** OVER 70's LUXURY RETIREMENT APARTMENT WITH ITS OWN PATIO AREA ** **NO ONWARD CHAIN** - Trading Places Estate Agents are privileged to offer for sale a 'Oakfield Court' GROUND FLOOR retirement apartment situated in the heart of Urmston town centre. Own a beautiful retirement apartment and maintain your independence. This stunning GROUND FLOOR ONE DOUBLE BEDROOM apartment is exceptionally well presented with spacious rooms and stylish decor. Situated on the ground floor, this apartment has the advantage of a patio suitable for a table and chairs. In brief, the recently built accommodation comprises; secure entrance, spacious hallway, a great sized living room, modern fitted kitchen, a double master bedroom with a walk in wardrobe and a contemporary fitted wet room. The property is warmed by electric heating and is fully double glazed. The facilities at Oakfield court are second to none with an on-site counter service bistro restaurant serving a variety of hot and cold dishes. You can also have peace of mind that staff will be on hand from 7.00am till 11.00pm and are registered with the Care Quality Commission and can offer additional care with a personal care package or domestic assistance. A conveniently located and impressively finished apartment being sold with NO ONWARD CHAIN. Additional service charges apply.
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
£
Mortgage Required
£ 128075
Mortgage Loan to Value
83%
Gross Yield
%
Annual ROI
%
Annual Rental Profit
£
Cumulative Rental Profit
£
Cost of Purchase
£
11825
Stamp Duty
£ 5250
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Refurbishment Budget
£
3875
Survey Costs
£
400
Mortgage Fees
£
1,000
Your home may be repossessed if you do not keep up repayments on your mortgage.
Legal Fees
£ 1,300
Adjust these figures
£
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.
Annual Costs
£
Mortgage Interest
£
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
Letting and Management Costs (Inc VAT)
£
Maintenance
£
Insurance
£ 500
Ground Rent
£ 0
Service Charge
£
0
Adjust these figures
%
%
£
%
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.
Total Profit
£
Final Equity Profit
£
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit
£
Cumulative Rental Profit = Annual rental profit x Time of Investment
Adjust these figures
%
This is the assumed rate of house price inflation.
Final Property Value
£
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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Single Property
Purchase Price
(Enter numbers only)
Show Full Calculation
Effective Rate
00.00
%
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
Additional Property
Purchase Price
(Enter numbers only)
Show Full Calculation
Effective Rate
00.00
%
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
First Time Buyer
Purchase Price
(Enter numbers only)
Show Full Calculation
Effective Rate
00.00
%
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
*For purchases over £500k, SDLT is charged at 2% from £125k to £250k and 5% from £250k to £925k.
