2 bedroom flat for sale

£420,000

2

Bedrooms

1

Bathrooms

Floorplan

PROPERTY DESCRIPTION SPACIOUS 2 BEDROOM WITH LARGE SUNNY GARDEN IN A POPULAR LOCATION IN BRIGHTON.

A opportunity to purchase a character style 2 double bedroom maisonette with a large garden in the popular Roundhill conservation area of Brighton, close to local shops at Lewes Road and London road. Bus links throughout the city of Brighton and Hove.

Good schools locally which are close and in the catchment area of Down infants, Downs juniors, Varndean and Dorothy Stringer.

The property comprises of:

Stairs from the front to the main door with its own entrance, wall mounted radiator and hallway with wooden flooring giving access to:

Bedroom 1 - 146 x 112 Spacious room with bay fronted to the front. Wooden window shutters. Wall mounted radiator .Fully carpeted.

Bedroom 2 - 114 x 79 Further double room with double glazed window to the rear of the property. Shelving an hanging space in each recess. Fully carpeted. Wooden white shutters on either side of the window. Black out blinds. Wall mounted radiator.

Bathroom - 75 x 55 Fitted suite with panelled bath with plumbed in shower over, wash basin, electric towel rail and WC.

Stairs leading down to inner hallway and space for appliances under stairs.

Open plan fitted Modern Kitchen - 101 x 55 with space for all appliances, plumbing for washing machine and Butler sink. Range of floor mounted cupboards with work surfaces over. Wall mounted boiler. Double glazed window overlooking garden.

Living room -197 x 90 with space for dining table and chairs and door to rear garden. Lounge area which offers a snug feel which is ideal for sofa and space on the floor or wall for a TV.

Feature Garden with decked area ideal for entertaining and steps down to lawn area with flower and plant borders. Raised gravel seating area with space for fire pit and hot tub if required. Further access to the bottom of the garden which can be used for multiple uses to include storage or vegetable garden.

Lease is 90 years and the owners pay 100 per month to a maintenance fund. The owners are looking to extend the lease on selling the property and more details will be available shortly.

The property is a leasehold with Right to Manage. The Right to Manage ( RTM ) lets some leasehold property owners take over management of the building - even without the agreement of the landlord.

Ground rent is is 300 bi-annually to the Freeholders.
Council Tax B.

Parking is available with obtaining permits from the council but subject to availability for the zone and costs.

BUYERS AML CHECKS Should a purchaser have an offer accepted on a property marketed by Martin & Co, they will need to undertake an identification check. This is done to meet our obligation under Anti Money Laundering Regulations (AML) and is a legal requirement. We use an online service to verify your identity provided by HIPLA. The cost of these checks is 50 inc. VAT per purchase which is paid in advance, directly to HIPLA. This charge is non-refundable under any circumstances.

Features
  • Freehold

Map location is not available for this property.

Mortgage Calculator

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 )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 349200

Mortgage Loan to Value

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Gross Yield

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Annual ROI

%

Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 10500
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

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.

Annual Costs

£ 34200
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

Adjust these figures

  %
  %
£
  %

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.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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