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64 Newland Street, Witham
£325,000
Bedrooms
Bathrooms
GUIDE PRICE 325,000 - Situated in this gated development within walking distance of the town centre and mainline railway station is this three bedroom ground floor maisonette. The property benefits from an open plan lounge/diner, modern kitchen, en-suite and family bathroom, allocated parking, beautiful communal gardens.
On entering the property you are greeted into a spacious entrance hall with doors leading to all accommodation and airing cupboard. The spacious lounge/diner is a light and airy room with windows and patio doors to the rear opening out to the communal gardens. The kitchen is accessed off the lounge/dining room and is fitted with a range of modern wall and base units, sink inset to wooden worktops, integrated oven with an electric hob with extractor over, integrated fridge/freezer, space for white goods including dishwasher, washing machine and a tumble dryer, window to the front aspect and LVT flooring.
The master bedroom is a fantastic size with a window to the rear aspect and a second door into the family bathroom. Bedroom two has a window to the front aspect and access to an en-suite featuring shower cubicle, wash hand basin, W.C, fully tiled walls and floor. Bedroom three is currently being used as an office and has a window to the rear aspect. The family bathroom has a free standing porcelain bath, wash hand basin, W.C, walk in shower with glass screen and a second door to the master bedroom.
Outside
The property benefits from communal gardens with seated area that are well maintained and established and can be accessed from the French doors from the living area. The property also benefits from an allocated parking space.
Location
Witham has a busy High Street complemented by a choice of supermarkets, as well as a choice of schools and the recreational facilities offered at the Bramston Sports Centre. The towns railway station serves Londons Liverpool Street Station, the journey taking some 45 minutes. In addition the town is by-passed by the A12 trunk road, providing access to the excellent Grammar and other schools in Colchester and Chelmsford. To the north there is access to the A120 trunk road which is dualled west of Braintree, significantly reducing the travel time to Stansted Airport and the M11 motorway.
Directions
Please use the postcode CM8 1GJ for SatNav.
Important Information
Council Tax Band - C
Services - We understand that mains water, drainage and electricity are connected to the property.
Lease details - Subject to confirmation from the management company and these charges are for the current year and maybe subject to change.
Tenure - Leasehold
Original lease - 125 years from 2007
Ground rent - 100 per annum
Service charge - Approx 3,000 per annum
EPC rating - tbc
Ref - WIT250095/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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