1 bedroom flat for sale

£120,000 Offers over

1

Bedrooms

1

Bathrooms

Midland Residential are delighted to present this modern ground floor apartment set in a gated communal grounds located in a convenient location in Highgate/Digbeth area with easy access to Birmingham City Centre, eateries and bus and train service routes. The property briefly comprises of a reception hall, open plan lounge/fitted kitchen, one bedroom and family bathroom. The property further benefits from electric heating, metal framed double glazed windows (w/s) and outdoor green space. The property is leasehold with a 107 year lease remaining, 1030.20 service charge per annum and 199.92 per annum ground rent.

Reception Hall (1.5 x 2.0 (411" x 66"))

Wooden entrance door, fitted electric heater, wall mounted security phone, built-in storage cupboard housing hot water cylinder with doors leading thereof

Lounge / Kitchen (3.2 x 4.8 (105" x 158"))

Lounge Area: Double glazed metal framed windows, electric heating, fitted carpets and six spotlights inset

Kitchen Area: A selection of wall and base units, electric hob and oven with extractor over, laminated work surface with splashback wall tiles above, grey flooring

Bedroom 1 (4.6 x 2.6 (151" x 86"))

Metal framed window, painted walls and fitted carpet

Bathroom (2.2 x 1.9 (72" x 62"))

White bathroom suite comprising panelled bath with built in shower attachment and glazed screen, pedestal wash hand basin, close couple WC, tiled splashbacks, electric wall heater, extractor fan, three inset spotlights, mounted blow heater

These particulars, whilst believed to be accurate are set out as a general outline for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. This property is being handled by Midland Residential. We would be delighted to discuss the purchase with you and to assist with any queries you may have regarding the property, arranging a mortgage or giving a sale valuation on your existing home. These Particulars of Sale were prepared and photographed by Midland Residential. Items contained within the property will not remain when the sale completes unless by separate negotiation.
Disclaimer notice: Consumer Protection from Unfair Trading Regulations 2008: The Agent has not tested any apparatus, equipment, fixture, fittings or services, and so does not verify they are in working order, fit for their purpose, or within the ownership of the sellers, therefore the buyer must assume the information given is incorrect. Neither has the Agent checked the legal documentation to verify the legal status of the property or validity of any guarantee. A buyer must assume the information is correct until it has been verified by their own solicitor. All measurements in these sales particulars are approximate and photographs are deemed representative of the property but no assumption should be made in respect of the property or locality which might not be shown. Items shown in photographs are not included unless specifically mentioned in writing with the sales particulars. A separate negotiation may be available.
Misrepresentation Act 1967: These particulars are not to be regarded as an offer or a contract. Statements about the property are without responsibility on the part of Midland Residential, or their client, nor are they to be relied on as representations of fact. The applicant should satisfy himself by inspection or otherwise as to the accuracy of the particulars. No representation or warranty about the property is given by the client or the Agents or any of their employees authorised to do so.
Tenure: We have been advised by the vendor that the property is Leasehold. The agent has not had sight of the title documents and therefore, a prospective buyer is advised to obtain verification from their solicitors.
Money Laundering Regulations: Intending purchasers will be asked to produce documentation at the offer stage. We ask for your co-operation to prevent a delay in agreeing the sale.



Features
  • Leasehold

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

£ 95700

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

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
    £ 3000
  • 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

£ 5700
  • 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

The Property has been saved to your favorites

Love the most
Second best
Meets our criteria
May be
Last resort

 / 5

Enquiry

Book an Appointment

Enter Details

Select Date and Time

GNB Property

10 Minute Meeting

  

Check all Details

Submit

Booking Confirmed

All confirmed! We look forward to speaking with you.

10 Minute Meeting

A calendar invitation has been sent to your email address.
Message