If you are searching for an investment with the potential to refurbish, upgrade and add value, then this fine Victoria property divided into 2 self-contained flats might just fit the bill.
Positioned on Anlaby Road very close to the MKM stadium and approx. 2.5km from the City centre the convenient location will suit many. The Hull Royal Infirmary is also a major employer, and this is within a short walk.
Main Entrance Hall
An external door opens to the entrance hall and access through a further door to the ground floor flat. The main staircase from the hall extends to the 1st floor and a tremendous 2-bedroom duplex apartment arranged over the first and 2nd floors.
Flat One
Requires refurbishment work and damp treatment. A hallway links to fine lounge at the front of the house, the bathroom has a full suite and the double bedroom has a tall window looking out to the back of the house. The kitchen is fitted, includes an integrated oven & hob and provides space for appliances and a breakfast table.
Flat Two
A super spacious Duplex apartment has a big bright lounge and a tidy, well-arranged fitted kitchen with space for a small table. The bathroom completes the 1st floor with both bedrooms are on the next floor up. These are a great size and have Velux windows lighting up the space.
For a detailed exploration inside of the property, please check out the Virtual Tour link!
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
