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64 Newland Street, Witham
£103,000
Bedrooms
Bathrooms
Offered with no onward chain is this one bedroom top floor apartment for the over 60s. The property is situated in the popular Foster Court development being within a short walk of the town centre and close proximity to the mainline railway station.
Entrance door leads to the entrance hall which has doors to all accommodation including a storage cupboard, newly laid carpets which continue into the bedroom and lounge/diner. The lounge/diner has a window to the with views over the communal gardens and a feature fireplace. Open access leads through to the kitchen which is fitted with a range of wall and base units incorporating cupboards and drawers, one and a half bowl sink in set to roll edge worksurface, space for cooker with extractor fan above and space for a fridge freezer.
The large double bedroom has a window to the aspect and built in wardrobes. The shower room has a walk-in shower cubicle with shower seat, vanity wash hand basin and a W.C.
Outside
The property benefits from communal gardens, communal lounge, laundry room, lift access to all floors, house manager and a 24 hour emergency care line response system with pull cords throughout the apartment.
Location
A short walk away is Withams main High Street with its local shops, amenities and supermarkets. For the commuter Withams mainline railway station is within walking distance with its direct route to London Liverpool Street and a short drive to the A12 trunk road with its links to London and the Coast. Witham offers various recreational facilities including the Benton Park Golf course and country club with stunning 18 hole course and country club facilities.
Directions
Please use the postcode CM8 2TQ for SatNav.
Important Information
Council Tax Band - A
Services - We understand that mains water, drainage and electricity are connected to the property.
Tenure - Leasehold
Lease details - Subject to confirmation from the management company and these charges are for the current year and maybe subject to change.
Remaining lease length - 88 years
Service charge 1534 per half year including water bill
Ground Rent 271 per annum
EPC rating -
Ref - WIT250107/EA
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.
64 Newland Street, Witham
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