ATTENTION INVESTORS…
Offered for sale with with an established rental income, this spacious 2 bed terrace is situated close to the Hull City centre and will generate rental income from day 1.
The house is rented on a 5 YEAR LEASE to a local HOUSING ASSOCIATION., so the rental income is guaranteed until the lease expires. Very often the same Housing Association will renew the lease for another 5-year term when the current lease expires.
The rent is currently set at £560pcm with annual increments within the lease tracking the Consumer Price Index.
The front door opens to an entrance hall into a long through lounge, providing good accommodation for soft furnishings and a dining suite. A brand new kitchen provides a selection of base units and mounted cupboards to 3 sides and an integrated oven/hob/extractor hood. A window to the side is positioned behind the stainless sink and drainer.
A staircase from the hallway extends to a short landing, 2 double bedrooms and a bathroom with an electric shower over the bath, a basin and a WC.
Outside is a wraparound courtyard providing the option for off-road parking to the side of the house.
The house benefits from uPVC double glazing and gas central heating and can be viewed by appointment. Full certification is in place with a Landlord’s gas safety check and a valid EICR certificate.
Location: Close to Holderness Road with a wide range of shops, facilities and public transport links to the Hull City Centre. The Mount Pleasant retail park includes an ASDA superstore and is within a short walk.
Smart, bright and ready to go, this high yielding investment opportunity is not to be missed.
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
