2 bedroom apartment for sale

Available

Maestro Apartments, 55 Violet Road, London, E3 3FW

£90,000 Shared Ownership Resale

Share percentage 25%, full price £360,000, £9,000 Min Deposit.

Available
2 bedrooms
1 Bathroom
Private Balcony/Terrace
Floor plan
floor-plan
Floor plan
floor-plan
£90,000 Shared Ownership Resale

Share percentage 25%, full price £360,000

Monthly Cost: £1,295

Rent £473, Service charge £342, Mortgage £480*

Calculated using a representative rate of 5.13%

Calculate estimated monthly costs

£
Summary

A Fantastic Opportunity to Purchase a Two Bedroom Apartment on a Shared Ownership (Part Buy/Part Rent) Basis

Description

This fourth-floor apartment has a reception room with a glazed door that leads out onto a balcony on the west/south-west side of the building. The kitchen is semi-open-plan to the reception and features sleek, white units and pencil-mosaic splashbacks. There is an eighteen-foot main bedroom plus a smaller second bedroom, a good-sized bathroom and an entrance hallway with built-in storage/utility cupboard. The hallway, reception and bedrooms all have attractive, walnut-style flooring. Well insulated walls, modern double glazing and a communal heating/hot water system make for a good energy-efficiency rating. The development is located just to the north of Limehouse Cut, only a few minutes from Devons Road DLR. Bromley-by-Bow Station, for the District and Hammersmith & City Lines, is also within easy walking distance.

SHARED OWNERSHIP (Advertised price represents 25% share. Full market value £360,000).

INTERESTED PARTIES ARE REQUIRED TO COMPLETE THE SHARED OWNERSHIP COMMON APPLICATION FORM [ https://tinyurl.com/3tj4ryed]

(Please note the minimum income and deposit requirements for eligibility. You do not need to request a viewing separately once you have completed the application form.)

Housing Association: Clarion.
Tenure: Leasehold (130 years less 5 days from 01/01/2009).
Minimum Share: 25% (£90,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £472.52 per month (subject to annual review).
Service Charge: £341.58 per month (subject to annual review).
Guideline Minimum Income: Dual - £39,800 | Single - £46,100 (based on minimum share and 10% deposit).
Council Tax: Band D, London Borough of Tower Hamlets. Priority is given to applicants living and/or working in this local authority.

This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone. Pets not permitted. There is no parking space offered with this property.

Key Features
  • Guideline Minimum Deposit £9,000
  • Guide Min Income Dual £39.8k | Single £46.1k
  • Fourth Floor (building has a lift)
  • Approx. 733 Sqft Gross Internal Area
  • Semi-Open-Plan Kitchen/Reception Room
  • Spacious Main Bedroom
  • Good Energy Efficiency Rating
  • Balcony
  • Minutes from Devons Road DLR
  • Short Walk from Bromley-by-Bow Station
Particulars

Tenure: Leasehold
Council Tax Band: D

Property Downloads
Key Information Document Floor Plan Brochure
Monthly Cost Calculator

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together, rent, service charge and mortgage.

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  • Rent: this is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes)
  • Service Charge: covers maintenance costs for the property as a whole and communal areas
  • Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.

NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.

£90,000
Shared Ownership Resale
Estimated Monthly Cost:£1,295
Rent £473
Service £342
Mortgage £480

Share percentage 25%, full price £360,000, £9,000 Min Deposit. Calculated using a representative rate of 5.13%

Disclaimer
This property is offered for sale in the condition seen. The housing association does not warrant to carry out any remedial or redecoration work of a cosmetic nature unless specifically advised in writing. As a general rule, fitted domestic appliances are included in the sale; non-fitted appliances are not. If you require confirmation, you must request this in writing from Urban Moves. The information in this document supersedes any information given verbally either in person or by telephone.