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£75,000
Bedrooms
Ideally suiting the property investor this is a double fronted, heavily extended end terraced house conveniently located close to local shops and amenities and with the potential of providing a healthy rental yield. This home is currently rented for 700 PCM. A new boiler was installed in October 2022.
The property offers well proportioned accommodation which briefly comprises on the ground floor; lounge, dining room, kitchen, rear lobby and cloakroom/w.c. To the first floor there are three/four bedrooms and a family bathroom w.c. Externally there are gardens to the rear and a garage.
Silverdale Place is located close to a range of local shops and amenities including schools for all age groups and a regular bus service. A more comprehensive range of shopping and recreational facilities and amenities are available in Newton Aycliffe town centre which is a very short drive away.
Lounge - UPVC door, double glazed window, radiator and flooring.
Play Room - Double glazed window to the front of the property, radiator and flooring.
Dining Room - Double glazed window to the rear of the property, radiator and flooring. leading onto the open plan:-
Kitchen - Fitted with a range of wall and base units, plumbing for an automatic washing machine, double glazed window overlooking the rear garden and UPVC door to the rear.
Downstairs WC - With a low level WC and hand wash basin
First Floor
Landing - Access to all three bedrooms and the family bathroom
Master Bedroom - With a double glazed window, Radiator and flooring.
Bedroom Two - With a double glazed window, Radiator and flooring.
Bedroom Three - With a double glazed window, radiator and access to the play room / dressing room .
Dressing Room / Bedroom Four - Open plan with bedroom three.
Family Bathroom - With a three piece suite, including a low level WC, hand wash basin and panel bath with overhead shower.
External - A lovely landscaped garden and a garage.
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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