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£245,000
Bedrooms
Bathrooms
Offered to the market with no onward chain is this two bedroom semi-detached property which requires updating and modernisation throughout and has the potential for extension subject to the necessary planning consents. The property benefits from lounge, kitchen, ground floor bathroom, off road parking and a good size garden with views over farmland to the rear.
The lounge comprises of a log burner with double glazed window to the front and further double glazed window to the side. The kitchen has a sink inset into worksurface, space for washing machine, single glazed window to the side and two storage cupboards. The bathroom comprises of a panel bath, wash hand basin, W.C and a double glazed window to the rear with tiled walls, radiator. Leading off the kitchen is a further room which is an ideal storage room or utility room.
On the first floor landing is a double glazed window to the side aspect and access is given to the master bedroom with double glazed windows to the front. Bedroom two has a double glazed window to the rear and airing cupboard.
Outside
The property is approached over a shingle driveway providing off road parking with pathway leading up to the front door and further lawn garden to one side.
The rear garden commences with a paved patio area with the remainder being laid to lawn and enclosed by panel fencing.
Location
The property is lcoated in Little Bromley which is a popular village that is accessed from the A120 and is also within close proximity to Manningtree where there is a mainline railway station providing direct links to London Liverpool Street. There is an excellent primary school in Lawford and secondary school at Manningtree alongside a wide variety of shops including a Tesco and a Coop with restaurants, public houses, hairdressers, doctors and dentists.
Directions
Please use the postcode CO11 2PY for SatNav.
Important Information
Council Tax Band - B
Services - We understand that mains water and electricity are connected to the property. Drainage is to a cesspit.
Tenure - Freehold
EPC rating - tbc
Ref - MAN250076/BW
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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