DESCRIPTION
Located in the village of Patrington Haven is this three bedroomed cottage that requires a mainly cosmetic refurbishment programme but offers an opportunity to investors and private buyers looking for a second home near the coast. The property could produce an excellent return after refurbishment.
LOCATION
The property is situated in the hamlet of Patrington Haven, just south of the village of Patrington. Local amenities include a primary school, public house and Patrington Haven caraven park.
ACCOMMODATION
GROUND FLOOR
Lounge: Radiator.
Kitchen: Range of base, wall and drawer units. Built-in oven and hob.
Bathroom: The white suite includes a bath, pedestal wash-hand basin and low flush WC.
FIRST FLOOR
Bedroom One: Radiator.
Bedroom Two: Radiator.
Bedroom Three: Radiator.
OUTSIDE
Rear garden laid mainly to lawn and fencing to the boundaries.
Heating and Insulation: The property has gas fired radiator central heating and double glazing.
Services: All mains services are connected to the property. None of the services or installations have been tested.
Council Tax: Council Tax is payable to the East Riding of Yorkshire Council. The property is shown in the Council Tax Property Bandings List in Valuation Band 'A' (verbal enquiry only).
Tenure: Freehold. Vacant possession upon completion.
Viewing: By prior appointment with the auctioneers. Telephone: 01377 241919.
Solicitor: Pepperells Solicitors, Mr Chris Cook, 100 Alfred Gelder Street, Hull, East Yorkshire, HU1 2AE, 01482 326 511
Legal Pack: A legal pack has been requested from the vendors solicitor and will be made available online as soon as it is received. You can register to receive an email notification when the pack is available by going to auctionhouse.co.uk/hullandeastyorkshire and clicking on the property you are interested in. On the property detail page you will see a red 'LEGAL PACK' button which you should click on and it will take you to the registration page.
Method of Sale: The property will be offered for sale by online auction with bidding starting at 12 noon on Monday 15th November and closing on Wednesday 17th November 2021 at 3.00pm. For further legal information relating to this lot please log on to auctionhouse.co.uk/hullandeastyorkshire
Conditions of Sale:The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneer's offices, with the solicitors and on-line at auctionhouse.co.uk/hullandeastyorkshire prior to the date of the auction.
Guide Price:*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees:
Additional Fees (Including VAT):
Administration Charge: £750
Buyer's premium £480
Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Online Bidding:
If you are wanting to bid on this property, copy and paste the link below into your URL bar or into a Google search and it will take you to a video that explains the process:
youtube.com/watch?v=ImXr4HXR36c
Tenure : Freehold
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
| Tax Band | % | Taxable Sum | Tax |
| less than £250k | 0 | ||
| £250k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
| Tax Band | % | Taxable Sum | Tax |
| less than £250k | 3 | ||
| £250k to £925k | 8 | ||
| £925k to £1.5m | 13 | ||
| rest over £1.5m | 15 |
| Tax Band | % | Taxable Sum | Tax |
| less than £425k | 0(5)** | ||
| £425k to £625k | 5 | ||
| £625k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
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