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Date Year
29/11 2007
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The Collegiate Buildings, Liverpool - 2 bed penthouse apartment - 20% BMV - ref 044
This is the second property of two, but a higher % BMV.
Vendor is emigrating and needs to cash in. 20% BMV
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Greetings!
Welcome to the new-look, simplified Done Deals Alert.
NEW
You can view previous Done Deal Alerts anytime by clicking onto our Archive Homepage. Please visit this site if you have recently joined our subscriber list.
Please see the last section for links to further information about this deal, and general terms and conditions.
If you wish to register your interest, or request further information, please email back. This does not commit you to proceed with the purchase.
Kind Regards
Arlo
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The Numbers
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by Article Author
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Basic Figures
Market
Value:
£ 165,000
Purchase Price:
£ 132,000
Below Market Value
By:
20%
Rentals
*:
£ 675 pcm (minimum estimate)
Finder's Fee:
£ 2000
Cashback ** at 90% /
85% LTV £ / £ 8250
Equity
***
£ 24,750
Upfront Costs
Deal Fee:
£ 100
Survey:
£ 350
After Successful Valuation
1/2 the Finders
Fee:
£ 1,000
Search Fees
(solicitor)
£ 300
There may be other
fees depending upon finance arrangements
Upon Completion
Broker (typically 1%)
Bridging Finance (if applicable, varies)
Any remaining Finders Fee (see above, varies)
Purchase Solicitor (typically £900 - £1,100 inc VAT + disbursements)
Vendor's Solicitor (normally a flat £500)
Notes
All mortgages are subject to survey and the purchasers own financial standing. Figures given are for illustrative purposes only.
* This is usually given as a conservative minimum, or if the property is already tenanted, what is currently being paid by the tenant.
** Cashback is a raw figure, not taking into account all the various deductions that are taken out upon completion - such as mortgage setup fees, broker/bridging/solicitors/finders fees, stamp duty where applicable, etc. If the number is given in blue, this mean the deal requires CASH IN at this LTV figure (plus associated costs as mentioned). Cashback is possible due to the unique methods of purchase we will teach you (we can get you a mortgage based on the open market value, and not the purchase price)
*** Please read above note. The figure assumes a standard 85% LTV mortgage and does not account for fees and charges added to the loan amount, which reduces the equity proportionately.
FINALLY - please remember we can provide you with a 'deal stacker' template (MS Excel - if you do not have Microsoft Office please contact me for an alternative). This spreadsheet will give you a much more comprehensive financial analysis, which also allows you to play with the variables involved, and allows you to compare and contrast different mortgage products.
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The Details
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 AREA DESCRIPTION
Spacious penthouse luxury appt, 2 bed, fully furnished. Also comes with
secure parking space. The Collegiate is a 160 yr old grade II listed building.
It was designed by Harvey Lonsdale Elmes, who also designed St.Georges Hall. It has one numerous awards since built, and has featured in many design magazines. It has also been nominated as an 'Icon of England'. All the characteristics of
the building have been kept, to give this building the wow factor.
Although you may not be interested in newbuild, this really is an exclusive conversion of a famous landmark. For pics click here, here and here.
Additionally, there is a open plan living area. Down stairs there are two
bedrooms and also bathroom. Communal gardens. The appt has stunning views across
the liverpool skyline. 10 minutes walk from the city center, access to the
major motorway network.
The property was refurbished to a very high standard 5 yrs ago by Urban Splash.
The collegiate is viewed as their flagship development in the North West. It
is simply unique.
The property is situated on a main road next to Islington, which is the main
road into the town center. There has been major development and regeneration,
making this area a much sought after location.
It is within a few minutes of a few local shops. Also medical center
including dentist. There are nearby bus routes. Royal liverpool
University Hospital (4 mins), Liverpool City center (5 mins). m62 (15mins).
This property is ready for rent. Fully furnished, fitted kitchens to a high standard. Secure
parking facilities included. Apartment on Right move suggest you should be
able to achieve between £650 - £750 pcm.
There is also a maintenance charge of £1700. per annum.
Please note: the properties have not had valuations. This appt should value £165,000 -£170,000 (we have assumed the latter in calculating figures).
WHY BELOW MARKET
VALUE?
The vendor is moving abroad and needs to sell this apartment fast. If he was to
market them on the open market he would definitely achieve around full asking
price if he were to wait long enough. However he does not have the time to do this in a sluggish market, and does not want the hassle of chasing this up from abroad - or have the possibility of a buyer pulling out or changing the goalposts on him.
If interested please note your interest.
WHAT OTHER INFO IS AVAILABLE?
- Photos, full - can be sent by email
- Room dimensions / descriptions
- Deal Stacker with financial projections
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Finally
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Past and Current Deal Archive:
Archive
Disclaimer:No part of
this email constitutes or forms part of a contract. White & Co is not
a licensed estate agency or licensed investment advisor. White & Co
is not authorised by the Financial Sevices Authority to give investment or
financial advice.
Terms & Conditions:
By replying to this email, or emailing back with the deal / lead reference number, you acknowledge and agree to the terms and conditions should you be chosen to purchase this lead and you then agree to proceed. Please note 'stating an interest' or requesting further information does not commit you to anything.
Terms and Conditions Page
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