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£850,000
Bedrooms
Set within the quiet village of Garlinge, this well presented four bedroom detached property with separate annex and substantial plot with planning for four two storey dwellings with parking (REF: OL/TH/18/1233). With glorious views over fields, this well-proportioned property offers a large open plan living area, measuring 2411 x 299, with a cast iron woodburning stove surrounded by a brick wall with bricks from the original build and a sleek fitted kitchen with a range of wall & base units, integrated appliances and a central island unit leading to the separate dining area which measures 77 x 136. In addition, there is a conservatory measuring 99 x 610 with direct access to the wonderful rear garden. There is also a useful utility room and ground floor fully tiled cloakroom. To the first floor there are three bedrooms, the master measuring 196 x 155, together with a modern three piece family bathroom and separate shower room. The property boasts a stylish annex offering a sitting room, measuring 910 x 112, with double glazed French doors to the rear garden leading to the kitchen/dining room with fitted units & appliances. This is turns leads to double bedroom which measures 99 x 1011 and fully tiled bathroom. All windows and doors are double glazed and a gas heating system is installed. The private rear garden is a true delight with a patio area, heated outdoor pool and path leading to the garden which is completely laid to lawn with a selection of shrubs and bushes. To the front, there is a driveway providing ample off road parking for numerous vehicles. The property boasts a large triangular plot measuring approximately 17,000Sq Ft (1,593Sq M) with views over fields and planning consent to modify the existing building and construct four new two storey dwellings with parking.
Originally believed to have been the oldest building in Garlinge, the village is in the suburbs of Margate within easy access to Westgate town centre where you will find a variety of independent shops, cafes and a cinema. The popular seaside town of Margate with its sandy beach is also close by where there is a wider selection of shops, bars, restaurants and cafes as well as the renowned Turner Contemporary art gallery. Margate also has a mainline railway station providing a regular service to London.
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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