Shared ownership in Hackney can be cheaper than renting
Getting on the property ladder via shared ownership can be a more cost effective option than renting on the open market in Hackney. At the Genesis Woodberry Park North development, estimated outgoings for a 25% share in a one bedroom apartment are £812 per month compared with an average rental price in the area of £1243.
One bedroom apartments can be secured from £60,000 for a 25% shared based on a full market value of £240,000. Three bedroom homes are available from £78,750 for a 25% share based on a full value price of £315,000, with estimated outgoings of £1,078 per month. It costs on average £2225 a month to rent a three bedroom property in Hackney; that’s a potential saving of over £1,000 each month and £12,000 each year!
Woodberry Park North is a stunning collection of apartments with many on the top floor having fantastic views across north-west London towards Alexandra Palace, whilst others have views up and down the New River, ideal for watching the ducks, Canada geese and grey herons that thrive there.
Whether you are looking for a one bedroom apartment or a larger home, Woodberry Park North provides a fantastic opportunity to buy a brand new home at up to half the cost of renting locally.
The apartments have been designed with style and comfort in mind, offering sleek, modern accommodation at an affordable price. They are finished to a superior specification, with dramatic floor-to-ceiling windows; contemporary bathrooms fully tiled with ceramic feature wall and co-coordinating ceramic floor tiling; and fully fitted Indesit appliances in the kitchen. An electronic audio door entry system ensures security and peace of mind, while stylish glass and steel balconies and paved terraces enable homeowners to enjoy the views across London.
Woodberry Park North is located on the banks of the New River and West Reservoir offering leisure facilities such as sailing, nature trails and the opportunity to watch the flourishing local wildlife.
A variety of chic boutiques, markets, restaurants and trendy clubs can be found nearby, while the Olympic Park and Westfield shopping centre are just 18 minutes away by train.
Ideal for commuters, the development is just around the corner from Manor House underground station, from where the Piccadilly Line runs services to Finsbury Park in two minutes and King’s Cross St Pancras in 10 minutes – making it ideal for regular Eurostar users.
By taking advantage of the Genesis shared ownership scheme buyers can purchase between 25% and 75% and increase their share at any time, all the way to 100% and outright ownership. Apartments are available to anyone who does not already own a property and is unable to buy a home on the open market. Their total household income must be less than £64,300 per annum for a one or two bedroom apartment or £77,200 for a three bedroom apartment. Ideally they should also have savings of around £3,500 to cover moving and legal costs.
To register your interest go to genesishomes.co.uk.
