2 bedroom apartment for sale

£170,000 Guide Price

2

Bedrooms

1

Bathrooms

Floorplan

A two bedroom second floor flat in a converted church conveniently situated close to the town centre with a useful ground floor store room and parking. No onward chain.


2 Langmead House is a spacious, characterful two bedroom second floor flat in a converted church, with useful ground floor store room and parking space.
The property is entered via a communal entrance hallway with stairs leading up to the flat. A door leads into an entrance porch and then into the hallway. From the hallway, the kitchen/breakfast room is accessed, which comprises a range of wall and base units, a sink with mixer tap, integrated, wall mounted oven and electric hob. There is also space for a fridge/freezer. The living room is also accessed from the hallway, which is a lovely, large room with plenty of natural light entering through the skylight.
Further along the hallway is access into the two bedrooms and bathroom. Bedroom one is a double room, with fitted wardrobes and dresser. Bedroom two is also a good sized double. Completing the accommodation is the bathroom, which comprises a bath, wash hand basin, WC and shower cubicle, also with built in cupboard.
For layout and approximate room measurement please see the enclosed floorplan.

OUTSIDE
To the front of the property is a parking area, where each flat has the right to park one car. Also located on the ground floor is a useful private store room. There is a further communal store room which is shared between the four flats in the building.

SERVICES & OUTGOINGS
We understand that mains water, gas, electricity and drainage are connected.
Council Tax: North Devon Council Tax band C
Lease Information: The property is offered on a leasehold basis with share of freehold.

ADDITIONAL INFORMATION
Broadband: FTTC broadband is availablehighest available download speed 76 Mbps, highest available upload speed 15 Mbps. (Based on Openreach data).
Mobile Coverage: Limited coverage available via O2, THREE and VODAFONE. For an indication of specific speeds and supply or coverage in the area we recommend contacting your own provider.(Based on Ofcom data)
Flooding: The property is in an area at a VERY LOW RISK from River/Sea and Surface Water flooding (defined as the chance of flooding each year as less than 0.1%). (Gov UK data).
Construction Type: Stone

Langmead House occupies an extremely convenient location towards the northern outskirts of South Molton, within a few minutes walk of the local shops, schools and other amenities. Barnstaple and Tiverton are both easily accessible via the A361 North Devon link and offer a wider range of facilities, together with further schooling and entertainments. Exeter is within 40 minutes travelling distance, whilst Junction 27 of the M5 motorway and Tiverton Parkway main line rail station are both approximately 30 minutes drive, providing fast access to the rest of the country. International airports are available at Exeter and Bristol.
The market town of South Molton is located just to the south of Exmoor and is surrounded by delightful countryside offering a wide range of recreational pursuits including miles of walks, riding and cycling both on the moor itself and in the neighbouring environment. Fishing can be enjoyed on the rivers Mole, Taw and Torridge and the dramatic North Devon coastline is within 40 minutes travelling distance with a variety of locations ranging from quiet bays and coves such as Lee Bay and Woody Bay to the renowned surfing beaches of Woolacombe, Croyde and Saunton Sands. Golf courses may be found at Tiverton and Barnstaple, together with links courses.

Mortgage Calculator

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 )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 134450

Mortgage Loan to Value

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Gross Yield

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Annual ROI

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Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 4250
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

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.

Annual Costs

£ 6950
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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£
  %

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.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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