Garston, Liverpool L19 - 4 bed mid terrace

White & Co Property Solutions Ltd

Date Year
28/11 2008

Garston, Liverpool L19 - 4 bed mid terrace - 27% BMV

4 bed 2 reception Victorian mid terrace

Needs cleaned but otherwise requires very little before letting.

Apart from the discount and letting it out 'as is' - the main attraction of this proeprty is the future conversion potential.

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 Ł575 - Ł625 to a family. If let to a benefit claimant, you could get Ł725pcm as this is the 4-bed Local Housing Allowance (LHA).

(check HERE for details on LHA rates)

ref 129

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Purchase cost funding - for a completely NMD purchasing method - you can borrow the entire pre-completion costs of the deal (brokers, reservation fee, survey and searches) - see next section. This service is only offered to experienced investors, or those who have bought property through us before, at our discretion.
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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 155,000 Your Price: Ł 113,150 (including FF) Below Market Value By: 27% Rentals: Ł575 - Ł725 - see introduction Mortgage Examples Please note that Buy To Let mortgages are mostly 75% Loan to value. NB - this is difficult to stack at 75% due to the rentals. The best option would be a lower LTV (requiring cash input) or buying on a 'let to buy' mortgage. 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 - in Garston, Liverpool L19, off Horrock Avenue The property is a substantial 3 storey 4 bed, 2 reception Victorian mid terrace. It looks quite scruffy in the photos but if you look carefully it is mainly due to the clutter everywhere and it needs a good clean. It has actually been redecorated fairly recently and the kitchen and bathroom are in good order. The boiler is under 2 years old, and it has full double glazing. If let out you could achieve anywhere from Ł575 - Ł625 to a working family. The rental assessment will be in this reason, which makes the property difficult to stack up for mortgage purposes. The local 4-bed local housing allowance (LHA) rate for this part of Liverpool is actually Ł725 pcm - so you could opt for a large family on benefits (normally high demand as they find it hard to get larger accommodation). The property has conversion potential. The property used to have a shop on the ground level before they were converted back to family homes. Several on the same block have been converted into two or more apartments, so a precedent has been set. A local builder is currently converting another into two apartments. Longterm this would be a good way to maximise your return. WHY BELOW MARKET VALUE? The vendors want to move due to job relocation. Please state interest by email.

Finally

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