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£600,000
Bedrooms
Bathrooms
A bright, modern two bed (one double, one single), two bathroom flat on the 5th floor (with lift) of Peters Court, a well maintained 1930s portered block on Porchester Road. The property was completely refurbished 4 years ago and comes with a fully fitted separate kitchen with all appliances. The master bedroom has an en-suite shower-room, and there is a separate family bathroom. The heating and hot water are included in the rent.
Peters Court is ideally placed for all shopping and transport facilities of the area including Royal Oak (City Line), Queensway (Central Line) and Bayswater (Circle & District Lines) underground stations. Access to the A40 (M) is close by, as is Paddington mainline station. It is opposite the new Waitrose and close to the stunning New Whitely development, the Porchester Centre with its pool, gym and Library, and to all the boutiques, restaurants and bars of both Westbourne Grove and Queensway. It is only a five-minute walk to Hyde Park.
Approx gross internal space: 710 sq ft / 66 sq m
Lease, Approximately: 50 years
Service Charge, Approximately: 6,500pa
Ground Rent: 50 pa
EPC - EPC - D (68%), Council Tax band - D (973.16 per annum 2024-2025)
Access: Step-free from the street, lift to the 5th floor
Utilities:
Communal hot water and heating are provided by the building, which are covered by the Service Charge
Mains electricity and water. Does not have a gas supply.
Broadband: FTTC; Mobile coverage good (See OFCOM website for maximum speed available)
Parking: on the street, a parking permit is required from Westminster City Council, charges depend on size and type of vehicle.
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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