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£350,000
Bedrooms
Bathrooms
Sorrell are favoured with the instructions to offer for sale this investment opportunity, of two self contained flats currently producing a income of 17,040 per annum both let on assured shorthold tenancies. which are holding over Number 9 is a one bedroom ground floor flat and number 9a is a two bedroom first floor flat. Further details available on request.
Number 9 - Ground floor apartment
Spacious entrance hall, radiator, doors off on to
Lounge - 6.32 x 3.27 (208' x 108') - Double glazed french doors leading on to rear garden, fire place, radiator
Kitchen - 3.32 x 2.27 (1010' x 75') - Basic fitted units, sink unit, door through to large lean to with walk in cupboard housing gas combination boiler.
Bedroom - 4.77 x 3.89 (157' x 129') - Double glazed bay window to front, radiator.
Bathroom - Panelled bath with shower over, wash hand basin, double glazed opaque window to side.
Separate W.C. - Opaque glazed window to side.
West Backing Rear Garden -
Number 9A - Stairs to first floor landing, radiator, built in cupboard, doors off onto:
Lounge/ Kitchen - 5.15max x 4.74 to bay (1610'ax x 156' to bay) - Lounge area.
Double glazed bay window to front, vinly flooring, radiator:
Kitchen area
Laminate flooring, cupboard and draw base units, eye level wall cupboards , rolled top work surface, tiled splash backs, stainless steel sink unit recess for cooker and fridge/ freezer, double glazed window to front:
Bedroom One - 5.70 x 3.26 (188' x 108') - Doubel glazed windows to rear, carpeted, radiator:
Bedroom Two - 3.74 x 3.33 to alcove (123' x 1011' to alcove) - Double glazed windows to rear, carpeted, fitted cupboard housing boiler, radiator:
Lobby - Vinly flooring, plumbing for washing machine, double glazed window to side, door through to:
Bathroom - 2.47 x 2.35 (81' x 78') - Opaque double glazed window to side, panalled bath with electric shower over, pedastal wash hand basin, vinyl flooring, tiled splash backs, radiator:
Separate Wc - Laminate flooring, part tiled walls, low level wc, opaque double glazed window to side
Map location is not available for this property.
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.
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