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£45,000
Bedrooms
* Video Tour on our YouTube Channel | *
NO ONWARD CHAIN | GARAGE IN A NEARBY BLOCK | SECOND FLOOR
Forming part of this purpose-built development, the opportunity to acquire this well presented second floor flat is now available. This would be an ideal property for the first time buyer, or a professional landlord looking for a buy to let.
The accommodation is available for immediate inspection and briefly comprises:- secured communal entrance hall, private hall with storage, bright and airy Easterly facing lounge/diner, kitchen with fitted wall and floor units, bathroom with shower over the bath and a double bedroom with built-in storage.
The property benefits from double glazing and is warmed with electric heating. Externally there is a single garage in a nearby block.
The property is in a great location with easy access to main travel links, the city centre and also a range of local amenities and parks.
Interested parties are urged to arrange a prompt and essential internal viewing to assess how pleasant this property is and get a feel for its full potential. Please call our Gosforth sales team on[use Contact Agent Button].
Tenure
The agent understands the property to be leasehold with a share of the freehold. However, this should be confirmed with a licenced legal representative.
COVID-19 Guidelines
Although it is not mandatory, we do recommend that viewers wear appropriate PPE to protect themselves and others.
Council Tax band *A*
Lounge/Dining Room - 3.20 x 4.93 (105" x 162") -
Kitchen - 2.16 x 2.39 (71" x 710") -
Bedroom - 3.01 x 3.93 (910" x 1210") -
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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