2 bedroom flat for sale

£370,000 Guide Price

2

Bedrooms

1

Bathrooms

Floorplan

A rare two-bedroom one bathroom top-floor apartment, recently refurbished flat with a private garden section. Propety is located in Wanstead, E11, 0.5 miles (10 minutes) to Wanstead Tube Station, 0.5 miles walk to Snaresbrook Tube Station and is ideally located with 7-10 minutes walk of Wanstead High Street, its Shops, Restaurants, Pubs.

This chain free property benefits from a large reception room, two large bedrooms, gas central heating, double glazed windows, private garden,, lift to all floors, modern fitted kitchen, modern Shower room/wet room, wooden flooring throughout.

Please contact our Wanstead branch to arrange a viewing!

This property is available for sale via Modern Method of Auction and information will be shared with the Auctioneer, iamsold.
This method of auction requires both parties to complete the transaction within 56 days the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of 6,500.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.
Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.
The buyer will also make payment of 300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Referral Arrangements
Should you opt to use Conveyancing Services recommended by iamsold or the Partner Agent, please be advised that the Partner Agent will receive payment of up to 450.00 from the Conveyancing Provider for that recommendation where the services are taken, and a sale completes. It is important to note that recommended services are optional, and you should consider your options carefully before accepting any recommended services.Beautiful two-bedroom one bathroom top-floor floor, recently refurbished with a private garden section located in Wanstead, E11, 0.5 miles (10 minutes) to Wanstead Tube Station, 0.5 miles walk to Snaresbrook Tube Station and is ideally located with 7-10 minutes walk of Wanstead High Street with number of local shops, restaurants, pubs.

This chain-free property benefits from a large reception room, two large bedrooms, gas central heating, double glazed windows, private garden with direct access from both bedrooms, with external access, lift to all floors, modern fitted kitchen, modern Shower room/wet room, wooden flooring throughout. This is a unique opportunity to own this conveniently located proeprty.

Information will be shared with the Auctioneer, iamsold.
This method of auction requires both parties to complete the transaction within 56 days the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of 6,500.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.
Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.
The buyer will also make payment of 300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Referral Arrangements
Should you opt to use Conveyancing Services recommended by iamsold or the Partner Agent, please be advised that the Partner Agent will receive payment of up to 450.00 from the Conveyancing Provider for that recommendation where the services are taken, and a sale completes. It is important to note that recommended services are optional, and you should consider your options carefully before accepting any recommended services.

Mortgage Calculator

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 )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 307950

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 9250
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

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.

Annual Costs

£ 30450
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

Adjust these figures

  %
  %
£
  %

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.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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