3 bedroom detached for sale

£255,000 Guide Price

3

Bedrooms

Floorplan

This spacious, three-bedroom, detached property, with generous driveway parking, a garage and a rear enclosed garden is an exciting proposition in the centre of Mullion, walking distance from all the village amenities and around a mile from the beautiful beaches of Polurrian and Poldhu.

The property has a dual-aspect lounge/ dining room, with patio doors into the conservatory at the rear. There is also an interconnecting kitchen and utility room with a door into the conservatory which then leads into the enclosed rear garden, mostly laid to lawn.

Upstairs there is a shower room with separate WC, two spacious double bedrooms and a single bedroom. The property has lots of natural light and a straightforward and clean design, constructed in the late 1970s. Having been let out for a number of years now, the property has plenty of potential for the incoming purchaser to refurbish to their own style.

The property is nicely set back from the road with a driveway providing a parking area for multiple cars, boats or vans.

Please note, the property has Timber Frame Construction. Please discuss this with your mortgage provider as lenders terms vary considerably for this type of construction.

EPC E
Council Tax Band C
Electric Storage Heaters
Electric Immersion for Hot Water


LOCATION :

Around 8 miles south of the town of Helston, Mullion is the largest village on the Lizard peninsula and it is also one of the most picturesque. As well as having its own primary and secondary schools, the village is home to an assortment of shops, art galleries, pubs and tearooms, plus Mullion Cove which is an idyllic working harbour. The stunning beaches of Polurrian and Poldhu are both around a half an hours walk away,

The most southerly point of mainland Britain, the Lizard peninsula is a place like no other. The sea seems a touch bluer, the light a little brighter and the land a littler flatter! The geology is unlike anywhere else in Cornwall, with rocks that formed 350 million years ago responsible for the unique landscape, a plateau surrounded by robust sea cliffs, here and there providing a safe haven for a small harbour or fishing village.

The Lizard peninsula provides unique opportunities for adventure with a myriad of outdoor activities on your doorstep. Whether you are into bird watching, hiking, sea kayaking or surfing, there truly is something for everyone.


ANTI MONEY LAUNDERING REGULATIONS - PURCHASER
We are required by law to ask all purchasers for verified ID prior to agreeing a sale.

PROOF OF FUNDS PURCHASERS
Prior to agreeing a sale, we will require proof of financial ability to purchase which will include an agreement in principle for a mortgage and/or proof of cash funds.

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

£ 213075

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

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

  • Refurbishment Budget
    £ 6375
  • 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

£ 21825
  • 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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