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£230,000 Guide Price
Bedrooms
Bathrooms
We are delighted to offer for sale this spacious and well presented one double bedroom apartment situated on the raised ground floor within this desirable Shoreham Beach location.
Conveniently situated adjacent to the River Adur and within approximately 500 yards of the foreshore. Local shops can be found in Ferry Road, whilst more comprehensive shopping facilities, restaurants and bars can be found in Shoreham town centre. The library, health centre and mainline railway station are also close by, and Brighton and Worthing are both easily accessible and are approximately 5 miles to the east and west respectively.COMMUNAL ENTRANCE Stairs to:-
RAISED GROUND FLOOR Private front door through to:-
ENTRANCE HALLWAY Comprising recessed spotlights, fire alarm, carpeted flooring, cupboard housing Worcester boiler, further cupboard for storage also housing fusebox, wall mounted door entryphone system.
BATHROOM Comprising panel enclosed bath with mixer tap and integrated shower, hand wash basin set into vanity unit with storage below, hidden cistern low flush wc, wall mounted heated towel rail, wall mounted shaver point, part tiled walls, spotlights, extractor fan,
BEDROOM North aspect. Comprising pvcu double glazed window, radiator, single light fitting, built in wardrobes with hanging rail and shelving.
OPEN PLAN LOUNGE/KITCHEN North aspect.
Kitchen area: Comprising roll edge laminate work surface, matching base and eye level cupboards, with lighting, stainless steel sink one and a half bowl sink unit with mixer tap, integrated appliances include Bosch fridge/freezer, Bosch electric fan oven, Bosch gas hob, Bosch extractor fan, Beko dishwasher. Space and provision for washing machine, recessed spotlights, contemporary tiled splashback.Lounge Area: Comprising pvcu double glazed sliding door out to Balcony, radiator, two pendant lights.BALCONY Having panoramic views over the River Adur and distant downland views
ALLOCATED PARKING SPACE
TENURE
Leasehold
LEASE: 125 Years from 1st June 2005 - approximately 105 years remainingMAINTENANCE: Approximately 1600 per annumGROUND RENT: Approximately 150 per annumYour 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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