2 bedroom apartment for sale

£260,000

2

Bedrooms

2

Bathrooms

Floorplan

Dont miss this great opportunity to purchase a modern and spacious 2 double bedroom furnished first floor apartment.
The property is ideally situated in a private gated development adjacent Three Bridges Train Station and comes with allocated parking, and balcony.

The property is presented to the market in good decorative order and comprises: entrance hall with storage cupboard, open plan kitchen with integrated appliances, including a dishwasher. The lounge/dining room is of a good size and has patio doors leading out to a balcony. The primary bedroom has in-built wardrobes and an en-suite shower room. There is a second double bedroom and a guest bathroom with a shower attachment over the bath. Other benefits are electric heating, entry phone system, on-site bike storage and allocated and visitor parking.

LEASE DETAILS obtained from the vendor:
Service Charge (per annum) appx. 2,333(in the last financial year) Reviewed Annually
Ground rent 215.40 per annum (paid half yearly)
Length of lease: 200 years from 2005 180 Years remaining

Price: 260,000
Tenure: Leasehold
Council Tax Band: Band C 1956pa
Crawley Borough Council
EPC Rating C
Property Type: Flat - First Floor - NO LIFT
Mains Services: Electricity/Water/Drainage
Heating Type: Electric heating
Broadband information: From 6 Mbps
Mobile Coverage: Good with Vodaphone and O2 Check with other providers
Parking Type: One allocated parking space
Flood/Erosion Risk: No risk

Identification 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 Lifetime Legal. The cost of these checks is 65 inc. VAT per purchase which is paid in advance, directly to Lifetime Legal. This charge is non-refundable under any circumstances.

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

£ 217200

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

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Cost of Purchase

£
  • Stamp Duty
    £

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

  • Refurbishment Budget
    £ 6500
  • 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

£ 22200
  • 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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