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£45,000 Offers over
Bedrooms
Bathrooms
**UNEXPECTEDLY BACK ON THE MARKET**
This ground floor apartment is a development opportunity with great potential. It will require a degree of internal modernisation work and this has been reflected in price. Externally there has been a new roof and there is a large garden. Two spacious Bedrooms, Lounge, Kitchen and Shower Room.
Located close to public transport and equidistant to the Towns of Motherwell and Wishawthis house would suit a developer, DIY enthusiast, Buy to Let Investor or someone looking for accommodation all on the ground level.
The gas central heating has been upgraded and there is a fairly new MIRA shower, the kitchen and bathroom need upgrading and the property does require internal decorative work. Please ensure that you are familiar with the Home Report before you arrange any viewings.
All viewings are by appointment through the agent Archie Love of the Scottish Property Centre, MotherwellOffice a copy of the Home Report is available to down load on the "One Survey" website at:
www.onesurvey.org
EPCRating - D
Hall 5.8 x 1.0 m (190 x 33 ft)
.
Lounge 4.6 x 3.0 m (151 x 910 ft)
.
Bedroom 1 3.0 x 2.8 m (910 x 92 ft)
.
Bedroom 2 3.2 x 2.8 m (106 x 92 ft)
.
Kitchen 2.8 x 2.2 m (92 x 73 ft)
.
Shower Room 2.0 x 1.5 m (67 x 411 ft)
.
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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