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£250,000 Offers in excess of
Bedrooms
Bathrooms
BRAND NEW 125 YEARS LEASE '' VACANT POSSESSION
McDowalls are proud to market for sale this 1st floor 2 Bedroom Garden Flat on Wakefield Street only 10 minutes walk from Upton Park Tube Station. The flat has just received a fresh lick of paint and is ready for the new buyer to move straight in! The garden area is paved and thus low maintenance. Loft / roof can be included within the new lease at a premium of 25,000
Great property for 1st time buyers and investors alike.
''' GUIDE PRICE 250,000 T0 275,000 '''
Water / Sewage - Mains
Gas - Mains
Electric - Mains
Tenure - Leasehold
Lease - 125 Years (Brand New Lease)
Ground Rent - 0
Service Charge - 0 (Annual Insurance Premium To Pay)
EPC - Band D
Council - LB of Newham
Council Tax - Band B (Approx 1500 pa)
Parking - On Street Requiring LBN Residents Permit
Important Note
1. These particulars are prepared for guidance purposes only. They are intended to give a fair description of the property, but do not constitute part of an offer or contract.
2. We have been unable to verify certain information in particular none of the services or fixtures and fittings including central heating (where applicable). Electrical wiring appliances have not been tested and no warranties of any kind can be given.
3. The photograph appearing on particulars shows a certain aspect of the property at the time when the photograph was taken and it should not be assumed that the property has not changed since the photograph was taken.
4. All floor plan measurements are approximate and for illustration purposes only.
5. No enquiries have been made to the local authority with regards to planning consent, applications or notices.
Map location is not available for this property.
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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