Shared ownership is another way to buy your own home. You buy a percentage, and pay rent on the rest. The housing association owns part of it — but you’re living there, you decorate it, and you decide when to sell.

Buying a percentage means a smaller deposit and smaller mortgage. It’s a sooner first step on the ladder for lots of people. Usually, you can also carry on buying shares, to own it 100%.

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ECHO @ London City Island, 2 bed homes


City Island Way, London, Tower Hamlets, E14 0QE

Shared ownership

Starting prices

25% share from
£140,000
Full price
£560,000
Minimum deposit
£14,000
Monthly rent
£963
Monthly service charge
£350

Overview

LAST APARTMENT REMAINING!

As we re-open our sales offices, our expert teams are online and on-call to answer any questions and guide you through a virtual viewing of your chosen development. Once your virtual viewing is complete you will then be able to book your private appointment to view in person.

Echo @ London City Island is a stunning collection of 15 contemporary apartments available to buy with Shared Ownership. Offering fast transport links, exclusive residents amenities and a buzzing atmosphere day and night. London City Island is the capital's most exciting new neighbourhood. For vibrant East London living, there's no better place to call home.

 

KEY FEATURES

Bedrooms

Integrated wardrobes fitted in main bedrooms with custom designed painted feature doors with semi-matt finish (where shown on plan).

Master bedroom with en suite in 2 bedroom apartments.

Balconies

Painted metal balconies constructed with painted steel handrails and composite decking boards.

Flooring

Textured engineered oak floor boarding to hall, living area and kitchen. Square, matt black ceramic floor tiles to bathrooms, en suites and shower rooms.

Fitted carpets to bedrooms.

Kitchens

Composite stone worktops fitted with undermounted stainless steel sink.

Contemporary deck mounted matt black taps.

Feature tiled splash-backs.

LED lighting throughout overhead cupboards.

Siemens stainless steel built-in oven.

Siemens black glass hob and cooktop.

Siemens integrated extractor.

Fully integrated Siemens dishwasher.

Indesit integrated fridge freezer.

Indesit combined washing machine/tumble dryer located in separate utility cupboard.

Fitted modular design kitchen units in black semi-matt finish.

Other

Access to amenities: concierge, games room and lounge, outdoor swimming pool and gym

Landscape courtyards

 

What is Shared Ownership?
Shared Ownership is a government backed scheme allowing you to buy a share in a property from 25% to 75% of the full market value and pay a subsidised rent on the remainder. Because you only have to put down a deposit on the share you buy, you won't need to save as much for a deposit as you would if you were buying outright. **Affordability and eligibility criteria applies.

*Images and CGIs are for illustrative purposes only.


Local area information

Echo @ London City Island is more than just a place to live! The development includes over 1,700 residential units and 20,000 square metres of office space. Highlights include English National Ballet and London Film School's new homes, a new pedestrian bridge bringing Crossrail and DLR transport links to within a short walk away, fantastic River Thames views and a range of cafes, shops, restaurants and cultural facilities.

Canning Town DLR and Underground station (DLR & Jubilee) is a short 3 minutes walk. From here you can access the Jubilee Line to Westfield Shopping Centre (Stratford), the O2 Arena (North Greenwich), Borough Market (London Bridge), Southbank Centre (Waterloo) and the Royal Parks (Green Park). With the coming soon of Crossrail, Custom House will gain direct routes to destinations such as Liverpool Street, Paddington, Heathrow Airport and even the surrounding Essex countryside.

 


Plot availability

Plot number 202
Tenure Shared ownership
Availability Available
Bathrooms 2
Minimum share 25%
Minimum share price £140,000
Full market price £560,000
Monthly rent £963
Monthly service charge £350
Ownership Leasehold

Key Features 

  • Available to move in
  • Last few 2 bedroom apartments remaining
  • Second floor apartment with lift access
  • Access to amenities: Concierge, games room and lounge, outdoor swimming pool
  • Landscape courtyards
  • Balcony
  • Siemens home appliances
  • Composite stone kitchen worktops
  • En-suite bathroom

Specification

Bedrooms

Integrated wardrobes fitted in main bedrooms with custom designed painted feature doors with semi-matt finish (where shown on plan).

Master bedroom with en suite in 2 bedroom apartments.

Balconies

Painted metal balconies constructed with painted steel handrails and composite decking boards.

Flooring

Textured engineered oak floor boarding to hall, living area and kitchen. Square, matt black ceramic floor tiles to bathrooms, en suites and shower rooms.

Fitted carpets to bedrooms.

Kitchens

Composite stone worktops fitted with undermounted stainless steel sink.

Contemporary deck mounted matt black taps.

Feature tiled splash-backs.

LED lighting throughout overhead cupboards.

Siemens stainless steel built-in oven.

Siemens black glass hob and cooktop.

Siemens integrated extractor.

Fully integrated Siemens dishwasher.

Indesit integrated fridge freezer.

Indesit combined washing machine/tumble dryer located in separate utility cupboard.

Fitted modular design kitchen units in black semi-matt finish.

Other

Access to amenities: concierge, games room and lounge, outdoor swimming pool and gym

Landscape courtyards


FAQ's

Min share price from: £140,000 for a 25% share
Full price from: £560,000
Minimum deposit from: £14,000
Monthly rent from: £963
Bedrooms: 2
Bathrooms: 2

There is only one available priced at £140,000 for a 25% share.

It’s the same as buying on the open-market but you’re buying a share of a property, so therefore pay a mortgage on the part you own.

An independent mortgage advisor can help suggest which type of mortgage might be best for you, based on your situation.

Leasehold, which is essentially the contract for the share you've bought.

It means you've got the right to keep your home for a certain number of years (usually at least 125), but the land belongs to someone else. Your lease also sets out how much you need to pay each month, your responsibilities while living there and all the details of your agreement with the housing association. Make sure you go through it and ask lots of questions.

Your solicitor can help you with this.

It all depends on your lease (your contract with the housing association) so check it thoroughly and ask questions before you buy.

Housing Provider

Notting Hill Genesis
Shared ownership

Starting prices

25% share from
£140,000
Full price
£560,000
Minimum deposit
£14,000
Monthly rent
£963
Monthly service charge
£350