Shared ownership at Hermit Road (Ref: GEN41), Newham, E16 4HR

Hermit Road (Ref: GEN41)

Hermit Road, London, E16 4HR

For sale
Shared ownership
Live from space album cover

Overview

BRIEF OVERVIEW Ground floor, 2 bedroom home in the London borough of Newham for £112,500 (30% share price of £375,000 full market price), available through Shared Ownership. ------------------------------------------------------------------------------------------ SPECIFICATION FloorGround GIA83 sqm EPC ratingB Length of lease120 Years Remaining ParkingNo Pets allowedNo Number of bathrooms2 ------------------------------------------------------------------------------------------ AFFORDABILITY Full Market Price: £375,000 Share Percentage: 30% Equity Price: £112,500-------------------------------------------------------...

Features

Bedrooms2
Bathrooms2
Reception rooms1
Number of floors1
Entrance floorGround floor
Tenureleasehold

Register interest

from £112,500

with min. deposit £11,250

30% Share from
£112,500
Full market price
£375,000
Minimum deposit
£11,250
Monthly rent
TBD
Monthly service charge
£83.27
Annual ground rent
TBD
Reservation free
TBD
Administration free
TBD

Notting Hill Genesis

FAQs

Shared ownership is a government-backed scheme, designed to make stepping onto the property ladder more affordable. You buy a portion of a home normally with a mortgage and a deposit, and pay a low-cost rent on the rest.

Read more on the Shared Ownership FAQ

Help to Buy is an equity loan scheme to help you buy a new home. If you have a 5% deposit and can cover 75% of the value of the home with a mortgage (or 55% in London), the Government will lend you up to the remaining 20% (40% in London) in the form of an equity loan that carries 0% interest in the first 5 years. This is available on a variety of new-build properties for first time buyers and is subject to the property price, the subsequent price cap in that region and the developer offering the option.

You can read more on the Help to Buy FAQ

The rules for shared ownership are different to a private purchase. In short, as long as you don’t currently own, or won’t own another property when you move in to a new home, you’re likely to qualify. Help to Buy is available to first time buyers only and the property value itself must fall below a price threshold for that specific area which varies in terms of the average house price in the region.

Read more about eligibility in the FAQ

Some properties require you to live or work in the local area in order to be eligible to buy them. By knowing the areas in which you live and work, we can make sure you see everything available to you.

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