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£105,000
Bedrooms
Situated in the much sought after 55 Degrees North development and has access to all Newcastle city centre amenities and transport links, and is only a short walk down to the vibrant Quayside.
The property is located on the fifth floor and briefly comprises:- entrance lobby with concierge service, lift and stair access to all floors, hallway, open plan lounge/ kitchen diner with integrated oven and hob, double bedroom and a modern bathroom with shower over the bath. the apartment benefits from double glazing and electric heating.
Viewings come highly recommended. For more information please call our Gosforth sales team on[use Contact Agent Button].
Tenure
The agent understands the property to be leasehold. 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 *C*.
Lounge/Kitchen/Diner - 9.54 x 2.91 (313" x 96") -
Bedroom - 4.12 x 3.25 (136" x 107") -
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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