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£940,000
Bedrooms
Bathrooms
Compton Reeback are pleased to offer this three Bedroom, two reception apartment situated on the second floor of this popular red brick mansion block located in the heart of Maida Vale. The flat requires modernisation and offers bright and spacious accommodation throughout. Currently the apartment is arranged as four bedrooms with kitchen and dining room adjacent, bathroom with guest cloakroom. The flat has the the added benefit of two balconies with one of them overlooking the well landscaped communal gardens. Elgin Mansions is ideally located close to Maida Vale Underground Station, the open spaces of Paddington Recreation Ground as well as the shops and cafes of Lauderdale Parade and Castellain Road. Further transport links can be found at Paddington Main Line Station together with the Elizabeth Line. The apartment has a Share of Freehold with 964 year lease. Service charges 3,945, Ground Rent N/A, Council Tax Band F, SOLE AGENT.
Reception Room -
Kitchen -
Dining Room -
Bedroom 1 -
Bedroom 2 -
Bedroom 3 -
Bathroom -
Kitchen Balcony -
Exterior -
Map location is not available for this property.
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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