4 The Old Maltings is a well-presented one-bedroom ground floor flat located within a popular development, just a stone’s throw from Driffield town centre. The current owner has lovingly maintained the property, creating a warm and welcoming feel from the moment you step through the door. Offering comfortable and stylish accommodation throughout, this charming ground floor flat would make the perfect purchase for first-time buyers, downsizers, or investors alike.
The property briefly comprises:- entrance hall, open plan kitchen living area, one double bedroom, bathroom, commual area and one allocated parking space.
LOCATION
Driffield offers an outstanding array of amenities, including shops, restaurants, public houses, quality sports facilities dedicated to Rugby, Golf, Football, Bowls, Cricket and many others, as well as a very highly regarded Secondary School. It also provides excellent road and public transport connections to Hull, Beverley, Bridlington and Scarborough.
THE ACCOMMODATION COMPRISES:-
COMMUNAL AREA
Intercom entry system to the apartments, internal post boxes, lift and stairs leading to all floors.
ENTRANCE HALL - 10'5'' x 3'6'' (3.19m x 1.08m)
Door to the front aspect, intercom system, and laminate flooring.
OPEN PLAN LOUNGE/DINING/KITCHEN AREA - 21'4'' x 9'3'' (6.51m x 2.82m)
A modern open plan space with window to the front aspect, tiled splash, a range of wall and base units, cupboard housing the water tank, one and a half sink drainer unit, space for an under counter fridge, plumbing for a washing machine, electric hob, electric oven, extractor hood, laminate flooring, newly fitted carpet, wall mounted electric heater, TV point and power points.
BEDROOM ONE - 10'3'' x 9'7'' (3.14m x 2.93m)
A spacious double bedroom with window to the front aspect, fitted carpets, wall mounted electric heater and power points
BATHROOM - 6'5'' x 5'9'' (1.96m x 1.75m)
A neautrally decorated three piece bathroom suite comprising: - low flush WC, sink with pedistal and mixer tap, panelled bath with mixer tap and over head shower, partially tiles walls, wall mounted electric towel rail, wood effect vinyl flooring and extractor fan.
PARKING
There is an allocated parking space for the apartment.
SERVICE CHARGE
The service charge is around £1,026 per annum.
GROUND RENT
Ground rent is charged at £309 per annum.
SERVICES
The heating is electric wall mounted heaters and the property is understood to all be connected to mains water, electric and sewerage.
TENURE
The property is leasehold and the lease is 999 years starting for 2004. All leasehold information should be confirmed with a legal advisor.
COUNCIL TAX BAND
Council Tax is payable to the East Riding of Yorkshire Council. The property is shown on the Council Tax Property Bandings List in Valuation Band 'A'.
EPC - C
VIEWING
Strictly by appointment with the sole agents.
FREE VALUATION
If you are looking to sell your own property, we will be very happy to provide you with a free, no obligation market appraisal and valuation. We offer very competitive fees and an outstanding personal service that is rated 5 star by our fully verified clients.
ANTI-MONEY LAUNDERING (AML) REGULATIONS
In accordance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, we are required to carry out identity checks on all purchasers. A charge of £25 + VAT per person will be payable by the purchaser to cover the cost of these checks. This fee is non-refundable and is payable upon acceptance of an offer.
Tenure : Leasehold
Council Tax Band : A
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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