2 bedroom ground floor flat with SHARE OF FREEHOLD - Ideal for buy-to-let investors or first time buyers
The flat is situated on the ground floor of this small block and is located just a short walk from a number of amenities; including Tesco Express and bus links that take you to either Arnos Grove (Piccadilly Line) or Totteridge & Whetstone (Northern Line). In addition, there are 3 schools all within a short walk from the flat
The property itself requires modernisation throughout but currently consists of 2 bedrooms, good size living room, kitchen and bathroom. In addition, there is access to communal gardens
Tenure: Share of Freehold
Lease: 999yrs assigned
Service Charge / Ground Rent: £99pm
Lounge 13'8 x 11'4 ft (4.17m x 3.45m m)
Kitchen 9'5 x 4'3 ft (2.87m x 1.3m m)
Master Bedroom 11'5 x 9'8 ft (3.48m x 2.95m m)
Bathroom
Bedroom 2 8'9 x 6'3 ft (2.67m x 1.91m m)
Communal Garden
Tenure : Share of Freehold
Totteridge & Whetstone (tube)
0.91 km
Arnos Grove (tube)
1.29 km
Woodside Park (tube)
1.18 km
Southgate (tube)
1.48 km
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 |