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Date Year
12/12 2007
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Prenton, Birkenhead CH43- 2 bed ground floor apartment, converted Victorian terrace
Ref 051
Vendor in debt. 20% BMV
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Greetings!
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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:
£ 105,000
Purchase Price:
£ 84,000
Below Market Value
By:
20%
Rentals
*:
£ 550 pcm (minimum estimate)
Finder's Fee:
£ 3,000
Cashback ** at 90% /
85% LTV £ 10,500 / £ 5,250
Equity
***
£ 15,750
Upfront Costs
Deal Fee:
£ 100
Survey:
£ 299
After Successful Valuation
FULL Finders
Fee:
£ 3,000
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 / PROPERTY DESCRIPTION
This is a conversion of a Victorian end-terrace into two apartments. The upper flat is owner-occupied three bed flat. The ground f loor is a two bed flat, but with sole access to a rear garden and larger lounge area. The rental comparables suggest 550pcm as ahcievable. The owners daughter currently lives there and wishes to rent whent he property is bought for the agreed rent as above.
The owners are also willing to go guarantor for their daughter. Their daughter works for the local authority full-time.
The property is a large end-terrace, with the side onto a sidestreet (secured-gated alleyway, used for bringing bins onto the road for collection). The property is double glazed, and newly renovated - new electrics, DPC, repointed external walls, and fitted kitchen and bathroom.
The property is in the Prenton area of Wirral, on Ravenscroft Rd. Click here for map views. The property is within easy reach of major roads and local amenities and is minutes walk from Birkenhead Park. The area is mainly owner-occupied and is a popular residential area.
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. While doing up this flat, and his owner house (which is the neighbouring house), he overran his development budget and is eager to sell and clear debts. He is close to retirement age and is hoping to clear all debts and his mortgage before retiring.
If interested please note your interest.
WHAT OTHER INFO IS AVAILABLE?
- Photos, full - can be sent by email
- 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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Contact Information
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