Available for sale with a long term lease to the Social Housing Provider, this property provides a gross monthly rent of £450pcm. Appealing specifically to buy to let purchasers looking for a consistent return.
The property is well maintained and presented in very good order. It is offered for sale below market value to reflect the slightly lower than market-value rent.
At almost 20 feet front to back, the lounge is a super space. Light is shared from the bay at the front to the windows back. Excellent space is on offer for soft furnishing and a full dining suite and beneath the staircase is a cloak area and the usual utility cupboard.
The white kitchen is a good space and is complete with a range of fitted units, cupboards and appliances. An external half glazed uPVC door opens to a courtyard served by pedestrian access.
A staircase extends from the entrance hall to a first-floor landing split level landing providing access to the roof void through the loft hatch. Off the landing are 2 double bedrooms and a full family bathroom.
The first floor offers 2 double bedrooms and a bathroom with a full suite.
Bedroom 1 is a big space with a cupboard in the chimney breast recess and bedroom 2 is also a double room with an integrated cupboard housing the gas central heating boiler.
Outside is an L shaped courtyard.
Location : West Park Grove forms a part of Hull’s regeneration area and subsequently the house is well presented from the kerbside. Off Granville Street, easy transport links to the city centre and the villages to the west are close by.
CHAIN FREE 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 |
