3 bedroom semi-detached for sale

£145,000

3

Bedrooms

Floorplan

50% Shared Ownership Property | 3 Bedroom Home in Popular Residential Location | Beautifully Presented | Landscaped Garden | Downstairs WC | Private Driveway

This attractive, modern, semi-detached property is quietly positioned in the popular Kings Acre residential area which lies approximately 1.5 miles west of Hereford. Close by is an excellent range of amenities including primary and secondary schooling, park, church, parade of shops, inns, post office and bus services. The property has easy access to Wyevale garden Centre and walks across open countryside towards Breinton and along the river.

Available to Purchase at a 50% Share of the Freehold

Situated in a peaceful residential cul-de-sac, 12 Bredon Drive is a beautifully presented three-bedroom semi-detached home, ideal for first-time buyers or young families. Offered at a 50% share of the freehold, this thoughtfully upgraded property combines modern living with a warm, welcoming atmosphere.

To the front of the property is a spacious tarmacked driveway offering ample off-road parking. A gated side passage leads through to the enclosed rear garden.

Upon entering the home, youre greeted by a bright hallway with stairs rising to the first floor and a useful downstairs cloakroom. At the front of the property, the modern kitchen is fitted with an attractive range of shaker-style wall and base units, solid wood worktops, and integrated appliances including an oven, gas hob, and dishwasher. There is additional space for further appliances.

To the rear, the generously proportioned living room provides a perfect space for both relaxing and entertaining. With plenty of room for a dining table and large sofa, this inviting space overlooks the rear garden and features direct access via a single door.

Upstairs, the property offers three bedrooms. The master bedroom enjoys views over the garden and benefits from built-in storage. Bedroom two is a spacious double room, while bedroom three is a well-sized single perfect as a nursery, home office or guest room. The family bathroom is finished in a contemporary style with a clean white suite and shower over the bath.

The south-facing rear garden has been attractively landscaped, featuring a smart patio area, low-maintenance artificial lawn, a covered seating area ideal for outdoor dining, and a useful garden shed for additional storage.

Shared Ownership:
The property is sold at a 50% share with the remaining 50% owned/managed by Citizen Housing. There is a rental payment to Citizen Housing of 328.76 per calendar month plus an additional 65.52 service charge per month.
The lease length is 79 years from 2005.
There is an option to staircase the shared ownership to a maximum of 80% of the full ownership.

Any potential buyer would need to be approved by Citizen Housing via a financial advisor from CenseoFinance. Details of the application can be provided by the agent.

The following criteria applies:
Citizen is the Landlord and must be involved with the sale/purchase of this property.
The property cannot be sold above or below Market value.
The potential buyer MUST meet ONE of the following:
You have to be either a First Time Buyer, and the house hold income is 80,000 a year or less.
If you have previously owned a home but cannot afford to buy one now.
You are an existing shared owner and want to move.
You own a home and want to move but cannot afford a new home that meets your needs.
Forming a new household for example:
After a relationship breakdown.
NO INVESTORS.
For some homes you may have to show that you live in, work in, or have a connection to the area where you want to buy a home.

Mortgage Calculator

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

Monthly Payment: £627.08

Total Interest: £80,747.70

Overall Total: £225,747.70

Amortization For Monthly Payment: £627.08 over 30 years ( Based on 3.20% Interest )

YearInterest Principal Balance 
2025£4,597.31 £2,927.61 £142,072.39 
2026£4,502.24 £3,022.68 £139,049.70 
2027£4,404.08 £3,120.84 £135,928.86 
2028£4,302.74 £3,222.19 £132,706.67 
2029£4,198.10 £3,326.82 £129,379.85 
2030£4,090.07 £3,434.86 £125,944.100 
2031£3,978.53 £3,546.40 £122,398.60 
2032£3,863.36 £3,661.56 £118,737.04 
2033£3,744.46 £3,780.47 £114,956.57 
2034£3,621.69 £3,903.23 £111,053.34 
2035£3,494.94 £4,029.98 £107,023.36 
2036£3,364.07 £4,160.85 £102,862.51 
2037£3,228.96 £4,295.97 £98,566.55 
2038£3,089.45 £4,435.47 £94,131.07 
2039£2,945.42 £4,579.51 £89,551.57 
2040£2,796.70 £4,728.22 £84,823.35 
2041£2,643.16 £4,881.76 £79,941.58 
2042£2,484.63 £5,040.29 £74,901.29 
2043£2,320.96 £5,203.97 £69,697.33 
2044£2,151.97 £5,372.96 £64,324.37 
2045£1,977.49 £5,547.44 £58,776.93 
2046£1,797.34 £5,727.58 £53,049.35 
2047£1,611.35 £5,913.58 £47,135.77 
2048£1,419.31 £6,105.61 £41,030.16 
2049£1,221.04 £6,303.88 £34,726.28 
2050£1,016.33 £6,508.59 £28,217.69 
2051£804.98 £6,719.95 £21,497.74 
2052£586.76 £6,938.17 £14,559.57 
2053£361.45 £7,163.48 £7,396.10 
2054£128.82 £7,396.10 £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

£ 115,075

Mortgage Loan to Value

79%

Gross Yield

12%

Annual ROI

34%

Annual Rental Profit

£ 7,445

Cumulative Rental Profit

£ 74,448

Cost of Purchase

£ 6,325
  • Stamp Duty
    £ 0

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

  • Refurbishment Budget
    £ 3,625
  • 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

£ 9,955
  • Mortgage Interest
    £ 5,178

    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)
    £ 2,297
  • Letting Fee
    £ 240
  • Maintenance
    £ 1,740
  • 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

£ 159,313
  • Final Equity Profit
    £ 84,865

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

  • Cumulative Rental Profit
    £ 74,448

    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

£ 236,190

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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