5 bedroom detached for sale

£725,000 Guide Price

5

Bedrooms

3

Bathrooms

Floorplan

Remarkably spacious modern home with a suite of rooms on the ground floor equally ideal as an annexe for a dependent relative or as part of the main accommodation Up to 6 bedrooms Whirlpool bath to ground floor bathroom Pleasant garden with summerhouse Off-street parking Popular location

The Property - This remarkably spacious modern detached home provides very versatile accommodation. In addition to the open-plan dining room and L-shaped sitting room, there is a third large reception room ideal as family room, study, studio or office; indeed, with its en suite bathroom, it is also ideal as a bed-sitting room for a dependent relative. The adjoining utility room could easily be converted to a small kitchen for the annexe. The kitchen and a cloakroom/WC complete the ground floor.

The first floor is equally impressive, with five bedrooms and a well appointed family bathroom. The master bedroom has an en suite shower room.

The house benefits from uPVC double-glazed windows and gas fired central heating.

The Outside - The house stands in a corner plot measuring approximately 879' by 456' (26.75m x 13.86m) overall. To the front are shrub borders and a herring-bone brick-paved forecourt providing off-street parking.

The rear garden is some 46 (14m) in depth and laid to lawn with an area of decking, herbaceous borders and ornamental shrubs and trees. Timber summerhouse.

The Location - Although the address reads Penn Way, the house is in reality positioned in the residential close of Pear Tree Dell. Penn Way is located in the popular Lordship area on the south side of the town and No 55 is less than a mile-and-a-half from the town centre and within a mile and three-quarters of the mainline railway station. Letchworth Garden City is on the Cambridge to London mainline and regular services run throughout the day. The fastest service to London Kings Cross takes just 29 minutes and Cambridge is 28 minutes away in the other direction. Junction 9 on the A1(M) is just over a mile away by car.

Designed in the early 20th Century to combine the benefits of town and country, Letchworth Garden City was the worlds first example of this concept and succeeds to this day in achieving its aim. The town provides excellent schools, shops, leisure facilities and green open spaces. The highly regarded Lordship Farm Primary School is within a third of a mile and it is less than a half-mile walk to the village of Willian with its pubs and other amenities.

Tenure - LEASEHOLD: 990 year term with 935 years remaining. Ground Rent: 5 pa.

Restrictive Covenants - A restrictive covenant is a clause in an agreement that restricts, limits, prohibits, or restricts how owners can use a property. These could include: property use (e.g., business and rental use), the number and type of vehicles allowed on the property, fence height and type, removal of trees, paint colours for the front door or garage, installation of satellite dishes and even types of animals allowed at the property. For more information, please ask the agent.

Easements - Having an easement on your property means that a third party (an individual or a utility company for example) has a right to use your property for a particular purpose. This could be passing by foot or with vehicles over your property, or a right to pass service media for utilities on, over or under your property. An easement could also allow a neighbour to access your property in order to carry out repairs to their own property. For more information, please ask the agent.

Construction - Of insulated cavity construction under a pitched tiled roof.

Services - Mains water, sewerage, gas and electricity are connected to the property.

Broadband Speed - A choice of providers with claimed download speeds of up to 1000 Mbps.

Mobile Signal - Most providers claim up to 4G coverage, O2 claims to provide 5G.

Conservation Area - The property is not located within a Conservation Area.

The Letchworth Garden City Heritage Foundation - To maintain the integrity of the Garden City concept and design, properties are subject to the additional planning requirements of the Heritage Foundation.

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Flooding - Properties can be at risk of flooding and it is important for you to check if the property has been flooded in the last 5 years, what flood defences are in place and source of any flooding. For more information, please ask the agent.

Mortgage Calculator

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 )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 600825

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 18125
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

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.

Annual Costs

£ 57075
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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£
  %

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.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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