Recent Property Deal
We sourced this new build property directly from the developer at a discounted price for our client.
Project Summary
We took advantage of our close relationship with a local developer to source this 2 bed semi-detached property for a client.
Our client was able to move quickly with the purchase by buying in cash, which in turn allowed us to negotiate a 10% discount on the asking price.
Our sister company Saltbox Living placed the property on the rental market shortly after the purchase was complete and was oversubscribed with interest, achieving a higher rental income than initially forecasted.
Financials
Cash Invested
£33,245
Purchase price (cash): £130,000
Stamp duty: £4,000
Legal fees: £1,000
Additional costs/fees: £6,995
Total: £141,995
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Mortgage valuation: £145,000
Mortgage @ 75% LTV: £108,750
Cash left in the deal: £33,245
Annual Net Income
£3,787
Total Monthly Rent: £675
Monthly management fee: £68
Monthly insurance: £20.00
Mortgage Interest Rate 3%
Monthly mortgage: £272
Monthly net income: £315
Annual Return on Investment
12%
Gross yield: 6%
Net yield: 5%
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