2 bedroom apartment for sale

£230,000

2

Bedrooms

1

Bathrooms

Floorplan

A unique opportunity to purchase a generous two double bedroom ground floor apartment with private Garden and Garaging in a village setting.

Features Include:-

' UPVC Double Glazing
' Two Double Bedrooms
' Kitchen/ Breakfast Room
' Sitting Room
' Private Garden
' Garage and Driveway Parking
' NO UPPER CHAIN

Accommodation see Floorplan

2 Tower View, being one of two apartments forming part of this detached mature property, is on the ground floor with its own private Garden which in turn leads to the Driveway Parking and Garage.

A UPVC Double Glazed door gives access to the Entrance Hall with doors to all main rooms. The Sitting Room with two windows overlooking the Garden gives access to the rear UPVC double glazed Porch which in turn leads to the Garden.

The Kitchen/ Breakfast Room also has two windows to rear aspect and a range of modern base and wall units providing cupboard and drawer storage, complimented by work surfaces and white tiled splashbacks. Built in appliances include the Bosch Electric Oven with four ring ceramic hob above. Adjacent to the chimney breast is the airing cupboard and oil fired boiler. Plumbing for washing machine and dishwasher.

There are two Double Bedrooms both overlooking the front and the Bathroom comprises a white coloured suite with panelled bath, low level WC, pedestal wash hand basin, tiled splashbacks and fitted shower above bath.

Outside

A wrought iron gate gives access to the front door with small frontage adjacent. The gardens extend to both the side and rear of the apartment being mainly grassed with established flower shrub beds. Beyond same is the shared drive with the first floor flat, which in turn leads to the Garage with up and over door and parking to front of same.

Agents Note:

Lease- The first floor apartment owns the freehold. There is no ground rent or service charge payment. Maintenance to building paid for as and when needed, cost shared with upstairs.

999 Year Lease from June 1975 (949 Years)

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

£ 180950

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
    £ 5750
  • 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

£ 8450
  • 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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