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£260,000
Bedrooms
Bathrooms
EWS1 Certified. A superbly presented and refurbished, high specification, 3rd floor apartment of 699 sq. ft. in the popular Home development, with feature double glazing, electric heating system, communal lift. Likely to appeal to owner occupier or property investor with a rental potential of approx. 1,300 pcm.
ACCOMMODATION:
Substantial Reception Entrance Hall measuring 19 ft x 5 ft 11 (5.79m x 1.80m) with oak laminate flooring, airing cupboard with replacement hot water cylinder.
Superb Lounge/Dining Room/Kitchen, an impressive corner room measuring 17 ft 6 x 16 ft 11 (5.33m x 5.16m) with wall lights, oak laminate flooring, two feature arched double glazed windows, further double glazed window to the kitchen area, high specification fitted kitchen units with grey Shaker style doors and quartz worktops incorporating a range of wall and base cupboards, extractor hood, ceramic hob with electric under oven, integral fridge/freezer, integral dishwasher, integral washing machine, grey Asterite single drainer sink unit with flexible hose.
Two Double Bedrooms. Bedroom One measuring 11 ft 6 x 11 ft 1 (3.51m x 3.38m) with arched double glazed window and door to luxury Ensuite Shower Room/WC combined measuring 4 ft 11 x 3 ft (1.50m x 0.91m) with vinyl tiled floor, high specification white suite comprising low level WC, wash hand basin in vanity unit, mirrored vanity cabinet, double shower cubicle with flexible shower hose and monsoon shower head, metro style ceramic tiling, extractor fan, low voltage spotlighting.
Bedroom Two measuring 10 ft 9 x 7 ft 10 (3.28m x 2.39m) with arched double glazed window.
Luxury Master Bathroom/WC combined measuring 8 ft 5 x 7 ft 9 (2.57m x 2.36m) with double glazed window, high specification white suite comprising low level WC, wash hand basin in vanity unit, bath with glazed shower screen and over bath shower, extractor fan, vanity plinth, chrome ladder radiator, vinyl tiled floor.
Home is a secure gated development and is located adjacent to Piccadilly Village and within 300m of Piccadilly Station.
It may be possible to rent a parking space within the development subject to availability and subject to rental. There is on street metered parking and there are contract car parking facilities within 300m subject to rental and availability.
Council Tax Band: D
Tenure: We are advised by the vendor the property is believed to be long leasehold for the residue of 999 years from 1st January 2004 (979 years remaining). Depending on the Leasehold /Freehold title any current Ground/Chief Rent, if applicable, together with current service charge details are to be confirmed by the Vendors solicitor (but are available on request from our office at any time).
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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