When using a buy to let mortgage to buy an apartment at Apogee Living, the total investment amount you need is just £45,000.
After payment of your mortgage (based on 4% fixed interest only), your net income return on investment increases to 10% plus per annum as a result of leveraging the use of a BTL mortgage at 75% LTV. This doesn't include your capital appreciation. Over a 5 year period, your forecasted return increases to 100%+.
HANDS FREE INVESTMENT
When you invest with Apogee Living you will be assured a 6% yield for the first two years being located in the desirable area of Norwich you will find that demand couldn’t be higher for city centre apartments which boast fantastic views.
Your Apogee living property will be fully managed including day-to-day maintenance and upkeep of the building so you can be assured that your asset is to a market leading standard.
how your yield is calculated
Estimate is based on 1 bedroom prices at £180,000
Monthly Rent£1000
Standard Tenancy Length12 months
Gross Annual Rent£12,000
Annual Management Costs£1,200
NET ANNUAL INCOME£10,800
2 YEAR RENTAL ASSURANCE
Apogee Living investments are offered with an assured rental return.
For two years while the development establishes itself in the market, you will receive assured rental yields.
5-Year Overview
Based on using a 75% LTV BTL Mortgage
| Stage | Value | Capital Appreciation | Rental Yield | Rental Income |
|---|---|---|---|---|
| Pre-Completion | £180,000 | 3% | - | - |
| Year 1 | £185,400 | 3% | 6% | £6,089 |
| Year 2 | £190,962 | 3% | 6% | £6,089 |
| Year 3 | £196,961 | 3% | 6% | £6,089 |
| Year 4 | £202,592 | 3% | 6% | £6,089 |
| Year 5 | £208,669 | 3% | 6% | £6,089 |
| Total Appreciation: | £28,669 |
| Total Return: | £59,112 |
| Return on investment | 131.36% |
| Invest in Apogee Living for | £45,000 |
| Total Rent | £30,442 |
Example of Completion Statement
(Upon selling in 5 years time)
| Completion Statement | Price(£) |
|---|---|
| Sale Price | £208,669 |
| Pay off Mortgage | £135,000 |
| Difference | £73,669 |
| 5 Year Rental Return | £30,443 |
| Gross Return | £104,112 |
| Less Cash Deposit | £45,000 |
| Net Return | £59,112 |
BUY-TO-LET MORTGAGES
This type of mortgage is used when purchasing a property as an investment, which will be let out via a license to occupy.
The deposit for a BTL mortgage is 25% of the purchase therefore 75% of the purchase price will be covered by the mortgage lender allowing you to take advantage of a higher return on capital invested when using a BTL mortgage. .
Affordability is less reliant on your personal income but based on what the property can be let out for.
ApoGee Living sales consultants will arrange the buy to let mortgage for you via our preferred mortgage broker.
Discuss your options with a specialist
Sales Process
With prices starting from £150,000 Westlegate & Boars Head is the perfect place for those looking to rent a space in an increasingly vibrant and growing city, with one of the fastest-growing universities in the UK and only a two-hour commute to London.
Need a mortgage?
If you’re looking to use a Buy-to-let mortgage all pre approvals are required to be qualified by Teal Finance.
Fees Explained
Fees
To complete your reservation of an apartment, you will have to pay a deposit of £5,000.
There's an administration fee of £299 + VAT applicable to all purchasers.
There's a searches fee of £400 + VAT applicable to all purchasers.
Upon exchange, 25% of the property purchase price is required, minus the £5000 reservation deposit. Exchange is required to take place three weeks after your solicitor receives the contract pack from our solicitor.
- £5,000 Reservation Deposit
- £299 + VAT Admin Fee
- 25% property value due on exchange