1 bedroom flat for sale

£85,000 Guide Price

1

Bedrooms

1

Bathrooms

1

Reception

This property is to be offered for sale by PROPERTY SOLVERS ONLINE UNCONDITIONAL AUCTION (28-DAY IMMEDIATE EXCHANGE).

Bidding opens on the 29th May at 12:00 and closes on the 4th June at 12:00 with a GUIDE PRICE of 85,000.

Property Solvers Auctions presents this spacious 1 bedroom flat in the popular neighbourhood of Ferry Court, Cardiff.

As you enter this spacious flat into the hallway there is a video entry phone system and a double built-in storage cupboard. To your left you will find an open plan lounge/kitchen area with large windows letting in lots of natural light.(271.04 sq ft) and a modern fitted kitchen with ample cupboard space.

To your right, you will find a comfortable double bedroom (82.81 sq ft) which has a large built-in wardrobe for all your storage needs, also off the hall is a modern bathroom with mains powered shower over the bath and tiled floor (48.91 sq ft)

The property benefits from a concierge service, a gym, spa and a pool, along with communal areas.

The property has one allocated parking space.

The property is well-located and is close to a wide range of amenities such as Nuffield Health Cardiff Bay Hospital, Asda Cardiff Bay Click & Collect supermarket and Splott Beach. the property is also near several Ofsted-rated 'Good' schools

Dont miss out on this competitively priced property contact us immediately to arrange a viewing (available 7 days a week)!

More Information

The Property Solvers Auctions enquiry line is open 24/7 and were happy to answer any questions.

28-day unconditional auction terms + conditions, AML requirements and fees are available on our website (Google 'Property Solvers Auctions' and select 'Auction Property for Sale' in the navigation).

The preliminary legal pack can be viewed directly via the auction listing itself. Property Solvers Auctions will update the legal pack and inform all parties that express interest in bidding. For conveyancing searches that are not received in time for the auction, a Professional Indemnity Insurance policy can be taken out.

Notice to Bidders

This property is being sold under Property Solvers Unconditional Auction terms. Once the virtual hammer falls, the buyer has exchanged contracts at the fall of the virtual gavel. The minimum deposit of 10% will then need to be paid into the Property Solvers client account (unless otherwise agreed).

Property Solvers will then transfer the 10% deposit to the conveyancers account. The buyer is under contract to complete on the sale within 28 days. Failing to do so means that the buyer will lose the deposit paid to Property Solvers in addition to abortive legal costs.

As part of the Property Solvers Online Auction process, bidders will be required to register online and provide proof of ID documents (passport and photo driving license). For a full list of requirements please see the legal pack documents.

Buyer Reservation Fee

A 2% + VAT (non-refundable) fee (subject to a minimum of 2,400 including VAT) plus a 150 (including VAT) processing fee will be due from the winning bidder.

Generally speaking, guide prices are provided as an indication of each sellers minimum expectation, i.e. the reserve. They are not necessarily figures which a property will sell for and may change at any time before the auction.

Virtually every property will be offered subject to a reserve (a figure below which the auctioneer cannot sell the property during the auction) which we expect will be set within the guide range or no more than 10% above a single figure guide.

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

£ 68575

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
    £ 2125
  • 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

£ 4825
  • 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

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