2 bedroom terraced for sale

£90,000 Guide Price

2

Bedrooms

1

Bathrooms

Floorplan

Offered to market with no chain is this Two Bedroomed Mid Terraced house which would benefit from a scheme of modernisation and is ideally situated close to the centre of town with all local amenities.
The property offers spacious accommodation throughout which comprises; Lounge, open plan to Dining room, Kitchen, rear Lobby and Ground Floor Bathroom, First Floor accommodation comprises: Two good sized double Bedrooms with stairs upto the Second Floor into the roof space which could be utilised as a third Bedroom.
The property benefits from UPVC double glazing. Council Tax Band: A. The property is Freehold with vacant possession upon completion.

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The buyer will pay 300.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.80% of the purchase price including VAT, subject to a minimum of 6,000.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than 450.00. These services are optional.

Accommodation

The property is entered via a timber entrance door to the side elevation from the ground floor passageway and gives access into the:

Lounge (3.86m (12 8") x 3.62m (11 11"))

An open plan lounge diner having a UPVC window to the front elevation, two chimney breasts, one with floor to ceiling cupboards to the alcove.

Dining Area (3.86m (12 8") x 3.32m (10 11"))

Open plan from the Lounge area with stairs off to the first floor accommodation. A timber door gives access to the:

Kitchen (3.32m (10 11") x 1.86m (6 1"))

Having a UPVC double glazed window to the side elevation overlooking the courtyard.
Comprising of a range of base and wall units, stainless steel sink and drainer, space for cooker, space for fridge freezer and space and plumbing for washing machine.

Rear Lobby (1.76m (5 9") x 0.82m (2 8"))

Having a half glazed UPVC courtesy door which gives access to the rear courtyard and an airing cupboard which houses the hot water cylinder and immersion heater.

Ground Floor Bathroom (1.76m (5 9") x 1.56m (5 1"))

Having a UPVC double glazed window to the rear elevation and comprising of a panelled bath, pedestal hand wash basin and close coupled WC.

Bedroom One (3.85m (12 8") x 3.63m (11 11"))

Having a UPVC double glazed window to the front elevation.

Bedroom Two

Having a UPVC double glazed window to the rear elevation.
There is a flying freehold above the rear of the passage way which gives access to a further staircase and the second floor.

Second Floor

A large spacious room which could be utilised as a third bedroom or other space as required subject to relevant planning permission. This room has a built in wardrobe and windows to the roof space.

Outside

The property has on road parking and to the rear of the passage way there is a timber gate which gives access to the south and west facing courtyard which is enclosed with timber fencing and a brick built wall.

Situation

The market town of Sleaford is located with good road and rail connections to Lincoln Grantham and Peterborough. Local amenities include medical centres, schools, indoor swimming pool, railway station and comprehensive retail outlets. It is convenient for the local RAF bases of Cranwell, Waddington, Digby and Coningsby.

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

£ 72450

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
    £ 2250
  • 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

£ 4950
  • 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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