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£70,000
Bedrooms
This property is sold with a sitting tenant currently paying 550pcm.
A two bedroom round floor gapartment situated in the Eastbourne area of Darlington, a short walk away from local amenities and Darlington Railway Station. The property benefits from a modern fitted kitchen and bathrooms.
In brief the property comprises: entrance hall, living/dining room, kitchen, bedroom 1, en-suite, bedroom 2 and family bathroom.
Communal Entrance - Stairs to second floor.
Entrance Hall - Electric wall mounted heater and two storage cupboards.
Living/Dining Room - 4.257 x 3.283 (1311' x 109') - Living and dining area with double glazed windows, electric wall mounted heater and opening to kitchen area. Kitchen - Vinyl flooring, kitchen comprising high gloss white floor, wall and drawer units, contrasting work surfaces, stainless steel sink with mixer tap, electric oven and hob with extractor, part tiled walls, space for a washing machine and a fridge/freezer. Bedroom One - 3.313 x 3.04 - Double bedroom situated to the front with double glazed window, electric wall mounted heater and en suite. En-Suite - Vinyl flooring, low level w/c, wash hand basin, shower cubicle, part tiled walls and heated towel rail. Bedroom Two - 2.192 x 3.04 - Situated to the front with double glazed window and electric wall mounted heater. Bathroom - Vinyl flooring, bathroom suite comprising low level w/c, wash hand basin, panelled bath, part tiled walls and heated towel rail Externally - Allocated parking space. Council Tax - Band B. Tenure - This property is Leasehold 999 year lease from 2006 Ground Rent: 75.00 Service Charge: 896.34 paid monthly
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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