2 bedroom terraced for sale

£180,000

2

Bedrooms

1

Bathrooms

Floorplan

Situated in a cul-de-sac location is this well proportioned two bedroom terraced house with kitchen diner and first floor shower room. NO UPWARD CHAIN.

Accommodation comprising enclosed porch, entrance hall, lounge, understairs store, kitchen diner, landing, two bedrooms, first floor shower room, gas boiler serving radiators, double glazing to windows as detailed. Rear garden, side covered entry.

ENCLOSED PORCH (front)
Double glazed front door and double glazed windows, panel radiator, door opening onto;

ENTRANCE HALL (inner)
Staircase with handrail leading off to first floor landing. Multi panel single glazed door opening onto;

LOUNGE (front) 3.63m (3.02m) x 4.24m plus bay
Double glazed bay window, panel radiator, coving to ceiling, gas fire with fire surround, archway onto;

KITCHEN DINER (rear) 4.64m x 2.83m
Panel radiator, single glazed window to side, double glazed window and double glazed double doors onto rear garden, floor part wood effect and part tiled, base units with cupboards and drawers, worktops, cooker, four ring gas hob, cooker hood above, wall mounted store cupboards at high level, wall mounted valiant gas boiler, bowl and a half single drainer stainless steel sink, plumbing for washing machine.

Staircase from ground floor reception hall leading to;

FIRST FLOOR LANDING (inner)
Access to roof space, doors off;

BEDROOM ONE (front) 4.25m plus wardrobe (3.89m) x 3.28m
Double glazed window, fitted wardrobe, panel radiator.

BEDROOM TWO (rear) 2.89m (2.52m) x 3.90m
Double glazed window, panel radiator,

FIRST FLOOR SHOWER ROOM (rear) 2.27m x 2.92m
Obscure double glazed window, panel radiator, shower cubicle with electric shower, walls to shower cubicle tiled to full height, WC, pedestal wash hand basin with hot and cold tap, tile effect floor finish.

REAR GARDEN
The property benefits from a good sized rear garden, paved patio, pathway to top of garden, gate giving access to rear, shaped lawn.

COVERED SIDE ENTRY (from rear garden to front)

COUNCIL TAX BAND B

TENURE
We are verbally advised the property is freehold. The Agent has not checked the legal documents to verify the freehold status of the property. The buyer is advised to obtain verification from their Solicitor or Surveyor.

SERVICES
The Agents have not tested any apparatus, equipment, fixtures, fittings or services and so cannot verify they are in working order or fit for their purpose. The buyer is advised to obtain verification from their Solicitor or Surveyor.

FIXTURES AND FITTINGS
All items unless specifically referred to in these sales particulars are expressly excluded from the proposed sale. However, fitted carpets, curtains and certain other items may be taken at a valuation to be agreed.

Money Laundering Regulations

In order to comply with Money Laundering Regulations, all prospective purchasers are required to provide the following - 1. Satisfactory photographic identification. 2. Proof of address/residency. 3. Verification of the source of purchase funds including bank statements for deposits in order to purchase and copy of mortgage agreement in principle from the appropriate lender. In the absence of being able to provide appropriate physical copies of the above, Scriven & Co reserves the right to obtain electronic verification of identity.

Extra services -
By law, the agent must tell the client if the agent or any connected person intends to earn any commission or any other fees from offering or referring other services to the client or buyer. If the agent or any connected person earns money from any of these services or referrals the agent or the connected person would keep this commission or fee. Part of the payment for these extra services will be paid to the agent as a result of the referral.

Scriven & Co offers the following services and has the following referral arrangements in place:

Scriven & Co routinely refers sellers (and buyers) to Infinity Financial Advice. It is the clients or buyers decision whether to choose to deal with Infinity Financial Advice. Should the client or a buyer decide to use Infinity Financial Advice the client or buyer should know that Scriven & Co receive a payment from Infinity Financial Advice equating on average to a figure in the order of 200 per referral.
Scriven & Co routinely refers sellers (and buyers) to certain firms of solicitors/conveyancers. It is the clients or buyers decision whether to choose to deal with any of the referral companies. Should the client or a buyer decide to use any of these companies the client or buyer should know that Scriven & Co receive a payment from these companies equating to a figure in the order of 100-200 per referral. We are informed that the solicitors/conveyancers are happy to pay this referral fee to ourselves as it significantly reduces the marketing costs that they have to allocate to sourcing new business. The referral fee is NOT added to the conveyancing charges that would ordinarily be quoted.

The agent routinely refers sellers (and buyers) to Warrens removals and storage. It is the clients or buyers decision whether to choose to deal with Warrens removals and storage. Should the client or a buyer decide to use Warrens removals and storage the client or a buyer should know that the agent receives a referral fee to the value of 50 from them for recommending a client or buyer to them.

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Mortgage Calculator

Your property may be repossessed if you do not keep up repayments on your mortgage.

Monthly Payment: £778.44

Total Interest: £100,238.53

Overall Total: £280,238.53

Amortization For Monthly Payment: £778.44 over 30 years ( Based on 3.20% Interest )

YearInterest Principal Balance 
2025£5,707.00 £3,634.28 £176,365.72 
2026£5,588.99 £3,752.30 £172,613.42 
2027£5,467.14 £3,874.15 £168,739.28 
2028£5,341.33 £3,999.95 £164,739.32 
2029£5,211.44 £4,129.85 £160,609.47 
2030£5,077.33 £4,263.96 £156,345.51 
2031£4,938.86 £4,402.42 £151,943.09 
2032£4,795.90 £4,545.39 £147,397.70 
2033£4,648.29 £4,692.99 £142,704.71 
2034£4,495.90 £4,845.39 £137,859.32 
2035£4,338.55 £5,002.74 £132,856.59 
2036£4,176.09 £5,165.19 £127,691.39 
2037£4,008.36 £5,332.92 £122,358.47 
2038£3,835.18 £5,506.10 £116,852.37 
2039£3,656.38 £5,684.91 £111,167.46 
2040£3,471.77 £5,869.52 £105,297.95 
2041£3,281.17 £6,060.12 £99,237.83 
2042£3,084.37 £6,256.91 £92,980.91 
2043£2,881.19 £6,460.10 £86,520.82 
2044£2,671.41 £6,669.88 £79,850.94 
2045£2,454.81 £6,886.47 £72,964.47 
2046£2,231.18 £7,110.10 £65,854.37 
2047£2,000.29 £7,340.99 £58,513.37 
2048£1,761.91 £7,579.38 £50,933.100 
2049£1,515.78 £7,825.51 £43,108.49 
2050£1,261.65 £8,079.63 £35,028.86 
2051£999.28 £8,342.00 £26,686.85 
2052£728.39 £8,612.90 £18,073.95 
2053£448.69 £8,892.59 £9,181.36 
2054£159.92 £9,181.36 £0.00 

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

£ 142,200

Mortgage Loan to Value

79%

Gross Yield

12%

Annual ROI

35%

Annual Rental Profit

£ 9,450

Cumulative Rental Profit

£ 94,498

Cost of Purchase

£ 7,200
  • Stamp Duty
    £ 0

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

  • Refurbishment Budget
    £ 4,500
  • 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

£ 12,150
  • Mortgage Interest
    £ 6,399

    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)
    £ 2,851
  • Letting Fee
    £ 240
  • Maintenance
    £ 2,160
  • 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

£ 200,499
  • Final Equity Profit
    £ 106,001

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

  • Cumulative Rental Profit
    £ 94,498

    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

£ 293,201

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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