3 bedroom semi-detached for sale

£500,000 Offers in excess of

3

Bedrooms

Set on Queens Road in Cheltenham on a sizeable plot with large frontage and equally impressive rear garden is this three bedroom semi-detached home.

Secluded from the road with a a long driveway and front garden area with walled frontage. The driveway sweeps down the side of the property to the detached garage at the rear. The rear gardens are large with both patio, lawn and a range of mature shrubs and fruit trees. The location is excellent, with Queens Road renowned for its mix of architecture from detached period villas to modern town houses. Cheltenham Spa Station is 500m to the west, whilst 800m to the west is Montpellier Promenade with its array of shops, bars and restaurants.

The house is a good size as it is but has the potential to be extended to provide more modern accommodation. For instance the current rear extension is a flat roof construction with a garden room, utility and cloakroom. This could be replaced with a modern kitchen family room in addition to the existing reception space. This would leave the current kitchen to be utilised as a utility room / boot room and WC.

The current accommodation comprises entrance hall giving access to both the sitting room at the front and kitchen to the rear. The sitting room has three large front facing windows and opens through to the dining room. This in turn links to the kitchen which has a separate side access. The extended reception room to the rear features a roof light and sliding doors out to the garden. There is also a small utility and cloakroom off.

Upstairs are three bedrooms with a family bathroom and separate cloakroom. There are two comfortable double bedrooms, one front facing and one rear, with a third single bedroom at the front.

We understand this property is a steel framed construction (believed to be a TruSteel MkII). The property has already had a borescope survey to assess the structural condition of the frame. That report shows no defects and is available to interested parties by request. If you are raising a mortgage you should consult your chosen lender to confirm they will lend on steel framed properties. Our understanding is that most mainstream lenders will.

Tenure: Freehold
EPC Rating: E
Council Tax Band: D
Chain Free

Mortgage Calculator

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 )

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

£ 415200

Mortgage Loan to Value

%

Gross Yield

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Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

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Cost of Purchase

£
  • Stamp Duty
    £

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

  • Refurbishment Budget
    £ 12500
  • 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

£ 40200
  • Mortgage Interest
    £

    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)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

Adjust these figures

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  %
£
  %

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

£
  • Final Equity Profit
    £

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

  • Cumulative Rental Profit
    £

    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

£

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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