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For Sale
Badge shared ownership
£75,000 (Prices from)
Full Market Value from: £300,000

Challingsworth House., Cambridge Road, Barking

Type B, Challingsworth House, Cambridge Road, London, IG11 8TF

Shared Ownership Flat

Bedrooms: 1
Furnished: No
Reception rooms: 1
New Build: No
Bathrooms: 1
Area: 550 sqft
Description
Challingsworth House is part of the wider regeneration initiative and is a collection of 56 Shared Ownership apartments; 40 one-bedroom and 16 two-bedroom apartments, available from a 25% share. These properties offer floor to ceiling windows, contemporary kitchens with integrated appliances* and open-plan living.

Phase 1 consists of 10 one-bedroom apartments and only 2 are of this layout - 51.1m2/550ft2 and comprises a great sized bedroom with fitted wardrobes, the main bathroom, open-plan living and a private balcony.

Flat B17 can be found on the 4th floor:

Full Market Value: £300,000
Shares available from 25%: £75,000
Rent*: £516 per month

Flat B77 can be found on the 6th floor:

Full Market Value: £306,000
Shares available from 25%: £76,500
Rent*: £526 per month

*Calculated at 2.75% for one/two/three bedroom apartments per annum of the value of the share that you do not initially buy.

Scheme Information:

Leasehold
Lease length: 250 years
Council tax is due from the day of legal completion even though the banding may not yet be confirmed, please bear this in mind and make the necessary arrangements. When the property banding is confirmed, it will be listed on the following page: https://www.gov.uk/council-tax-bands or email [email protected]
Estimated Annual Service Charge: £1,284
Service Charge Review Period: Yearly
Ground Rent: £0

Eligibility for Shared Ownership

In order to be eligible to purchase a Shared Ownership house or apartment, there are several general criteria you must meet:

  • You must be at least 18 years’ old with a clean credit history
  • Your annual household income must be less than £90,000 in London, or £80,000 outside of London
  • You’re a first-time buyer, a previous homeowner that cannot afford to buy one now, or an existing shared homeowner
  • You must not be in mortgage or rent arrears, demonstrate a good credit history and be in a position to afford the regular payments

Find out what you can afford

Unsure of how much you can afford to borrow towards the purchase of a home? Use our Affordability Calculator below to receive an assessment* of how much you’re likely to be able to borrow based on your income.

*Help to Buy: Equity Loan

  • London Boroughs: 40%
  • Outside of London: 20%
Shared Ownership
*The affordability calculators give you an indication of affordability only. Your initial affordability assessment will need to be completed by an Independent Financial Advisor (IFA).
Register your interest

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