1 bed flat for sale

Robert Milligan House, 47 Cardigan Road, London E3

Shared ownership (Advertised price represents 40% share. Full market value £320,000). A spacious one-bedroom apartment on the top floor of this modern development. The property has a twenty-two-foot reception room with attractive, open-plan kitchen area. There is a generously-sized bedroom with built-in, mirror-fronted wardrobe; a bathroom with stylish, pencil-mosaic tiles and a storage/utility cupboard has been provided in the entrance hall. Both principle rooms face west/south-west and overlook the communal courtyard. Well insulated walls and roof, modern double glazing and a communal heating/hot water system make for a good energy-efficiency rating. Bow Road, Bow Church and Mile End Stations (for District/Hammersmith & City Lines, DLR and Central Line respectively) are all within easy reach and the local buses and cycle superhighway routes offer other options. An Anytime Fitness gym and a Tesco Express occupy the ground-floor retail units of the development and there many other shops/amenities close by.

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 (125 years less 3 days from 01/07/2013).
Minimum Share: 40% (£128,000). The housing association will expect that you will purchase the largest share affordable.
Shared Ownership Rent: £536.32 per month (subject to annual review).
Service Charge: £136.03 per month (subject to annual review).
Guideline Minimum Income: Dual - £42,500 | Single - £48,800 (based on minimum share and 10% deposit).
Council Tax: Band C, 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 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.

Reception

22' 0" max. X 12' 1" max. (6.71m x 3.68m)

Kitchen

Included in reception measurement

Bedroom

14' 6" x 11' 0" (4.42m x 3.35m)

Bathroom

7' 2" max. X 6' 8" max. (2.18m x 2.03m)