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£175,000 Guide Price
Bedrooms
Bathrooms
The proposed development at the rear of Green Lane is for a single detached bungalow style dwelling with 1-bedroom, off-site parking, secure cycle storage, and refuse stores. The design has been carefully improved to make the best use of the vacant land while fitting in with the local character of the area.
Planning Considerations
Located within a former rear garden of 191 Green Lane and is currently vacant land. It is accessed via a lane between 191 and 195 Green Lane. The site has good road links and is within walking distance of bus routes and a train station, making it a sustainable location for development.
The previous applications for a single storey, 1-bed dwelling on the site were withdrawn and dismissed on appeal. The main concerns raised were related to the principle of development, design, standard of accommodation, and impact on neighbouring amenity. These concerns have been addressed in the revised design proposal.
The revised design proposal includes key improvements such as a smaller footprint, increased amenity open space, larger rear garden, and improved internal layout and circulation. These changes ensure that the proposed house fits well within the local context, maintains the character of the area, and provides comfortable living spaces for future occupants.
The proposed scheme meets requirements of national and local planning policies, including the National Planning Policy Framework and the Royal Greenwich Local Plan. It supports the objectives of providing sufficient housing, protecting the environment, making effective use of land, and maintaining the character of the area.
Planning was granted on 25th June 2021, and the Council has been sent a building notice to counteract the lapse time. It is also important to note, the current owner has started the foundation which has secured the planning in place.
The owner has also secured an indemnity insurance provider, which will need to be taken forward by the successful buyer.
For Further Details Call Jatinder on
Council tax band: C
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £756.82
Total Interest: £97,454.13
Overall Total: £272,454.13
Amortization For Monthly Payment: £756.82 over 30 years ( Based on 3.20% Interest )
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 2025 | £5,548.48 | £3,533.33 | £171,466.67 |
| 2026 | £5,433.74 | £3,648.07 | £167,818.61 |
| 2027 | £5,315.27 | £3,766.53 | £164,052.07 |
| 2028 | £5,192.96 | £3,888.85 | £160,163.23 |
| 2029 | £5,066.67 | £4,015.13 | £156,148.10 |
| 2030 | £4,936.29 | £4,145.52 | £152,002.58 |
| 2031 | £4,801.67 | £4,280.13 | £147,722.45 |
| 2032 | £4,662.68 | £4,419.13 | £143,303.32 |
| 2033 | £4,519.17 | £4,562.63 | £138,740.69 |
| 2034 | £4,371.01 | £4,710.79 | £134,029.90 |
| 2035 | £4,218.03 | £4,863.77 | £129,166.13 |
| 2036 | £4,060.09 | £5,021.71 | £124,144.41 |
| 2037 | £3,897.02 | £5,184.79 | £118,959.62 |
| 2038 | £3,728.65 | £5,353.16 | £113,606.47 |
| 2039 | £3,554.81 | £5,526.99 | £108,079.48 |
| 2040 | £3,375.33 | £5,706.47 | £102,373.00 |
| 2041 | £3,190.02 | £5,891.78 | £96,481.22 |
| 2042 | £2,998.69 | £6,083.11 | £90,398.11 |
| 2043 | £2,801.15 | £6,280.65 | £84,117.46 |
| 2044 | £2,597.20 | £6,484.60 | £77,632.86 |
| 2045 | £2,386.62 | £6,695.18 | £70,937.68 |
| 2046 | £2,169.21 | £6,912.60 | £64,025.08 |
| 2047 | £1,944.73 | £7,137.07 | £56,888.00 |
| 2048 | £1,712.96 | £7,368.84 | £49,519.16 |
| 2049 | £1,473.67 | £7,608.13 | £41,911.03 |
| 2050 | £1,226.61 | £7,855.20 | £34,055.83 |
| 2051 | £971.52 | £8,110.28 | £25,945.55 |
| 2052 | £708.15 | £8,373.65 | £17,571.90 |
| 2053 | £436.23 | £8,645.57 | £8,926.33 |
| 2054 | £155.48 | £8,926.33 | £0.00 |
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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Fri May 09 2025
All confirmed! We look forward to speaking with you.
Fri May 09 2025
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