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£625,000
Bedrooms
Bathrooms
This spacious four-bedroom semi-detached family house offers incredible potential for transformation placed with Whitehorse Lane Meadow to the rear and over looks Grangewood Park to the front. Having been owned by the same family for approximately 40 years, it comes with a strong sense of history and provenance. The ground floor includes a large, separate reception room (note: the fire surround is not included), and a bright open-plan living, dining, and kitchen area with doors opening onto a decking area that overlooks the rear garden, ideal for entertaining. There is a substantial basement, which could be converted into an additional living space, subject to necessary consent and an outside WC for added convenience. Upstairs, there are four generously sized bedrooms and a family bathroom. The property does require modernisation, but offers a fantastic opportunity to create a personalized dream home. The house was underpinned in 1992 no building regulations found for this and the open plan kitchen. Probate has been applied for but not yet granted. The house is conveniently situated near the scenic Grangewood Park and benefits from excellent transport links, including Norwood Junction BR/Overground Station and Thornton Heath Station. No onward chain and an internal viewing is highly recommended to fully appreciate its potential.
Tenure : Freehold - Croydon council band E - EPC: To be confirmed
We carry out best endeavours to make our marketing material accurate and reliable, however they do not form part of any contract and are not to be relied upon. Any buyers are advised to seek verification from their solicitor or surveyor.
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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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