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Spaceworks, Benton Park Road,, Newcastle Upon Tyne
£350,000 Offers over
Bedrooms
Bathrooms
An outstanding larger style three bedroomed detached house, built by Bellway in the 1980s. The house has been very well cared for by its current owner and offers spacious rooms throughout which are in good decorative order. The kitchen has been extended and now includes a dining area with patio doors leading into the westerly rear garden. There are three generously sized bedrooms, with a modern ensuite to the main bedroom and a beautifully re-fitted main bathroom. Other attractions include gas central heating with a combi boiler, driveway parking and a single integrated garage. A viewing will not fail to impress. Very long leasehold with 958 years and a fixed ground rent of 30 per year. No estate charges. Energy rating C. Council tax band E.
Lobby: With ground floor w.c.
Hallway: Radiator. Cupboard.
Living room: With two radiators. Windows front and side. Fireplace with living flame gas fire.
Breakfasting kitchen: With radiator. Fitted with an excellent range of units. Integrated fridge, separate freezer, gas hob, oven with grill, extractor hood and dishwasher. Opening into :
Dining room: Radiator. Patio doors into garden.
First floor landing
Main bedroom (rear): With radiator and fitted robes.
En suite: With towel radiator, walk in shower, wash basin and w.c. Fitted mirror.
Bedroom two (front): With radiator and fitted robes.
Bedroom three (front): With radiator and fitted robes.
Bathroom: With towel radiator. White suite with bath, wash basin and w.c.
Outside: Lawned garden to front with block paved driveway and single garage.
Enclosed westerly rear garden with conifer hedge giving a high degree of privacy.
Utilties: Gas, water, electricity and mains drainage are all connected. The area is served by high speed broadband.
Leashold: 958 years remaining with a fixed ground rent of 30 per annum. Your solicitor must confirm this prior to exchange of contracts.
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.
Spaceworks, Benton Park Road,, Newcastle Upon Tyne
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