2 bed flat for sale

Cambridge Road, Barking IG11

Shared Ownership

This modern home is available to buy from as little as £93,750 with a 25% share!

A superb eight floor apartment situated close to excellent connectivity at Barking Station. This beautiful property provides over 780 square feet of well appointed accommodation and is well presented throughout. A bright and spacious open plan kitchen/dining/living space provides ample storage and doors opening to a fabulous winter garden offering flexible additional living space. There are two large bedrooms and the master benefits from an ensuite and build in wardrobes. There is a contemporary family bathroom. The residents have use of a communal roof garden with far reaching panoramic city views and there is a concierge service (8am-8pm). Further benefits include, underfloor heating and bike storage.

Oculus House is conveniently located amongst an array is amenities and just 140 yards from Barking Station which provides overground and underground services across London and to surrounding areas, including the coast!
VicarageField Shopping Centre is directly adjacent, offering supermarkets, cafés, banks, and daily services. Barking High Street—with its mix of big-name and independent shops, restaurants, pubs, and a cinema—is just a short stroll away. There are also many notable schools in the locality.
Pricing & affordability


Full Market Value: £375,000

25% Share Price: £93,750 (rent £733.12 pcm)
Minimum 5% Mortgage Deposit (25% share): £4687.50
Approximate Service Charges: £273.81 pcm*
Lease: 246 years
Eligibility


Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not exceed £90,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

** This home can also be purchased outright (100% of the value) which is £375,000 and a purchaser would not need to meet the eligibility criteria listed above.