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8% Yield – Off-Plan Apartments in Halifax

Mortgage Free Payment Plan
Guide Price

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Key Features

  • Mortgage Free Payment Plan
  • Just 8 Units Available
  • Regeneration Area
  • Off-Plan, New-Build
  • 8% Yield
  • Hands-Free

The Property

A contemporary selection of 70 x 1 and 2 bedroom apartments, located in the Illingworth area of Halifax, with the town centre just a 10-minute drive away.

Mortgage Free Payment Plan
Pay 5% reservation deposit, which is deducted from the purchase price, plus £850 legal fees.
The remaining 65% deposit is paid monthly for the duration remaining, until the development is built.
Once 70% has been paid, you are deemed to be the legal owner of the property and the 30% balance is paid by your tenants. Once 100% paid, all rental payments are directly paid to you.

This option is perfectly suited for clients;

• Without large lump sums accessible
• Prefer to keep existing investments where they are
• To use the property as a pension or savings plan
• No debt or mortgage
• Don’t qualify for a mortgage
• Have adverse credit history
• Pay the deposit from savings and/or earnings
• Overseas residents wanting UK property ownership which in turns builds a UK financial footprint enabling a UK bank account to be opened and creating a UK credit history

Once fully owned, you can remortgage based on the expected higher value to release equity to use as a deposit for other property purchases.
Once you are a property owner, your mortgage options become much more accessible and widely available.

All properties open to this kind of scheme can also be traditionally bought by way of a mortgage if you so wish. However, you can still pay monthly the 30% deposit over the build term after payment of the initial 5% reservation deposit. When the development is complete you can apply for a 65% LTV BTL mortgage which we can help with, if need be. Alternatively, you can pay the outstanding 65% as cash.

£66,995 - 1 bed starting price
£76,995 - 2 bed starting price

Completion: Q2 2021
Floors: 15
Apartment Sizes: 59m2 - 72m2
Lifts: 2
Parking: No
Service Charge: 1 bed £900 (estimated) / 2 bed £1,100 (estimated)
Ground Rent: £250 per annum (estimated)
Lease Terms: 125 years
Warranty: Provided by either NHBC, Zurich Municipal, Premier Guarantee, LABC or Build Zone

Planning Information


The Plan

The no mortgage plan:

Summary - 1-bed apartment GBP:
Purchase Price: £66,995
Legal Fees: £850
Total Due: £67,845

Reservation Stage
Reservation Deposit: 5% £3,349.75
Legal Fees: £850
Total Due: £4,199.75

Monthly Payment Stage: £43,546.75
65% Deposit divided by 6 months build schedule: £7,257.79 per month

Completion Stage
Stamp Duty (estimated if applicable): £2,009

Rental Payment Stage: £20,098.50
Plus Deferred Consideration Charge at 2.99%
Total Payable: £21,936.73

Yr 1 Rental £5,400
Yr 2 Rental £5,400
Yr 3 Rental £5,400
Yr 4 Rental £336.73

Estimated Gross Rental Income Per Month: £450 / Per annum £5,400
Estimate Yield based on above: 8.06%

Service Charge (estimated): £900
Ground Rent (estimated): £250
Tenant Management Fees @ 12% + vat: £777.60
Total Expenses* Per month £160.63 / Per annum: £1,927.60
Income net of expenses per month £289.37 / per annum: £3,472.40

The Location

The town centre enjoys a variety of amenities, bars and restaurants, and popular attractions including the Victoria Theatre, The Piece Hall and National Children’s Museum, Eureka.

There is a good selection of local schools and nurseries nearby, along with plentiful parkland and recreational areas. The nearest secondary school, the North Halifax Grammar School has received an Ofsted Outstanding rating. The local bus service links the development to the town centre, Sowerby Bridge, Mytholmroyd and Hebden Bridge which all access the cities of Leeds, Bradford and Manchester.

Halifax train station is located 2.6 miles away, having regular direct links to London, Manchester and Leeds. Both Manchester and Leeds Bradford International Airports are easily accessible via the M62 motorway junction close by.

Average estimated value for a house in HX2


• Halifax home to big businesses including Halifax Bank, Lloyds Banking Group HQ, McVities Cake Co, Nestlé UK Limited,
• Excellent transport links to the city centres main train and bus stations (10 min drive)
• Trains to London every hour, Manchester every 30 minutes and Leeds every 15 minutes.
• Nestled between the two northern powerhouses, Manchester and Leeds, Halifax is excellently positioned to satisfy the needs of today’s location-savvy commuter.
• 10 min drive to the Woolshops Shopping Centre.
• There is a rising population of young professionals and families in Halifax
• Halifax Recently ranked as one of LendInvest’s top 10 UK buy-to-let hotspots, Halifax is a town with huge potential.

Demand for affordable major city apartments is forcing tenants out to commuting areas. Property in Halifax is currently 27.5% more affordable than in Leeds.