Inverkip Close, Lee-On-The-Solent, Hampshire, PO13

1 /2
Available / For Sale

4 bedroom detached for sale

£635,000 Guide Price

4

Bedrooms

1

Bathrooms

Floorplan

A superb opportunity to purchase a detached home in west Lee-on-the-Solent. Boasting 4 good sized bedrooms, large living room and separate dining room, 17 x 14 garage, separate bathroom and downstairs WC, a westerly rear garden and a deep, secure frontage. Being only one of three homes in the cul-de-sac, this really is a rare buy. The property is being sold chain free.

The accommodation comprises:

Replacement stable door into:

Entrance Hall:
With tiled flooring, replacement windows, access to:

WC:
Comprising WC and wash hand basin, window to the front.

There is a further door from the entrance hall into the garage. A third door leads to:

Inner Hallway:
With attractive spindle and balustrade stairs to first floor accommodation and useful understair alcove, radiator. Access to:

Living Room: 199 x 1110 (6.02m x 3.61m)
A particular feature of this property is the large living room which features sliding patio doors which lead out to the rear garden and a double glazed window. There are two radiators, a stone fire surround with fitted gas fire and coved ceiling. Double doors lead into the:

Dining Room: 114 x 104 (3.45m x 3.15m)
With a double glazed window overlooking the rear garden, radiator, coved ceiling, twin doors returning to the kitchen and a further door that takes you back to the entrance hall.

Kitchen: 105 x 810 (3.17m x 2.69m)
The kitchen has a range of fitted units with tiled worktops above. There is a cooker and appliance space, fitted cooker hood, door leading out to the side and double glazed window to the front. To one wall is a Potterton floor standing hot water boiler. There is a coved ceiling and tiled flooring.

First Floor Landing:
Window to the front elevation, built in hot water cylinder cupboard, access to loft space.

Bedroom 1: 1110 x 109 (3.61m x 3.28m)
With a double glazed window to the rear elevation, radiator, coved ceiling, wall of wardrobes.

Bedroom 2: 1110 x 106 (3.61m x 3.20m)
With a double glazed window to the rear elevation, radiator, coved ceiling.

Bedroom 3: 113 x 90 (3.43m x 2.74m)
With a double glazed window to the front elevation, radiator, coved ceiling.

Bedroom 4: 118 x 90 (3.56m x 2.74m)
With a double glazed window to the front elevation, fitted wardrobes.

Bathroom: 80 x 60 (2.44m x 1.83m)
Comprising of panel bath, pedestal wash hand basin, splashback tiling, WC, radiator and window to the rear.

Outside:
There is a deep frontage enclosed with an attractive wrought iron lockable gate which leads to a private drive. The front garden has areas of lawn, flowers and shrub borders, pond and is very mature. There could be additional parking space at the front if required. There is side pedestrian access to the:

Rear Garden:
Again very mature with areas of lawn, flowers and shrub borders and pond. You are not directly overlooked from the rear and the rear garden has a westerly aspect.

Garage: 171 x 140 (5.21m x 4.27m)
Accessed from the inner hallway with plumbing for an automatic washing machine and further appliance space, vehicular door to the front, power and light, window to the side.

Mortgage Calculator

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

Monthly Payment: £2,746.16

Total Interest: £353,619.25

Overall Total: £988,619.25

Amortization For Monthly Payment: £2,746.16 over 30 years ( Based on 3.20% Interest )

YearInterest Principal Balance 
2025£20,133.04 £12,820.93 £622,179.07 
2026£19,716.70 £13,237.27 £608,941.80 
2027£19,286.84 £13,667.13 £595,274.67 
2028£18,843.02 £14,110.95 £581,163.71 
2029£18,384.79 £14,569.18 £566,594.53 
2030£17,911.68 £15,042.30 £551,552.23 
2031£17,423.20 £15,530.77 £536,021.46 
2032£16,918.86 £16,035.11 £519,986.34 
2033£16,398.15 £16,555.83 £503,430.51 
2034£15,860.52 £17,093.46 £486,337.06 
2035£15,305.43 £17,648.54 £468,688.52 
2036£14,732.32 £18,221.65 £450,466.87 
2037£14,140.60 £18,813.37 £431,653.49 
2038£13,529.67 £19,424.31 £412,229.18 
2039£12,898.89 £20,055.09 £392,174.10 
2040£12,247.63 £20,706.34 £371,467.75 
2041£11,575.22 £21,378.75 £350,089.00 
2042£10,880.98 £22,072.100 £328,016.00 
2043£10,164.19 £22,789.78 £305,226.22 
2044£9,424.13 £23,529.85 £281,696.37 
2045£8,660.03 £24,293.95 £257,402.42 
2046£7,871.12 £25,082.86 £232,319.57 
2047£7,056.59 £25,897.39 £206,422.18 
2048£6,215.61 £26,738.37 £179,683.82 
2049£5,347.32 £27,606.65 £152,077.16 
2050£4,450.84 £28,503.14 £123,574.02 
2051£3,525.24 £29,428.74 £94,145.28 
2052£2,569.58 £30,384.39 £63,760.89 
2053£1,582.89 £31,371.08 £32,389.81 
2054£564.16 £32,389.81 £0.00 

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

£ 514,075

Mortgage Loan to Value

81%

Gross Yield

12%

Annual ROI

35%

Annual Rental Profit

£ 34,648

Cumulative Rental Profit

£ 346,482

Cost of Purchase

£ 37,825
  • Stamp Duty
    £ 19,250

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

  • Refurbishment Budget
    £ 15,875
  • 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

£ 41,552
  • Mortgage Interest
    £ 23,133

    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)
    £ 10,058
  • Letting Fee
    £ 240
  • Maintenance
    £ 7,620
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

Adjust these figures

  %
  %
£
  %

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

£ 708,005
  • Final Equity Profit
    £ 361,523

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

  • Cumulative Rental Profit
    £ 346,482

    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

£ 1,034,348

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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