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£65,000 Guide Price
Bedrooms
Bathrooms
Two bedroom semi-detached
Excellent buy-to-let investment property available with tenant in situ. The property is a two bedroom semi detached house situated in a quiet residential area in Wishaw. The accommodation is made up of an entrance hallway with large storage area, spacious lounge with front and rear aspects and kitchen with external door leading to the rear garden. Upstairs, there are two good sized double bedrooms and a family bathroom. The property benefits from gas central heating, double glazing throughout, gardens to front and rear, and ample on street parking. The current tenant pays 495 per calendar month, this investment offers a 9% rental yield if purchased at Guide Price and in excess of 20% discount to Home Report value of 85,000. This is a fantastic opportunity for a landlord looking to add to their portfolio or for an investor looking to become a landlord with rental income from day one.
Area
The property is located close by to central Wishaw which offers a wide range of shopping facilities, sports facilities, pubs, restaurants, bistros, and schooling. There are also excellent bus and train services linking the surrounding towns and cities and for those commuting by car, there is access to the M74 both North and Southbound which in turn links to the M8 to Glasgow and Edinburgh.
Purchasers notes
Please note that these particulars have been prepared by us on the basis of information provided by our client. If there is any aspect of these particulars that you wish clarified or that you find misleading please contact the office where further information will be made available.
€ No tests have been made of services, equipment or fittings.
€ No warranty is given or implied as to the condition of buildings, services, fixtures, fittings etc.
€ All measurements, distances and acres are approximate.
€ Fixtures, fittings and other items are not included unless specified in these details.
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Please be aware that there is a significant risk posed by cyber fraud, specifically affecting email accounts and bank account details. Please note that our bank account details will not change during the course of A transaction and we will not change our bank details via email. Please be careful to check account details with us in person if in any doubt. We will not accept responsibility if you transfer money into an incorrect account.
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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