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424 Downham Way, Bromley London BR1 5HR
£600,000 Guide Price
Bedrooms
Bathrooms
Reception
*Guide Price 525,000 - 550,000*
This exquisite end-of-terrace, double-fronted Victorian house, is perfectly situated in a highly sought-after area. This charming property effortlessly blends classic architectural features with modern conveniences, making it a superb choice for both buy-to-let investors and those seeking a new home.
Upon entering, you'll find a convenient downstairs bathroom to the left of the hallway. The front reception room is perfect for relaxing or entertaining, while the spacious kitchen diner at the rear of the house offers an ideal space for family gatherings. The kitchen diner opens out to a private courtyard, providing a serene outdoor retreat.
Upstairs, you'll discover three generously sized bedrooms, each neutrally decorated to provide a blank canvas for your personal touch. The versatile layout is perfect for families, professionals, or as a high-yield rental investment.
Situated on Elswick Road, this home benefits from an array of local amenities, including a variety of shops on Loampit Hill. The property is exceptionally well-connected, with Elverson DLR just a 0.1-mile walk, St Johns station 0.2 miles away, and Lewisham Railway only 0.3 miles from your doorstep. This superb transport connectivity ensures easy access to Central London and beyond, making it an attractive option for commuters and renters alike.
New Home: Non New Home
Maximum Area (in sq ft) 829 sq ft
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.
424 Downham Way, Bromley London BR1 5HR
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