White & Co Property Solutions Ltd
Date     Year
30/11    2007
 		Birkenhead CH44 - 2x maisonettes, Victorian terrace conversion
- ref 045 and 046

Vendor in serious financial difficulties.  19% BMV
Photo - Arlo 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
The Numbers
by Article Author Property Investment Image





Basic Figures
Market Value:                                          £ 127,000
Purchase Price:                                       £ 102,500
Below Market Value By:                           19%
Rentals *:                                                    £ 625 pcm (minimum estimate)
Finder's Fee:                                              £ 1,500
Cashback ** at 90% / 85% LTV         £  11,800 / £ 5,450
Equity ***                                                  £ 19,050

Upfront Costs                          
Deal Fee:                                                      £ 100
Survey:                                                         £ 350

After Successful Valuation
FULL Finders Fee:                               £ 1,500
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.



The Details

Terraced House ImageAREA / PROPERTY DESCRIPTION

This is a conversion of a large Victorian mid-terrace into two sizeable maisonettes.  Both are currently tenanted, 2 months into 6-month AST agreements, and there has been no rent problems or other tenancy issues.

Both apartments are accessed through a main front door. 

The ground floor maisonette  has a large lounge leading through into a kitchen-diner.  This leads to a small corridor with four choice.  Straight ahead to a large bedroom with ensuite shower/toilet; right up a small flight of stairs to another large bedroom; second right to a bathroom with three-piece suite; and left through a double-glaxed door into a small side courtyard which itself leads into a large back yard (with seperate street access).  The yard is let with the ground floor tenancy.

The first floor maisonette is again two bed, with similar size and spec to the ground floor flat, except it does not have an ensuite shower room or yard access.

Both properties have been newly renovated to a good standard, new kitchen and bathrooms, and have obtained all the necessary consents.

The property is in Birkenhead, on Falkland Rd near Seacombe Promenade and the Mersey Ferry terminal.  There are also nearby routes to Mersey Tunnel and train links to Liverpool, which is on the opposing shore of the Mersey.  Click here and here for map views.

There is vast change planned for this area - its going to be one of the biggest regeneration projects in years with literally billions of pounds planned to be spent transforming the Birkenhead skyline. 

For more info on Birkenhead, click the following links: regeneration plans, Birkenhead docks developments, (this latter link is best for a quick overview) Wirral waterfront redevelopment site, Birkenhead wikipedia info. 


WHY BELOW MARKET VALUE?

The vendor has got into financial difficulties.  He is also going through a divorce I believe which may explain the need to liquidize his assets!

If interested please note your interest.


WHAT OTHER INFO IS AVAILABLE?
  1. Photos, full - can be sent by email
  2. Deal Stacker with financial projections



Finally


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
 
Contact Information
Mobile:  07792 843389 		Join our mailing list!