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£449,950 Guide Price
Investment opportunity (HMO) with an elapsed grant of planning for a terrace of eight houses. Ideal opportunity for purchasers in a position to proceed immediately. The investment is situated within a courtyard, with access via an archway. The existing buildings are currently set out as 11 x one-bed/studio flats that produce a total of 66,420.00 gross p.a. Each unit is in average condition and would benefit from updating and decorating. The EPC for each unit is C. The elapsed planning was for a terrace of 8 x 1-bedroom houses with 4 x parking spaces and a bin & bike store. Planning was granted on the 24th July 2008, Application number: 7-2008-4052-T.
I have spoken with the architect that submitted the elapsed planning and he suggested putting in the application again would be a straightforward process. The vendor advises me that there are no known covenants. The site is well located and only a short stroll to public transport and shops. Bournemouth Town Centre is within easy reach. For further details, please contact Andrew Hooper on . More development land and investments available on our web site:
Development or Investment site (s), bought through Churchfield the purchaser is required to retain us. The minimum fee for this opportunity is 40,000.00 including Vat at the prevailing rate. For any Land, Development or Investments acquired, Churchfield must be instructed to re-sell the finished units at 1.8% including vat or re-let at 9.6% including vat (fully managed) the acquired property or the developed properties on a sole agency basis within five years of completion. If Churchfield are not instructed and the acquisition is sold or Let by the purchaser/s within this period, an additional fee of 1.8% including vat (minimum fee 3,400 including vat) of the original purchase price will be chargeable to the purchaser in addition to any other costs or charges agreed. Once the five-year period after completion of the purchase has expired, the purchaser is free to offer the acquisition to any third party with Churchfield having no financial interest.
Churchfield Offer a FREE Selling Service to Vendors of Land and Investments
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
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.
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