Situated on the first floor, this property has been newly refurbished throughout with new kitchen, bathroom, heating, insulation, carpets and decor this property is very well situated with brindlington Promenade just a few steps away it boasts amazing views. This one double bedroomed flat is situated on the first floor of a block of flats currently nearing the end of a massive refurbishment throughout, internally and externally.
Sitting room with a feature fireplace, fitted kitchen with oven and hob, double bedroom and modern bathroom with shower cubicle.
Internally, the communal hallways are being refurbished with new decorations, lighting and flooring whilst retaining the period features.The flat is available to let or to purchase or on a let to buy basis whereby you can rent the property whilst you raise the funds to purchase it.. See us for further details on how this could work.
The property is to be sold leasehold on a new long lease.
For the home owner or investor, this property has a new roof, new rear access, new electrics, has been refurbished extensively inside and out and therefore maintenance bills are likely to be very low for the forseeable future.
Off street parking is also available on a first come first served basis.
Access to the rear is via a newly built external staircase to the car parking and bins area.
A large garage is also available to purchase by seperate negotiation.
The property is available to purchase as a buy to let with a good tenant paying £495 pcm. Property management also available.This property is available either with vacant posession or with a tenant and can be managed by the freeholder for sa worry free buy to let investment.
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
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.
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.
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.
| Tax Band | % | Taxable Sum | Tax |
| less than £125k | 0 | ||
| £125k to £250k | 2 | ||
| £250k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
| Tax Band | % | Taxable Sum | Tax |
| less than £125k | 3 | ||
| £125k to £250k | 5 | ||
| £250k to £925k | 8 | ||
| £925k to £1.5m | 13 | ||
| rest over £1.5m | 15 |
| Tax Band | % | Taxable Sum | Tax |
| less than £300k | 0(2/5)* | ||
| £300k to £500k | 5 | ||
| £500k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
