Here is an opportunity for someone wanting to invest in property.
We have a Freehold end tearrace that has been converted into two apartments.
Each of the apartments are one bedroom, and are now available For Sale giving an expected return of between 8% to 10%.
Property Details
1 Bedroom Ground Floor Apartment
Key Features
Property Summary
A private ground floor apartment, close to Scunthorpe centre, the apartment is tastefully decorated and presented, to the rear is a small shared garden.
The property includes a double bedroom, a newly installed shower room, kitchen, lounge with dining area, and the property also includes available storage throughout.
Property Details
Brief Property Description
Overview of this property which offers;
· lounge with PVCu double glazed windows with dining area
· kitchen includes a range of wall and floor units, plumbing installed for a washing machine
· showerroom, a pedestal hand basin and a low flush close coupled w.c,
· double bedroom
1 Bedroom First Floor Apartment
Key Features
Property Summary
A private first floor apartment, close to Scunthorpe centre, the apartment is tastefully decorated and presented, to the rear is a small shared garden which also provied an external stairwell to the apartment.
The property includes a double bedroom, a three peice bathroom, kitchen, lounge with dining area, and the property also includes available storage throughout.
Property Details
Brief Property Description
Overview of this property which offers;
· lounge with PVCu double glazed windows with dining area
· kitchen includes a range of wall and floor units, plumbing installed for a washing machine
· bathroom, a pedestal hand basin and a low flush close coupled w.c,
· double bedroom
Location:
Located central to Scunthorpe, approximately 0.5 mile from Scunthorpe town centre, 0.5 mile to Scunthorpe General Hospital, and just over 0.5 mile to Scunthorpe Railway Station.
Front:
Access to the property is from the rear with use through a private access
Rear:
Offers access to a rear shared garden.
Viewings can be arranged through JC Property
Tel: 01724 487297
Tenure : Freehold
Council Tax Band : A
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 |
