2 bedroom apartment for sale

£550,000

2

Bedrooms

2

Bathrooms

Floorplan

Offering panoramic river views, is this bright and well-proportioned 951sqft/88sqm apartment, set within a gated Regency-styled development. It has two bathrooms, a separate kitchen, secure allocated parking, double glazed wood sash windows and gas central heating. Chain free.

This impressive second-floor home has been immaculately kept by the current owner and comprises two double bedrooms on either side of the inviting living room. The primary bedroom benefits from fitted wardrobes and an ensuite shower room. The separate kitchen is spacious and has a tiled floor, while both bathrooms have been recently refitted. The living room and bedrooms all boast direct water views.

Located on the popular and peaceful Rotherhithe Street, Sovereign View is an attractive development that was built by Barratt Homes in the mid-90s. Additional features include lift access, useful hallway storage cupboards, a modern gas boiler, updated consumer unit, new carpets and a welcoming entrance hall. Superfast broadband is available through Hyperoptic.

Excellent transport links including buses (381 takes 20 minutes to London Bridge, C10 runs to Canada Water Station and onto Victoria), river boat services, London Overground, as well as the Tube provide fast access to Canary Wharf, London Bridge, the City and West End. The nearest stations are Rotherhithe (Overground) and Canada Water (Jubilee Line and Overground).

The property will benefit from significant investment in the area, including the underway 53-acre / 5.6Bn project, the Canada Water Masterplan with Londons first new high street in over 100 years. There is also the soon to begin electric ferry service with six crossings an hour (for pedestrians and cyclists) between Surrey Quays and Canary Wharf.

Leasehold. The service charge is circa 4005.02. The ground rent is 763 per annum (next review in 2043) and the lease has 92 years remaining. Southwark Council Tax Band: E.

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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

£ 456450

Mortgage Loan to Value

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Gross Yield

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Annual ROI

%

Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 13750
  • 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

£ 43950
  • 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

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£
  %

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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