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£330,000
Bedrooms
Bathrooms
A mid terrace property, currently arranged as a five bedroom HMO, benefitting from a rear garden, well located for the transport links and amenities of Basildon and Pitsea, with extension potential subject to requisite consents. Investment part let at 23,976.00 per annum (3 of 5 rooms let).
A two storey mid terrace property.
The property is currently arranged as a five bedroom house of multiple occupation.
Externally the property benefits from a rear garden.
Extension potential subject to requisite consents.
Property Type: 5-bedroom terraced house
Living Space: No separate sitting room, but a spacious kitchen/dining area where a sitting area can be set up easily
Licensing: Structured as an HMO, but not currently HMO licensed
Garden: Back garden available (weve collected quotations and plan to renovate it with a new look by next month). No front garden, but the front entry is spacious
Parking: On-street parking is consistently available
Floor Plan: Attached to the email
EPC Rating: C
Certificates:
oGas Safety Certificate Up to date
oElectrical Safety Certificate Up to date
Additional information
Tenure Freehold.
Accommodation
Ground Floor - Entrance Hallway, WC, Two Bedrooms, Shower Room/WC, Kitchen.
First Floor - Three Bedrooms, Bathroom/WC.
Tenancy
Room 1 - Let on an Assured Shorthold Tenancy 650 per calendar month (Holding Over).
Room 2 - Let on an Assured Shorthold Tenancy 700 per calendar month (Holding Over).
Room 3 - Let on an Assured Shorthold Tenancy 648 per calendar month (Holding Over).
Room 4 - Vacant. and Room 5 - Vacant. Vacant Rooms:
These could generate an estimated 650 and 670 per month respectively (including utility bills).
Rent
Current 23,976 per annum and Potential with all rooms let would be 39,816.00 with bills included worked out on approximate billing.
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.
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