This extended two bedroom mid-terrace house is offered to the market as an excellent, oven-ready investment opportunity. It is currently let to long term tenants at a monthly rent of £400pcm and is presented in good condition. The house benefits from gas fired central heating, double glazing and a modern kitchen and bathroom. With a gross annual income of £4,800 it will appeal to any disearning investor.
Location
The property reaps the benefits of a central location and it is within 0.2 miles of local amenities and approx 1.5 miles from the City Centre. With numerous local stores, just a short walk away including Iceland, Asda, Lidl, and Morrisons. Transport links are second to none from the property; with the nearest bus stop, only a short walk away. The nearby railway station is within 1.8 miles of the property (Hull Paragon Interchange station).
Accommodation
Ground Floor: Porch, Living Room, dining area, kitchen, rear hall, bathroom.
First Floor: two double bedrooms.
Outside: small forecourt garden and rear yard with pedestrian access.
Central Heating
The property has the benefit of gas central heating.
Double Glazing
The property has the benefit of UPVC double gazing.
Council Tax
Council Tax is payable to the Kingston Upon Hull City Council. From verbal enquiries we are advised that the property is shown in the Council Tax Property Bandings List in Valuation Band A.*
Viewings
Strictly by appointment with the agents.
SOLICITORS
Taylor & Emmet
20 Arundel Gate, Sheffield City Centre, Sheffield S1 2PP
Lisa Molinari - Lisa.Molinari@tayloremmet.co.uk
METHOD OF SALE
The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 17th January 2022 and closing on Wednesday 19th January 2022 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 auctioneers 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
Buyers premium - £480
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion
ONLINE BIDDING
If you are wanting to bid on this property, copy and paste the link below into your URL bar or into a Google search and it will take you to a video that explains the process:
youtube.com/watch?v=ImXr4HXR36c
Tenure : Freehold
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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