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£120,000
Bedrooms
Bathrooms
THIS SPACIOUS TWO BEDROOMED STONE MID-TERRACE IS SITUATED CLOSE TO BACUP AND RAWTENSTALL GRAMMAR SCHOOL AND WITHIN WALKING DISTANCE TO WATERFOOT CENTRE, WITH SHOPS, SCHOOLS AND TRANSPORT LINKS. INTERNALLY THE PROPERTY COMPRISES OF AN ENTRANCE VESTIBULE, LOUNGE, KITCHEN, TWO BEDROOMS, AND A BATHROOM. THIS PROPERTY IS IDEALLY SUITED FOR A FIRST TIME BUYER/INVESTOR AND EARLY VIEWING IS STRONGLY RECOMMENDED.
Internally as you enter the property there is an entrance vestibule, a good-sized lounge, the kitchen has a range of wall and base units, with complementary work surfaces. At first floor level, there is a landing area with attic access. Both bedrooms are a generous size with neutral decor. The bathroom has a matching three-piece suite in white comprising a panelled bath with shower above, pedestal wash hand basin and low level WC. The attic space could be converted into a 3rd bedroom (STPP), there used to be a pull down ladder (currently sat in the attic room) however this has been temporarily decommissioned whilst the current occupier had no need for it.
Externally, the front of the property is built flush to the pavement, and there is an enclosed rear yard.
GROUND FLOOR
Entrance Vestibule
Lounge - 4.26m x 3.96m
Kitchen - 3.44m x 2.46m
FIRST FLOOR
Landing
Master Bedroom - 3.76m x 2.83m
Bedroom 2 - 3.69m x 2.52m
Bathroom - 1.6m x 1.65m
COUNCIL TAX
We can confirm the property is council tax band A - payable to Rossendale Borough Council.
TENURE
We can confirm the property is Leasehold - 1000 years from 1 May 1895 - 867 years remaining - Rent : 26.26 per annum
LOCATION
Waterfoot, a vibrant town in the Rossendale Valley, offers a delightful mix of natural beauty and cultural attractions. Outdoor enthusiasts can explore scenic walking routes, such as the 60-minute trail weaving through Edgeside Park and the Pennine Bridleway, or the 90-minute hike up Seat Naze Hill, known for its stone circle and panoramic views. For a more challenging adventure, the circular walk from Waterfoot to Cowpe Lowe and Waughs Well provides a rewarding experience. After a day of exploration, visitors can unwind at local eateries. Cultural experiences abound with venues like The Boo Theatre, home to Horse + Bamboos unique performances, and the New Millennium Theatre, showcasing local talent. With its blend of outdoor adventures and artistic flair, Waterfoot is a charming destination for all.
PLEASE NOTE
All measurements are approximate to the nearest 0.1m and for guidance only and they should not be relied upon for the fitting of carpets or the placement of furniture. No checks have been made on any fixtures and fittings or services where connected (water, electricity, gas, drainage, heating appliances or any other electrical or mechanical equipment in this property)
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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