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118 High Street, Lee-On-The-Solent, Hampshire
£345,000
Bedrooms
Eckersley White are pleased to offer for sale this two bedroom sea-facing apartment on the ground floor of one of the most distinctive small blocks on Lee-on-the-Solent seafront. The original designers have given the block a period feel with the semi-circular bay and feature sash windows. The property also benefits from residents parking and a shared patio area. Offered with no onward chain.
The accommodation comprises:
Communal Entrance Hall:
Communal front door with security intercom, stairs to first and second floor, private front door to:
Entrance Hall:
Front door, newly fitted carpet, secure entry phone, coats cupboard with shelving and consumer unit, additional cupboard housing boiler, hardwired smoke alarm, coved ceiling.
Lounge: 158 max x 134 max (4.77m x 4.06m)
Double glazed door to shared patio area, double glazed sash windows to front aspect with sea views, newly fitted carpet, underfloor heating, coved ceiling, wall and ceiling lights, television point and chrome sockets, opening to kitchen.
Kitchen: 97 x 86 (2.92m x 2.59m)
Range of wall and base units with roll edge work top units and tiled surrounds, one and a half bowl stainless steel sink and drainer unit with chrome mixer tap over, built in electric oven, four ring gas hob with extractor hood over, integrated appliances including fridge/freezer, dishwasher and washing machine, hard wired smoke alarm, inset spotlighting, coved ceiling, tiled floor.
Bedroom 1: 1410 into bay x 89 (4.52m into bay x 2.67m)
Three double glazed sash windows to side aspect with sea views, newly fitted carpet, underfloor heating, fitted double wardrobe and additional fitted cupboard.
Bedroom 2: 124 x 90 (3.76m x 2.74m)
Two double glazed sash windows to side aspect with sea views, newly fitted carpet, underfloor heating, coved ceiling.
Bathroom: 80 x 66 (2.44m x 1.98m)
Panelled bath with tiled surrounds, separate shower cubicle, WC, wash hand basin on vanity unit, tiled floor with underfloor heating, inset spotlighting, double glazed obscured sash window to side aspect.
On the Outside:
There is one allocated parking space.
Lawn area and shared patio enclosed low brick wall and hedging.
Lease: Residue of 125 years from 2005
Service charge: 2344 pa
Ground rent: 100 pa
Insurance: 504.30 pa
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.
118 High Street, Lee-On-The-Solent, Hampshire
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