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£250,000 Guide Price
Bedrooms
Bathrooms
''' GUIDE PRICE 250,000 - 260,000 ''' A second floor purpose built unfurnished flat which forms part of a modern mixed use development in a popular commercial/residential area. Barking mainline/underground station (District line and Hammersmith & City lines) is almost opposite and Vicarage Field shopping centre is within close proximity. Barking is easily accessible via the North Circular Road (A406) which links with the A13.
Entrance Hall
Laminate Flooring, spotlights, electric heater, cupboard housing plumbing for washing machine, access to bedroom, bathroom and reception, entry phone.
Lounge/Diner
213 (6.48m) x 98 (2.95m) > 8 (2.44m). Double glazed window to front, laminate flooring, two electric wall heaters, wall lights, open to kitchen.
Kitchen
8 (2.44m) x 78 (2.34m). Stainless steel sink unit, fitted wall and base units, work surface, stainless steel electric hob and stainless steel oven, stainless steel extractor hood, lino flooring, tiled splash back, integrated fridge/freezer, concealed lighting, spotlights, open to lounge/diner.
Bedroom One
15 (4.57m) x 85 (2.57m). Double glazed window to front, laminate flooring, electric wall heater, wall lights.
Bathroom
Square panelled bath with shower attachment, low flush w/c, wash hand basin, tiled walls, spotlights, lino flooring, electric wall heater, extractor fan.
Allocated Parking
Underground bay, via security remote control doors.
DIRECTIONS:
The Odean, Barking is situated on Longbridge Road.
Abbey Estate Agents is the sellers agent for this property. Your conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. We make detailed enquiries of the seller to ensure the information provided is as accurate as possible. Please inform us if you become aware of any information being inaccurate
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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