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£550,000
Bedrooms
Bathrooms
An extremely rare opportunity to acquire a spacious 3 double bedroom detached house occupying a fine position within The Turnpike, which is a small established cul-de-sac of just 5 individual, detached properties and is widely recognised as one of the best residential locations in Ely. The property has been recently extended and subject to a number of significant improvements to create an excellent family home. In brief, the accommodation comprises:- reception hall, cloakroom, 3 reception rooms, spacious kitchen, 3 double bedrooms and 2 bath/shower rooms (1 en suite). Heating is gas fired to radiators and the windows are Upvc sealed unit double glazed. There are established gardens to the front and rear, off road parking for several cars and an attached single garage. The Council Tax is currently Band E and the EPC rating is currently Band D.
Ely is a charming cathedral city with a good range of day-to-day facilities, schools catering for all age ranges, excellent sports and leisure opportunities and a mainline railway station with regular services to Cambridge and London, which is just over an hours journey. The property is ideally situated just a few hundred yards from the Citys 18 hole golf course and for access to the highly regarded independent school, Kings Ely.
Reception Hall: - Wood block flooring and Stair to first floor.
Cloakroom: - Low Level WC and wash hand basin.
Family Room/Study: - Desk unit and double doors to adjoining sitting room.
Sitting Room: - Fireplace.
Kitchen: - Tiled floor, sink unit, under floor heating, range of base and wall cabinets, integrated fridge/freezer, dishwasher and electric oven with gas hob and extractor hood above. Under stairs storage cupboard, open access to adjoining dining room and door to garage.
Dining Room: - Wood block flooring and French doors to rear garden.
First Floor: -
Landing: - Airing cupboard with insulated hot water cylinder and loft hatch, with ladder attachment to attic, which has lighting and is insulated and boarded.
Bedroom 1: - Built in wardrobes and door to en suite.
En Suite Shower Room: - Low level WC, pedestal wash basin and shower cubicle.
Bedroom 2: - Built in cupboard/wardrobe.
Bedroom 3: - Pedestal wash basin.
Bathroom: - Low level WC, pedestal wash basin and panelled bath.
Outside: - The property is set back from the road behind established shrubs and bushes. A block paved driveway provides parking for several cars and access to an attached Single Garage with up and over door to front, power and light. Gated pedestrian access to either side of the property leads to the rear garden, which is fully enclosed and contains an area of lawn, established shrubs and bushes, an extensive paved terrace and a garden shed.
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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