A fine investment opportunity at a GREAT PRICE!
Offered for sale, this deceptively spacious, traditional 3 bedroomed terraced house has been converted to 2 fully self-contained flats. A communal entrance hall provides access to both.
Flat 1, to the ground floor has been recently refurbished and provides good quality accommodation with 2 double bedrooms, a lounge and a smart kitchen with some appliances included. The bathroom provides a full suite with a shower over the bath from the mixer tap. An external, half glazed uPVC door opens from the kitchen to the back garden.
Flat 2, to the first floor, is configured with a lounge at the front, a double bedroom, kitchen and bathroom. The landing links each of these rooms and good space is on offer. This flat requires refurbishment.
Both units benefit from gas central heating, and uPVC double glazing. The main roof has been re-covered with pantiles and there is a garden to the back of the house access via a passageway shared with the neighbouring property.
Other points of note;
* The council tax and utilities are separate. 2 gas meters in the hallway. 3 electric meters (including a communal supply)
* Planning permission and building control obtained when the flats were developed.
Positioned close to Spring Bank West this property is within walking distance of the MKM stadium, the Hull Royal Infirmary and is close to lots of local amenities. Easy public transport links are available to the City Centre and the surrounding villages.
For a detailed exploration inside of the property, please check out the Virtual Tour link!
CHAIN FREE, VACANT POSSESSION and a viewing is strongly recommended!
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 £250k | 0 | ||
| £250k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
| Tax Band | % | Taxable Sum | Tax |
| less than £250k | 3 | ||
| £250k to £925k | 8 | ||
| £925k to £1.5m | 13 | ||
| rest over £1.5m | 15 |
| Tax Band | % | Taxable Sum | Tax |
| less than £425k | 0(5)** | ||
| £425k to £625k | 5 | ||
| £625k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
Company Registration Number: 4179534
