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53 Broad Street, Lyme Regis, Dorset
£595,000
Bedrooms
Bathrooms
Monks Way is a distinctive contemporary house completed in 2017 with attractive accommodation which has recently been extremely well maintained under the current ownership.
The property is set just off the picturesque Sherborne Lane an old packhorse route that dates back to Saxon times. The property offers excellent second home or holiday letting potential or as a primary residence.
Accessed from the Western side of the property a door opens into the spacious entrance hall with space for a desk and includes a storage cupboard for coats, a further loft space provides extra storage.
The hallway leads to the two bedrooms both including fitted wardrobes. The main bedroom benefits from patio doors that lead onto its own decked patio that benefits from the morning sun. A bed deck is a useful space with ladder for access. A family bathroom is fitted with a modern white suite including walk in shower and separate bath. Next to this a useful utility room is also found with worktop including inset sink and drainer. Appliance include space for a tumble dryer and washing machine, wall mounted gas combi boiler and a WC.
The open plan living room/kitchen is the feature room of the property and has contemporary windows and a vaulted ceiling creating a wonderfully light and airy space for entertaining. The kitchen area is fitted with a range of modern grey units comprising base cupboards and drawers with matching wall cupboards. White gloss worksurfaces with inset 1 bowl sink and drainer. Other fitted appliances include built in dishwasher, freezer, maim oven and microwave, five ring gas hob with extractor above and fridge. The living space is separated by a woodburner and currently houses a corner sofa and bifold doors that open onto the decking and add to light that pours in from the velux windows.
Outside
A short walk to the Woodmead Halls public car park where a permit can be purchased from Lyme Regis Town Council (please see website for details). Pedestrian access onto Sherborne Lane which provides a route to the local amenities. The gardens are predominantly laid to hard standing and include an area of decking, gravelled areas as well as a paved terrace to the rear. There are also some attractive views across the town towards the sea beyond.
Material information & Tenure
Local Authority: Dorset Council
Council Tax Band: D
Tenure: Freehold
Services
We are advised all mains services are connected.
Map location is not available for 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.
53 Broad Street, Lyme Regis, Dorset
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