Norris Green, Liverpool L11 - 3 bed 2 rec end terrace

White & Co Property Solutions Ltd

Date Year
12/11 2008

Norris Green, Liverpool L11 - 26% BMV to you

3 bed 2 reception ex council end terrace

Needs a refurb before letting - around 8k.

Not valued yet
Vendor agreed to drop sale price if the valuation lower than expected
discount therefore remains the same to you

I think this property will let around Ł495 to a working family. If let to a benefit claimant, you could get Ł525pcm as this is the 3-bed Local Housing Allowance (LHA).

(check HERE for details)

ref 128

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Please see the last section of this email 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		Basic Figures Market Value: Ł 90,000 Your Price: Ł 66,600 (including FF) Below Market Value By: 26%- increased from 25% Rentals: Ł525 ish - see introduction Mortgage Examples Please note that Buy To Let mortgages are mostly 75% Loan to value. We do have a few options at 85% LTV now, but they are only likely to go through if the buyer has a steady employment with decent income (self-employed likely to fail), and does not have too many properties (under 10 for example). click here for other financing ideas 75% LTV Mortgage Ł67,500 Cashback before costs Ł900 Day one equity Ł22,500 85% LTV Mortgage Ł76,500 Cashback before costs Ł9,900 Day one equity Ł13,500 Upfront Costs Reservation Deposit (to secure the deal) Ł 500 - This is fully refunded upon successful completion of the deal. This may be waived if you have previously purchased property through us and is charged to new investors only, to ensure we do not attract 'time-wasters' who may end up causing harm to our vendors. Broker fee Ł 395 Survey Ł 300 ish Search Fees (solicitor) Ł 250 TOTAL - depending on (1) above, you could pay between Ł950 - Ł1,450 during the purchase process. You may borrow the upfront costs from us - you will be charged Ł150 for this service, and the entire amount, including this fee, will be deducted from the completion amount. This is subject to terms and conditions - please contact me to discuss. Notes - 1, 2 and 3 above are only payable after you have had 24 hours to do you own due diligence and have decided to take on the deal, and you have had a successful 'decision in principle' from our brokers. 3 is an approximate figure and may change according to lender or property price range. 4 is payable to the solicitor, unless otherwise stated above, but only after successful valuation result. What is the Finder's Fee? 'Your Purchase Price' - see above - is calculated by adding the actual Agreed Price (AP - agreed with the vendor) to the Finder's Fee (FF) payable. Both the AP and FF are private and will be revealed only to the investor chosen to proceed with this deal. The FF is payable upon completion and comes from the completion funds if you choose to use our NMD finance scheme. Costs Upon Completion NMD finance - Ł1,500 Finders Fee - if you paid a reservation fee, you will be rebated this back along with the rest of the cashback. The FF is described above, and doesn't actually affect any of the figures given in this email. Legal fees - you agree to pay both purchaser and vendor legal fees which should come to around Ł1,200 total on a typical 100k house Notes All mortgages are subject to survey and the purchasers own financial standing. Figures given are for illustrative purposes only. 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

		AREA / PROPERTY DESCRIPTION Photos - click HERE Location map - HERE Property located in one of the streets off Sedgemoor Road The area is ex council but the majority of residents have taken up the right to buy. The property is single glazed (wooden frame), and has s decent kitchen but the bathroom is a bit dated (but OK). It also has an electric shower. The property is gas central heated with a new boiler and rads put in within the last few years. The property is a bit old fashioned in terms of decoration and would probably be best to budget for a white-and-magnolia job throughout. The carpets are mostly fine but old fashioned and again I would recommend cheap ahrdwearing flooring throughout. The bathroom would best be replaced if the budget was there, but would not necessarily put anyone off once cleaned up, and is perfectly functional as it is. As an end terace it has a bit more space, including ample offroad parking and a decent back garden. The best bet would be to let to a single mum or other benefits claimant who has a 3-bed entitlement, in which case you will be able to get Ł525pcm rent. Otherwise, rents might be around Ł495pcm. WHY BELOW MARKET VALUE? This is another probate sale, probate settled and 2 sons and a daughter agreed the sale price with me. Please state interest by email.

Finally

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