Recent Property Deal

We sourced this new build property directly from the developer at a discounted price for our client.

Gainsborough Bathroom (500 x 500 px)

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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