Ready Made Deal

2 Bed Apartment in Prestwich, Manchester M25 9 GONE

You can own this property in Manchester for a grand total of under 2.5k. Deal will be assigned to one successful investor.

  • 2 Bed Apartment in Prestwich, Manchester M25 9
  • Net cost to own this asset: £2117 (approx)
  • Purchase price has been agreed, contract signed and RICS survey completed.
  • Only £1400 required to progress this deal 

Deal will be offered on First Come First Served basis. To register your interest, please fill in your details at the bottom of this page.

Deal at a Glance  
Property Type

2 Bed Apartment

Market Value £110,000
Purchase Price £90,200
Discount 18.0%
Instant Equity £19,800
Investment Type

Investment

Net Cash Back -£2,177


Property:
2 Bed apartment. Lounge overlooks a park. Vendor has agreed to sell the property at 82% of its RICS valuation. Apartment is leasehold (865 Years remaining). Vacant possession as vendor is emigrating and wants to sell hassle free.

Work Summary: Apartment needs some updating a nd requires a new bathroom and fresh coat of paint. This could cost in the region of £2500. RICS valuation reflects its current state. Any updating should add value to the apartment.

  • Our RICS valuation will be retyped into investor's name. So there is no need for a new valuation.
  • You can use this deal as a Buy to Let (BTL) or Buy to Sell (BTS) investment depending on your investment strategy.
Initial Funds Required to Proceed  
Deal Reservation Fee (a) £1,000
Valuation Fee (b) £0
Legal Fees (c) £400
Initial Requirements (a+b+c) £1,400


 

Financial Details of the Deal:

Overall Cost of the Deal  
Stamp Duty £0
Mortgage Broker Fee £0
Buyer Solicitors £500
Legal Disbursements £400
Vendor Solicitors £500
Bridging Fee (optional) £677
Bridging Arrangement Fee £0
Deal Fee £3,400
Total Costs £5,477
Cash Back Calculations  
Market Value (a) £110,000
Mortgage Funds (b) £93,500
Purchase Price (c) £90,200
Cash Back at Purchase (d=b-c) £3,300
Minus Purchasing Costs (e) £5,477
Net Cash Back (d-e) -£2,177
Rent per month (RICS valuation) £500
Cash Flow per month (approx)* £60


*For illustration purposes only. It could vary depending on the mortgage product you choose. 

Your Net Cost to Buy This Property: £2117 (approx)
(This is a complete package, which includes the mortgage, valuation, solicitors and bridging finance)

 

If you are intersted in this deal then fill in your details in the form below and we will contact you shortly. Deal assigned on the first come first served basis.

 

 

Terms and Conditions:

  • If official valuation provided by the surveyor is lower than that stated above then we will refund your valuation fee and reservation fee in full. However due to time constraints and sellers’ wish to complete with minimal delay, we are able to refund these fees only if you decide to withdraw from the purchase within 24 hours of receiving the valuation figure.
  • Except in the case of receiving a lower valuation as stated above, we are unable to refund reservation and other fees paid upfront.
  • Our Deal Fees are payable in full on completion.
  • To cause least disruption to the seller, you may view the property but only after the valuation has been booked.
  • In respect of the costs you will incur that are not determined and administered by us, we have endeavoured to be as accurate as possible.  However these are subject to change at any time and may incur VAT where applicable.
  • We do not accept responsibility for any expenses or losses incurred by you.
  • The Market Value quoted is provided in good faith and will be confirmed by the lender's valuer.
  • No information presented in these particulars constitutes or forms part of a contract, with the exception of the stated terms and conditions.
  • BMV Club is not a licensed investment advisor or a licensed estate agent.
  • BMV Club is not authorised by the Financial Services Authority to provide investment or financial advice.
  • In paying the reservation fee you agree to these terms by default.

 

To register your interest in this deal, please fill in your details below:

Your Contact Details:
Title
Full Name
Email Address
Phone: Home

Phone: Work

Mobile Phone


Interested In

   

Notes: It will be useful to know a bit about you, e.g. length of experience with property investments, BMV deals, NMD properties (if any) etc. Information is to help us assign this deal to you.


 

Submit

Click the button below to submit details. We will contact investors on First Come First Served basis. It is our policy to treat your details in complete confidence.

 

 

 



 

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    Disclaimer:
    BMV Club, their directors, affiliates, officers, employees, agents, contractors, successors and assigns (herein "BMV Club") do not accept any liability for any investment decisions made on the basis of, arising out of, or in any way related to, the use of this information. The information and services provided by BMV Club do not constitute financial, investment or tax advice and should not be taken as such. BMV Club recommends you to obtain professional advice before proceeding with any investment. Whilst we take reasonable care to ensure that the information we provide is accurate and up to date, we cannot warrant that it is. Some products and services may be available at a lower or higher cost than quoted in this communication. If you would like a detailed mortgage illustration, please ask for a referral to one of our independent mortgage brokers. BMV Club promotes products and services specifically designed for use in the United Kingdom only.