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£895,000
Bedrooms
Bathrooms
This exceptional loft apartment is on the ground floor of Hoffman Square, an award-winning conversion of a Grade-II-listed building on Chart Street.
The apartment has a large open-plan kitchen, dining, and living area with double-height ceilings and three large windows. The L-shaped fitted kitchen has been expertly designed to allow maximum floor space.
The large main bedroom has impressive high ceilings, an en-suite and benefits from built-in wardrobes and additional storage solutions. The second bedroom includes again additional storage cleverly carved out towards the ceiling.
Hoffman Square residents can also enjoy a communal gallery space on the ground floor. On-street parking permits can be applied for.
Built in 1825 as alms-houses by the Worshipful Company of Haberdashers, the building was a cornerstone for the East Ends furniture trades during the heyday of the mid-19th to mid-20th century. Later acquired by the London College of Furniture, the building was re-purposed, serving as a space for teaching and furniture production for over a century.
The more recent regeneration project into 40 residential apartments was granted the Britannia National Home Builder Design Award for restoration and conversion.
The surrounding area has an exciting variety of restaurants and galleries. The boutiques and cafes of Redchurch Street and Spitalfields are within easy reach.
Old Street is the nearest station, offering services across the Northern Line. Liverpool Street (Central, Hammersmith & City, Circle and Metropolitan lines,) & Moorgate Underground (Circle, Northern, Hammersmith & City, Metropolitan Lines and Thameslink) plus the new Elizabeth line, and Hoxton Station (London Overground) are all within easy walking distance.
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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