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£1,650,000
Bedrooms
Bathrooms
Two adjoining five bedroom, three storey semi-detached Edwardian Villas set within one of the largest plots south of the High Street. The properties offer scope for modernisation and development and are located in a prime position on one of the most sought after roads close to the Marinas and Yacht Clubs. The property works well as two semi-detached villas or would be a magnificent house if combined.
Each property has its own title with number 3 having its own driveway, double garage and extensive garden with number 5 offering the potential to create off road parking and an extensive size plot. The combined gardens are approximately 0.3 acres, with number 3 having three quarters of the rear the land and number 5 has a garden approximately 100ft in length. The houses and gardens offer scope for extension and development subject to planning permission.
No.3 accommodation comprises:
Ground Floor: Entrance hall, sitting room, dining room, breakfast room, kitchen with larder, garden room, two cloakrooms
First Floor: three double bedrooms and bathroom
Second floor: Two bedrooms and landing with door adjoining the two properties
No.5 accommodation comprises:
Ground Floor: Entrance hall, cloakroom, sitting room, dining room, kitchen/breakfast room and garden room
First Floor: Three double bedrooms and bathroom
Second Floor: Two bedrooms and landing with door adjoining the two properties
The properties are within an easy short walk of Lymington High Street, the sailing clubs and the marinas. The beautiful Georgian market town of Lymington has many independent shops and the picturesque Quay. Lymington has a numerous highly regarded restaurants and designer boutiques and is surrounded by the outstanding natural beauty of the New Forest National Park. To the north are the New Forest villages of Brockenhurst and Lyndhurst and Junction 1 of the M27 which links to the M3 for access to London. There is also a branch line train link to Brockenhurst Railway Station (approx. 5.5 miles) which provides a half hourly service to London Waterloo with a journey time of approximately 90 minutes.
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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