7 bedroom for sale

£1,600,000

7

Bedrooms

6

Bathrooms

3

Reception

Overview - Nestled in the charming area of Douglas, this property presents a unique opportunity for those seeking a new home or investment. While the specific type of property is not detailed, the location itself is a significant draw. Douglas is known for its picturesque surroundings and vibrant community, making it an ideal place to settle down.

The area boasts a range of local amenities, including shops, schools, and parks, all within easy reach. Residents can enjoy the tranquillity of suburban life while still being close to the hustle and bustle of nearby urban centres. The community spirit in Douglas is strong, with various events and activities that foster a welcoming atmosphere.

Although the property size is not specified, potential buyers or renters will appreciate the flexibility that this offers. Whether you are looking for a quaint starter home, a spacious family residence, or a smart investment opportunity, Douglas has something to cater to your needs.

In summary, this property in Douglas is a blank canvas waiting for your personal touch. With its desirable location and the potential for various living arrangements, it is an opportunity not to be missed. Embrace the chance to make this property your own in a community that truly feels like home.

Additional - SERVICES Mains water, electricity and drainage are installed. Oil fired central heating.
SCHOOL CATCHMENT AREA: Primary: Kewaigue School. Secondary: Ballakermeen High School.

Directions - From the South, travel towards Douglas past the airport turning right at the Whitestone, Ballasalla, onto the Douglas Road towards Santon. Pass the road turning to Mount Murray and just before bend to Richmond Hill turn right and then onto the left hand track to the front of the house.


New Home: Non New Home

Nearest Stations:

3191.09 miles
Kyle Of Lochalsh
3191.11 miles
Duirinish
3191.75 miles
Plockton
3192.32 miles
Mallaig
3192.71 miles
Duncraig

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

£ 1345950

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
    £ 40000
  • 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

£ 145950
  • 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

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