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Poets Place, Loughton

Guide price £500,000

  • Flat
  • 2
  • 2
  • 1
  • Property Type: Flat
  • 2 Bedrooms
  • 2 Bathrooms
  • 1 Reception
  • Tenure: Leasehold
  • Current Occupant: Vacant
Reference number : friend_1823587123
Market info

Stunning Two Bedroom Apartment In Loughton In Retirement Complex

GUIDE PRICE £500,000 - £525,000 


Friend & Farrelly Property Services Are Proud To Offer This Two Double Bedroom Two Bathroom Retirement Apartment In Loughton. Built In 2017 This Beautiful Apartment Offers A Large Living Space With All Of The Mod Cons You Expect From A Modern High Spec Apartment. The Large Entrance Hallway Is Welcoming, Spacious, Practical And Leads To A Large Living Room With Dual Aspect Windows Allowing For Lots Of Light And Patio Doors To The Generous Balcony Which Has Space For A Table, Chairs, And Planters. The Open Plan Fully Integrated Kitchen Is Adjacent To The Living Room And Benefits From An Electrically Operated Window. The First Bedroom Has A Large Window Allowing For Lots Of Light, Easy Access Well Proportioned Walk In Wardrobe And En-Suite With Walk In Shower And Toilet. The Second Bedroom Is Also A Nice Size Allowing For A Double Bed Comfortably. Finally We Have A Main Bathroom With Walk In Shower And W.C. 


This Property Has Under Floor Heating Which Is Controlled Independently In Each Room Via Thermostats, Electric Blinds Throughout And A Built In Extractor System. Being A Retirement Complex The Apartment Also Has Pull Chord/Push Button Emergency Assistance Which Runs 24/7. Other Benefits Include Communal Lounge And Communal Gardens. 


Please note there is No allocated parking spae with this apartment. Visitors Parking On Site is available.


Lease Details: 

Long Lease: Approx. 995 Years

Service Charge: Approx. £3190pa

Ground Rent: Approx. £500pa

Tenure  : Leasehold

Poets Place, Loughton

Calculate your Return on Investment

£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

 
£
Mortgage Required
£ 420200
Mortgage Loan to Value
84%
Gross Yield
%
Annual ROI
%
Annual Rental Profit
£
Cumulative Rental Profit
£
Cost of Purchase
£ 45200
Stamp Duty
£ 30000
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Refurbishment Budget
£ 12500
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.

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