4 bedroom detached for sale

£420,000

4

Bedrooms

Floorplan

The Hornsea is a superb detached home with a garage, and a good-sized living room with double doors leading into a bright open plan kitchen/dining room - perfect for family life and entertaining. Its practical too, featuring a utility with outside access, a downstairs WC and three storage cupboards. Upstairs, bedroom one has an en-suite, with the spacious landing leading on to three further bedrooms and the main family bathroom.

With its vibrant High Street, superb transport links and close proximity to retail parks and other attractions, Erdington is often cited as one of the most up-and-coming areas of Birmingham, particularly attractive to first time buyers and families.

Holly Fields, 5 minutes from Erdington High Street and Train Station, is located within a wide range of schools and nurseries. For retail opportunities the High Street offers a selection of shops and services while The Fort, a retail park with larger brands such as Primark, Next and Sports Direct, is just a mile away. Attractions are not in short supply Birmingham hosts a fantastic selection of museums, entertainment venues, restaurants and historical sites.

Despite the close proximity to Birmingham city centre, there are several green spaces within easy reach of the development. Holly Lane Sports and Social Club, a 5-minute walk from the development, offers football pitches, tennis courts and a bowling green, while a 5-minute drive (or half-hour walk) will take you to Pype Hayes Park, a lovely area offering walking routes, landscaped gardens and a playground.

One of the main draws of this location is without a doubt the great transport links - from the development, its just a 14-minute drive to Birmingham city centre. Alternatively, you could take the train from Erdington Station (1.1 miles from Holly Lane) and be in Birmingham New Street within 15 minutes. The area is also served by an extensive bus network.

ROOM SIZES:

GROUND FLOOR
Hallway
Living Room: 15 7" x 10 11" (4.75m x 3.33m)
Kitchen/Diner: 17 1" x 10 2" (5.21m x 3.1m)
Utility
WC

FIRST FLOOR
Landing
Store
Bedroom 1: 14 4" x 10 2" (4.37m x 3.1m)
En-suite
Bedroom 2: 12 3" x 9 2" (3.73m x 2.79m)
Bedroom 3: 9 4" x 9 2" (2.84m x 2.79m)
Bedroom 4: 9 6" x 6 12" (2.9m x 2.13m)
Bathroom

OUTSIDE
Driveway
Garage: 15 9" x 8 9" (4.8m x 2.67m)
Rear Garden

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

£ 349200

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

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
    £ 10500
  • 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

£ 34200
  • 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

  %
  %
£
  %

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

The Property has been saved to your favorites

Love the most
Second best
Meets our criteria
May be
Last resort

 / 5

Enquiry

Book an Appointment

Enter Details

Select Date and Time

GNB Property

10 Minute Meeting

  

Check all Details

Submit

Booking Confirmed

All confirmed! We look forward to speaking with you.

10 Minute Meeting

A calendar invitation has been sent to your email address.
Message