A two bedroomed cottage situated in the desirable area of Molescroft. Briefly comprising to the ground floor a lounge with stairs leading up to the first floor and a breakfast kitchen. To the first floor there are two bedrooms and a bathroom. The property benefits from a communal garden and off road parking. An ideal starter home or investment.
Tenure : Leasehold
LOCATION
Situated within easy access of the historic market town of Beverley which is renowned for its highly regarded schools, play parks, amenities and exceptional range of shopping facilities, café bars and restaurants close by. Beverley also has a railway and bus station, period architecture and other attractions including Beverley Minster and the Westwood pastures.
THE ACCOMMODATION COMPRISES:
GROUND FLOOR
LOUNGE
Stairs leading to the first floor. Radiator.
KITCHEN
With a range of base wall and drawer units. Built-in oven and hob.
FIRST FLOOR
LANDING
BEDROOM ONE
Radiator.
BEDROOM TWO
Radiator.
BATHROOM
With a white suite comprising a bath, sink with vanity unit and a low flush WC. Radiator.
OUTSIDE
There is a communal garden and off-street parking is provided.
Heating and Insulation
The property has uPVC double glazing and electric heating.
Services
Mains water, electricity and drainage are connected to the property. None of the services or installations have been tested.
Council Tax
Council Tax is payable to the East Riding of Yorkshire Council. The property is shown in the Council Tax Property Bandings List in Valuation Band A (verbal enquiry only).
Tenure
Leasehold. Ground rent is £500 per annum and the managment fees are £230 per quarter with 84 years remaining on the lease. Ground rent and buildings insurance are paid until the end of 2022.
Viewing
By prior appointment with the agents. Telephone: 01482 866844.
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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