FOR SALE BY ONLINE PUBLIC AUCTION ON WEDNESDAY 15th SEPTEMBER 2021 AT 3.00PM. A WELL PRESENTED ONE BEDROOMED SECOND FLOOR APARTMENT CLOSE TO CITY CENTRE- LET AND PRODUCED £3,600pa GROSS INCOME. pa Floor Number 57
Tenure : Leasehold
Description
A second floor one bedroom apartment that will appeal to investors looking for a good yield. Refurbished in 2018 and benefiting from gas fired heating and PVCu double glazing this top floor apartment LET AND PRODUCED £3,600pa GROSS INCOME. PA.
Location
Located close to Hull Royal Infirmary and within comfortable walking distance of the City Centre.
Hall
Lounge/Kitchen
3.95m x 3.56m max
With fitted base and wall cupboards, inset stainless steel sink, freestanding oven, plumbing for an automatic washing machine, wood effect flooring and two radiators. Cupboard housing the gas fired combi boiler.
Shower Room
With low level WC, pedestal wash hand basin, fully tiled shower cubicle and double radiator.
Bedroom
4.41m x 2.56m
With two radiators and wood effect flooring.
Tenure
The flat is held under leasehold title with approximately 104 years left to run. Full details of the lease and service/maintenance charges will be provided in the legal pack.
Possession
At the time of instruction the flat was empty however a new tenancy might be created prior to the auction. Possession will therefore be subject to any tenancy current at that time.
Services
All mains services are connected.
Viewing
Strictly by appointment with the auctioneers on 01482 866844.
Council Tax
The property is listed as being in Council Tax band A.
Solicitors
Taylor & Emmit 20 Arundel Gate Sheffield City Centre Sheffield S1 2PP 0114 218 4000
Method of Sale
The property will be offered for sale by online auction with bidding starting at 12 noon on Monday 13th September and closing on Wednesday 15th September 2021 at 3.00pm. For further legal information relating to this lot please log on to auctionhouse.co.uk/hullandeastyorkshire
Conditions of Sale
The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneer's offices, with the solicitors and on-line at www.auctionhouse.uk.net/hullandeastyorkshire prior to the date of the auction.
Additional Fees
Additional Fees (Including VAT): Administration Charge: £750 Buyer's premium £480 Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion
Legal Pack
A legal pack has been requested from the vendors solicitor and will be made available online as soon as it is received. You can register to receive an email notification when the pack is available by going to auctionhouse.co.uk/hullandeastyorkshire and clicking on the property you are interested in. On the property detail page you will see a red 'LEGAL PACK' button which you should click on and it will take you to the registration page.
Guide Price
*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Online Bidding
The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneer's offices, with the solicitors and on-line at www.auctionhouse.uk.net/hullandeastyorkshire prior to the date of the auction.
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 |
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