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£420,000 Fixed Price
Bedrooms
Bathrooms
This bright and spacious Top Floor Flat forms part of a handsome traditional tenement building in the highly sought after area of Marchmont. It is entered off a well kept shared stairway with security entryphone system and would now benefit from a degree of modernisation and cosmetic upgrading.
The accommodation comprises broad reception hall; bright and spacious sitting room with bay window and fireplace; kitchen/dining room with utility room off; double bedroom 1 situated to the front; double bedroom 2 situated to the rear; large box room with skylight; bathroom with electric shower.
There is a large communal garden to the rear.
Parking
There is zoned residents permit parking on Spottiswoode Road and in the surrounding streets.
School Catchments
The property is in the catchment area for the highly regarded James Gillespies Primary and High School, both of which are a short walk away.
Location
Spottiswoode Road is situated within the highly sought-afterresidential area of Marchmont and within walking distanceof good schools, Edinburgh University campuses and the City Centre. Excellent local facilities include aSainsburys Local, post office, chemist, cinema, theatres and a variety of delis, cafs, bars and bistros.Nearby Bruntsfield has further shops, and Morningside has a Waitrose and an M&S Food Hall.
The property is a short walk from the Meadows and Bruntsfield Links where facilities include numerous childrens playgrounds, tennis courts, a bowling green and a pitch and putt.Warrender Swim and Gym Centre is nearby on Thirlestane Road.
Fixtures and Fittings
All fitted carpets, curtains, light fittings and kitchen appliances are included in the sale price.
Services
The property benefits from gas central heating.
Viewing
Initially via the 360 Virtual Tour, physical viewings by appointment only with Truscott Property.
Council Tax Band E
Tenure Freehold
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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