I’m spoiling you now!
After a couple of weeks of uncertainly, we now have 2 good deals in the space
of a day. The second is a 1 bed apartment, tenanted successfully at £500 per
month, right in middle of the town centre – extremely lettable. The vendor is
looking for £80,000 but I suspect there may be a little bit of give if the new
purchaser is an investor – hence the quoted price of £77,500.
The
service charge on it isn’t the cheapest - £150 a month – but it’s still over 5%
return after the service charge has been calculated – so someone on a budget
will still snap this up as it’s a nice place in a plum location. It’s on Sheep
Street – right next to the bus station and less than 5 minutes walk from the
main railway station.
A
quick search of the internet for mortgages suggest you could get a 5 year fixed
rate, borrowing 75% for £100 per month (2 years) or £150 per month (5 years).
Pictures
again below. Please get in touch quickly please if interested – richard.baker@belvoir.co.uk
