2 bed flat for sale

Epping House, 41 Woodgrange Road, London E7

Shared ownership (Advertised price represents 25% share. Full market value £450,000). This smartly-presented flat is on the third floor of a recently-constructed, mixed-use development. The property has a twenty-one-foot reception room with attractive flooring and an open-plan kitchen area featuring stylish, handle-less units and integrated appliances. A door leads from the living area out onto a rear (west/south-west) facing balcony. There is a main bedroom with fitted wardrobe plus a second double bedroom and a high-spec bathroom. A pair of storage/utility cupboards have been provided in the entrance hallway and well insulated walls, high performance glazing and a communal heating and hot water system have resulted in a very good energy-efficiency rating. There is a coffee shop and supermarket in the ground-floor retail units of Epping House plus many other stores along Woodgrange Road. Forest Gate Station, for access to the Elizabeth Line, is just minutes away and Wanstead Park Station (London Overground) is also within easy walking distance. The flat is held on a very long lease.

Interested parties are required to complete the shared ownership common application form []

(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 (990 years from 24/07/2024).
Minimum Share: 25% (£112,500). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £833.66 per month (subject to annual review).
Service Charge: £201.90 per month (subject to annual review).
Guideline Minimum Income: Dual - £54,800 | Single - £63,000 (based on minimum share and 10% deposit).
Council Tax: Band C, London Borough of Newham. 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 may be permitted but only with prior consent from Clarion (which, unfortunately, can only be obtained once you are the property owner). There is no parking space offered with this property.

What is shared ownership ?

Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (gla) in London and Homes England outside of London.

Is shared ownership for you ?

The gla and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:

1. Not own another property in the UK or any other country.
2. Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
3. Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
4. Be in full time permanent employment.
5. Be a British, EU or eea Citizen or have indefinite leave to remain in the UK.
6. Have a good credit history.

Bathroom

7' 4" max. X 7' 1" max. (2.23m x 2.15m)

Reception

21' 0" max. X 13' 4" max. (6.41m x 4.07m)

Ktchen

Included in reception measurement

Bedroom 1

11' 6" max. X 11' 5" max. (3.51m x 3.47m)

Bedroom 2

12' 6" max. X 7' 3" max. (3.81m x 2.21m)