1 bedroom apartment for sale

£190,000

1

Bedrooms

Located in the heart of Leamington town centre this first floor apartment is perfectly situated for bars, restaurants, shops and the station. This light airy apartment has a spacious living room, kitchen, generous double bedroom, allocated off road parking and communal garden at the rear. With 140+ years remaining on the lease this apartment would make an excellent investment or first purchase and is available with no chain.

COMMUNAL ENTRANCE Steps up to the communal entrance door, communal hall with staircase leading to the first floor landing.

HALLWAY With wooden entrance door from the communal landing, floor to ceiling built in storage cupboard, wall mounted electric fuse box and doors off to bedroom, living room and bathroom.

LIVING ROOM 16 10" x 13 5" (5.13m x 4.09m) Spacious L-shaped area allowing for dining space, with central heating radiator, sash window to the front, feature fire place, four bar directional light, wall mounted central heating thermostat and door into the kitchen.

KITCHEN 9 6" x 6 2" (2.9m x 1.88m) With a range of wall and base mounted unit with work surface incorporating a stainless steel sink and drainer, integrated electric oven and four ring electric hob, stainless steel cooker hood above, space and plumbing for washing machine, space for fridge freezer, wall mounted Worcester central heating boiler and sash window to the rear.

BEDROOM 14 8" x 8 11" (4.47m x 2.72m) Double bedroom with free standing wardrobe, central heating radiator and sash window to the front.

BATHROOM 9 8" x 4 6" (2.95m x 1.37m) With a suite comprising of a panelled bath with shower screen, wall mounted Mira Event XS shower, pedestal wash hand basin, low level W.C, extractor fan, spot lights, cupboard housing hot water cylinder and central heating radiator.

OUTSIDE Communal garden accessed from the side under an archway, from the parking area and one allocated parking space.

TENURE The property is leasehold with 189 year lease from 25th March 1977 with 40.00 per annum ground rent. The service charge is 800 per annum, this information should be checked and verified by your legal representative.

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

£ 149950

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
    £ 4750
  • 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

£ 7450
  • 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

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  %
£
  %

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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