INVESTMENT PROPERTY SOLD WITH TENANTS IN SITU – RENTAL £550pcm
This well-presented family home is offered for sale at a price to appeal to a discerning investor in search of a 3 bedroom property in a very popular residential area. The rental is currently £550pcm and the tenant is very keen to remain in the house.
An entrance hall includes a utility area and provides excellent storage. Off this room is a smart fitted kitchen with a fine selection of light woodgrain cupboards and units. A wide window behind the sink and drainer lights up the space, the halogen hob/oven are integrated and the floor is tiled. Adjoining the kitchen is a well-proportioned dining area with a staircase off and an understairs cupboard. An external door opens to the back of the house from the diner and to a private block-paved garden with slate chippings and raised decking for aa shed base.
The staircase switches back to a first-floor landing with a walk-in cupboard housing the gas boiler serviced annually. Three double bedrooms are on offer and a tidy white wet room with an electric shower, a pedestal basin and a WC.
Externally, the house has gardens to the front and the back.
Benefitiing from gas central heating, anduPVC double glazing, enquiries are invited now!
Tenure : Freehold
Council Tax Band : A
Sold with tenant in situ.
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 |
