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£25,000 Offers over
DUE TO THE LEVEL OF INTEREST RECEIVED ON THIS PROPERTY, WE ARE NO LONGER TAKING ANY FURTHER ENQUIRIES AT THIS TIME
Right on the edge of the pretty Mid Devon village of Coleford, with its character houses and thatched roofs, are 2 unconverted cob barns. There is no planning permission in place but the barns would suit a range of uses (subject to the necessary permissions). Please note that the barns are part of a local farm and were last used for agriculture.
The Poundhouse is a cob barn under a corrugated roof and has an area of land around it (a small amount of additional land maybe available in addition). Its footprint is approx. 50 sqm internally There is an existing field access from the highway which will be retained by the farm, but access could be granted from this to access The Poundhouse.
The Stores is a cob barn under a corrugated roof with no additional land. Its footprint is approx. 88 sqm internally
Please do not access the barns without an appointment due to health and safety.
Agents Note: The sellers are not looking for a subject to planning deal, the barns have been priced to sell as they are, without planning.
Please see the floorplan for room sizes.
Current Council Tax: NA
Approx Age: NA
Construction Notes: Cob
Utilities: None
Broadband within this postcode: NA
Drainage: None
Heating: None
Listed: No
Conservation Area: Yes
Tenure: Freehold
COLEFORD is a journey back in time, a prime example of a traditional Devon hamlet. It is a designated conservation area, with a whole host of irreplaceable listed cottages and buildings. It is also home to The New Inn, known locally for its outstanding food. It is no secret that Coleford is a beautiful village but it is also fit for a king. King Charles 1 is said to have visited Coleford during the civil war, stabling his horses there on the 22nd of July 1644, and inspecting his troops from the porch of Spencer Cottage. The nearest market town to Coleford, for a selection of modern facilities is Crediton 3 miles to the west.
DIRECTIONS
For sat-nav use EX17 5BZ and the What3Words address is ///estate.unafraid.encroach
but if you want the traditional directions, please read on.
When entering Coleford from Crediton, pass The New Inn on your right and continue to the crossroads. Turn left (towards Colebrooke) and the barns will be found on your left and right before leaving Coleford.
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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