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£850,000
''Planning Permission Granted ''
Planning granted for a split level 4-bedroom detached home with the principal accommodation set at the lower level facing onto the garden / deck area.
The front of the house faces south, and the principal rooms face east across the rear. The front of the proposed house is 46 metres distance from the main rear facade of the existing house at 14 East Ridgeway. The planning also includes a new gated driveway
Planning Application: 6/2016/1949/FULL
The Ridgeway is a prime address in Hertfordshire and benefits from excellent communications by both road and rail. Cuffley village is approx.1 mile away and provides local shops, and Cuffley main line station provides a regular service to Moorgate in 35 minutes. Potters bar is approx. 3 miles away and offers a more comprehensive range of shops and amenities with the mainline station provides services to both London Kings Cross and Moorgate in 18 minutes and 35 minutes respectively. Central London is approximately 20 miles away and the property is ideally placed for access to the national motorway network via the M25 or A1.
There is an excellent selection of schools nearby including Queenswood, Stormont, Lochinver House and Haileybury.
'Please note there is also a pre application submitted
Application Reference: 6/2022/2291/PA
Proposal: Pre-application advice for the increase in size of the 221sqm proposed single storey 4 bed split-level detached house (Planning Consent 6/2016/1949/FULL &
6/2020/1440/VAR) to become a 5 bed two storey split-level detached house to become 355sqm.
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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