1 bed flat for sale

521 Green Lane, Ilford IG3

If you are unable to buy a property outright on the open market, then Shared Ownership could be the ideal solution for you. It is a part-buy, part-rent scheme, which enables purchasers to buy an initial share of usually between 25% and 75% the value of the property and pay a subsidised rent on the remainder. A service charge may also be payable to cover the cost of communal maintenance. Shared Ownership properties are designed as a stepping stone to completely owning your own home, allowing you to buy as much as you can afford when you can afford it.

A resale is a Shared Ownership property that the current owner bought new from us or as a resale. Buying a resale property makes you an owner-occupier because you are buying at least the current owner's share on the existing lease. The great thing about choosing to buy a re-sale shared ownership property is that it gives you the opportunity to speak to the previous owner and to find out more about the area.

A well-presented one bedroom apartment set within a modern gated development. The accommodation comprises; open plan kitchen/reception room, bathroom, double-glazed windows to the south elevation of the building and includes access from its reception room to a private recessed balcony which affords a south-facing overlook over Green Lane. The building benefits from lifts serving all floors, secure gated entry system with fob access, concierge service and bicycle storage area.

Property Value: £230,000
Minimum Share: 50%
Share Value: £115,000
Lease Term - 119 years (approx.)
Rent pcm - £381.33
Service charge pcm - £268.82
Gross internal area: 559 sq.ft / 52 sq.m approx.
EPC Rating: B
Council Tax Band: D
Ground rent p.a.: £150 (payable from final staircasing to 100% ownership, subject to review every 25 years)

Napier Court is situated on the north side of Green Lane and is a short walk away from Goodmayes Station which affords convenient public transport links to London Liverpool Street via Stratford. The area is relatively well served by local bus routes and by a variety of nearby shops, cafes and restaurants particularly by those in Goodmayes Road and High Road.