68 methuen street

7/31/2019 68 Methuen Street

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PROPERTY INVESTMENT

PROPOSAL

2 BED MID-TERRACEWAVERTREE, LIVERPOOL, L15

Double Glazing

Good yield and strong tenant

demand

End value c.£85,000

Available at 23% discount

Vendor gone into Retirement Home

PHOTOGRAPHS

Front View

Photo album online: http://tinyurl.com/L151-

OWE-photos

THE DETAILS

Two bed terraced house in Wavertree, Liverpool,

L15. The property is in a very popular area with

high rental demand from professionals, families,

students and LHA tenants. The property needs

some minor refurbishment to realize its full market

value.

Property Description

The following have already been done:

• Rewired (8 years ago)

• Full UPVC Double Glazing (5 yrs ago)

• New Damp Proof Course (7 years ago)

• New roof (10 years ago)

The following works are required:Install central heatingUpgrade kitchenUpgrade bathroomRedecoration

Area Description

The property is situated in a very popular area,

close to local shops and amenities on Picton Road

and Smithdown Road , which also has excellent

transport links with good connections to Speke in

the South and the City Centre in the North.

The road has consists of mainly privately ownedand private rented accommodation houses and is

popular with working couples and families,

students and LHA tenants.

Map – click http://tinyurl.com/L151OWE-map

Lettings Information

The property would rent to a family for between

£475-495pcm. The LHA (local housing allowance)

rate is £500pcm

THE FIGURES

Basic Figures

Purchase:

£90,000 End Market Value

£64,000 Investor Price

£3,500 Essential Works

Rental:

http://tinyurl.com/L151-OWE-photos


http://tinyurl.com/L151OWE-map



http://tinyurl.com/L151OWE-map



PROPERTY INVESTMENT PROPOSAL

£500 Single let

Profile Student, working, DSS

Demand High

Mortgage Example:

Product

Product: 2 yr fixed1

Rate: 4.80%

Mortgage: £48,000

Monthly Payments: £192 pcm approx

Deposit: £16,000

3rd Party Costs:

Mortgage Broker: £395 (approx.)

Mortgage Valuation: £350 (approx.)

Package Fee:

Buyer’s legal fees: £900

Vendor’s legal fees: £500

Finders Fee: £995

Total £2.395 *

Total Investment:

(Deposit + Package Fee) £23, 020

Investment Key Facts:

Gross Yield 8% single let

Cashflow2 + £308 pcm (single let)

Day One Equity: £26,000 (25% BMV)

Refurbishment Info

The following works are required:Install central heatingUpgrade kitchenUpgrade bathroomRedecoration

Due Diligence

1 Mortgage example for illustration purposes only*Payable within 7 days of successful valuation2 Excluding voids and repairs.

The investor who reserves the property will be

given the following Due Diligence Pack:

• Full Hometrack report on all comparable

nearby properties, showing both sale and

remortgage valuations.

• Private RICS valuation report

• Other information we have gathered from

local sources

Viewings

Viewings can be difficult for various reasons.

Please see the FAQ page on our website. Upon

successful mortgage

How To Buy This Property

If you are interested in proceeding with this

property deal, the next steps are:




1. You must a registered property investor. To

register please complete an Investor Profile

form and a Non-Disclosure Agreement,

available upon request.

2. If you wish to receive the full Due Diligence

Pack (see DD section) and the full propertyaddress, please pay the refundable

Reservation Fee.

3. Cooling off period: You will have a further

24 hours to undertake your own DD. You

can withdraw from buying the property if

you request to do so within this 24 hour

period, and your Reservation Fee will be

returned without question by same day

transfer.

4. Beyond this period, you will receive a fullrefund if the property downvalues or the

vendor withdraws. Your Reservation Fee is

refunded upon completion.

5. For a full list of Terms & Conditions, please

see our website www.invest-bmv.com. If

you wish to proceed with this property deal,

you agree to our T&Cs as laid out on our

website.

Purchase Process Overview

There are several steps prior to completion, below

is a basic overview. For more details, please check

our website.

1. Within 48 hours of accepting a property,

you apply for a mortgage. We prefer you to

already have had a mortgage ‘decision in

principle’ (DIP) – call us to discuss if you

want to arrange this in advance.

2. Within 7 days you should have submitted

the full mortgage application.Simultaneously, you will need to register

with a solicitor, including all initial

documentation and ID, and pay a retainer

for legal searches. They hold onto this

money pending a successful mortgage

valuation result.

3. Once the mortgage valuation comes back

successfully, you instruct your solicitors to

begin the conveyancing and get legal

searches underway.

4. During the conveyancing process, please

liase closely and quickly with the solicitorsto ensure a quick timeframe – remember,

you are only getting a good deal due to

someone elses difficult circumstances.

5. Upon successful mortgage offer, we

normally complete within a few weeks. You

will need to send over the mortgage deposit

and legal fees to the solicitors.

6. Once the mortgage offer is made, we can

begin arranging quotes for works and

advertising the property to let, should youwish our assistance. We can often get

tenants in place before completion.

7. Upon completion, we arrange for keys to go

to the nominated letting agent and you will

liase with them regarding lettings and

works.

Legal Notice

Property Misdescriptions Act 1991 "It should not be

assumed that the property has all necessary planning, buildingregulation or other consents and we have not tested anyapparatus equipment, fixtures, fittings or services, and can notverify that they are in working order, fit for their purpose, orwithin ownership of the sellers, therefore the buyer must notrely on the information. Neither have we checked the legaldocumentation to verify legal status of the property. Anyinterested party must not assume the information is correctuntil it has been verified by their own solicitor. Anymeasurements supplied are for general guidance only and assuch must not be relied upon. Any interested party is advisedto re-check the measurements before committing themselvesto any expense. Nothing concerning the type of construction orthe condition of the property is to be implied from thephotograph(s) of the property. The sales particulars maychange in the course of time, and any interested party is

advised to make a final inspection of the property prior toexchange of contracts".

Misrepresentations Act 1967 "The property details havebeen prepared as a general guide only, and should not berelied upon as a basis to enter into a legal contract, or tocommit expenditure. We are not authorised to make or giveany representations or warranties in relation to the propertyeither here or elsewhere, either on our own behalf or on behalfof the vendor or otherwise. Any interested party should relysolely on their own surveyor, solicitor or other professionals’advice before committing themselves to any expenditure or

http://www.invest-bmv.com/

http://www.invest-bmv.com/




other legal commitments. If any interested party wishes to relyupon any information from us then a specific written requestshould be made and specific written confirmation can beprovided. We will not be responsible for any verbal statementmade by any member of staff as only a specific writtenconfirmation from a duly authorised member of staff should berelied upon. We will not be responsible for any loss other thanwhere specific written confirmation has been supplied by aduly authorised member of staff".

Money Laundering Regulations 2007 "We have in placeprocedures and controls which are designed to forestall andprevent Money Laundering. If we suspect that a supplier,customer/client or employee is committing a MoneyLaundering offence as defined by the Proceeds of Crime Act2002 we will, in accordance with our legal responsibilities,disclose the suspicion to the Serious Organised Crime Agency(SOCA)".

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