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£890,000 Guide Price
Bedrooms
Bathrooms
Valley Road, Scarborough - This prominent building is situated close to the picturesque South Bay and not only offers a beautiful setting but also the potential for a good investment. The property is currently arranged as an investment block of 11 self contained flats, which are all fully let and generates a current gross income of circa, 72,260 per annum.
The Building - An impressive 4 storey building that is currently arranged as 11 self contained letting units with a mix of one and two bedrooms, they are all currently let on Assured Shorthold Tenancies (AST) and generate a gross rental income of approximately 72,260 per annum . The building stands within its own grounds with extensive gardens to the rear.
Tenure - Freehold and to be sold as an investment with the tenants in situ.
Viewing - Strictly by prior appointment with sole agents Colin Ellis Property Services on
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Rental Income - Flat 16,760
Flat 26,500
Flat 37,280
Flat 48,400
Flat 56,000
Flat 65,040
Flat 76,240
Flat 85,640
Flat 8A6,000
Flat 96,600
Flat 107,800
TOTAL 72,260 per annum when fully let
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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