16-48 Cambridge Road, Barking, IG11 8NW

Shared Ownership

This superb modern home is available to buy from as little as £175,000 with a 50% share!

Situated on the fourth floor of the striking Oculus House development, this beautifully presented two bedroom apartment offers well designed living accommodation. The heart of the home is a generous open plan kitchen, dining and living area, creating an excellent space for relaxing or entertaining, while the impressive private curved balcony provides an ideal spot to enjoy outdoor space. The property also benefits from two generous bedrooms (en suite to bedroom one), a contemporary family bathroom and excellent built-in storage throughout.

Oculus House is ideally positioned in the heart of Barking, offering a fantastic selection of local amenities including supermarkets, cafés, restaurants and leisure facilities. Barking town centre is within easy reach, while nearby green spaces such as Barking Park provide the perfect setting for outdoor recreation. The area continues to benefit from significant investment and regeneration, making it an increasingly popular place to call home.

The property is exceptionally well connected for commuters, with Barking Station providing District, Hammersmith & City, London Overground and c2c services, offering direct links into the City, Canary Wharf and central London. Excellent road connections via the A13, A406 and M25 further enhance accessibility for those travelling by car.

PRICING & AFFORDABILITY

Full Market Value: £340,000

50% Share Price: £170,000 (rent £529.16pcm) Minimum 5% Mortgage Deposit (50% share): £8,500 Approximate Service Charges: £261.36pcm* Shared Ownership Lease: 241 years remaining

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not exceed £90,000 • You have a deposit of at least 5% of the share value • You do not own another property or have your name on the deeds or a mortgage for a property worldwide. • This will be your only residence. • You are a permanent UK resident or have indefinite right to remain.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.