Property description
We are pleased to present this property on an Option to Purchase basis.
Description / Area
•2 Bedrooms Ground Floor Apartment
•Previously Tenanted at £450 Per Month
•Rent equivalent at £5,400 Per Year
•Less than 10 Years old
•Communal Parking
•Kitchen with Integrated Appliances
•Door Entry intercom System
•Close to Local Amenities
•Close to Transport Link
•Excellent Condition
•9 Years Purchase Option Period
Purchase Option
Approx Mortgage Outstanding £ 57,000
Expected Annual Income £ 5,400
Monthly Mortgage Payment £ 241
Annual Cash Flow £ 2,508
Gross Yield 27%
How does this work?
(Buyer )
-You have the right to the rental income for the duration of the Term
-You manage the Property as a Buy to let investor
-Your Name is registered at Land Registry
-All rental income will belong to You
-Option for period of Loan term outstanding
-You can assign the agreement at any time
-You agree to pay the monthly mortgage amount to the owner in order for them to pay the lender
-You insure and maintain the property exactly you would your own
-Any equity uplift will be Yours once the outstanding loan is repaid
-You can complete the Purchase at any time by Paying of the Mortgage off
-You can sell at any time and benefit from any proceeds over the Mortgage Amount
-You do Not take on the existing Mortgage
-No Credit Checks
(The Seller)
-Cannot mortgage, remortgage or put a charge on the property
-Cannot collect the Rental Income
-Will enter in to a power of attorney in your name so you have control over the Property
Please note that the Premium of offers in Excess of £14,950 does not form part of the purchase price.
Please enquire for full details.
Comparison's
Similar 2 Bedroom Apartments Sold in 2008 for: £ 112,950
Tenant Comparisons at £450 Per Month - Opportunity to Increase Rent
Excellent location - Excellent Condition
Sold in 2011 in Recession for: £ 80,000
No Rent Guarantee or Rent Assurances are Offered
Property Features :
- Offers Over £ 19,950
- Current Yield 27.06 %
- Unique Delayed Completion