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Spaceworks, Benton Park Road,, Newcastle Upon Tyne
£160,000 Offers over
Bedrooms
Bathrooms
This upper semi detached flat is located in a lovely area that offers easy access to the local Sainsburys, The Gym, David Lloyd Club and the Freeman Hospital. Built in the 1930s the property offers two double bedrooms, gas combi heating, double glazing, gardens front and rear and a driveway for one car.
Four Lane Ends is nearest Metro and there are some great local amenities nearby to include doctors surgeries, cafes and shops. With a council tax band of A, energy rating of C, and a long lease with 965 years to run, we expect a good amount of interest. No chain.
Lobby with stairs to
First floor hallway: Radiator and access to loft.
Living room: With bay window, radiator and decorative fireplace.
Bedroom one: Radiator.
Bedroom two: Radiator. Decorative fireplace. Cupboard.
Kitchen: Radiator. Built in electric hob and oven. Plumbed for washer. Rear stairs with gas combi boiler.
Shower room: Radiator. With walk in shower, wash basin and w.c.
Outside: The left hand side of the front garden comes with this flat as you are looking from the front, along with the driveway for one car which has a dropped kerb.
Enclosed lawned garden to rear.
Material information: Flood risk low. Mains gas, water, electricity, drainage, all connected. The area has a choice of high speed broadband providers including fibre options. The property is not known to be a mobile drop zone but this must be checked upon visiting.
An 8 per year rent charge is payable, your conveyancer will be able to advise further regarding this prior to exchange of contracts.
Mining: The property is not known to be affected by mining but considering the rich mining heritage of the region you are advised to have your conveyancer conduct the appropriate mining searches before 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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