2 Bed End Terrace House – 25% BMV
Prices From £70,000
Global Property Investors are pleased to introduce this two bed end terrace house located in Barrow Upon Furness, Cumbria.
The property is in good condition overall with gas central heating (GCH) throughout, UPVC double glazing and modern kitchen. New carpets would be required prior to letting in bedroom areas.
The property is available at 25% below market value (BMV), this will secure the buyer instant equity of £17,500 on completion.
Available with vacant possession, with an estimated rental income of £500 pcm, this results in a gross yield of 11.4%.
Based on an 80% LTV 2 Year fixed rate with The Mortgage Works at 4.14% (subject to status), monthly payments are £144 pcm which provides positive monthly cashflow of £356 pcm. This would require a 20% deposit of £10,500.
Alternatively you can purchase at 75% LTV with The Mortgage Works at 2.99% (subject to status), monthly payments are £98 pcm which provides positive monthly cashflow of £402 pcm. This would require a 25% deposit of £13,125.