REF_HKI1079

15 YR - REPAYMENT LEASE OPTION or

6 YR -  LEASE OPTION

DUDLEY, DY2
6 BED SEMI-DETACHED HOUSE

NO LONGER AVAILABLE

Hotkey Invest are proud to offer an opportunity to secure this detached 6 bed house on either a 15 year repayment lease option strategy or as a traditional 6 year Lease Option.

 

This spacious semi-detached property located in Dudley, West Midlands, comprises 6 self contained bedrooms all with ensuites, kitchenettes and individual electric pay meters. There is a communal kitchen downstairs & rear garden. 

The property has the potential to be a large HMO (6+ persons) subject to the appropriate licencing application and approval. 

 

The property is operated as a small HMO and previous tenants were paying £105 per week with each tenant paying their own council tax and bills.

 

The property we understand has fire doors and wired fire alarm system and is close to local amenities.

 

The property requires some modernisation.

KEY FEATURES

Freehold

Semi-Detached House

6 self contained bedrooms

On Street Parking

10 Miles to Birmingham City Centre

Close to local amenities

EPC Rating: E51 

£230,000

15 Years

£1

£1,453.76

The purchase is set over 15 years, allowing you to secure the property at £230,000 without finance for the term. This enables you to benefit from capital growth as well as surplus rental income whilst paying off some of the final balance. At the end of the term (or before), the buyer must settle any outstanding balance on the property and complete. 

The option deposit is currently set at £1 however a buyer has the option to pay a larger deposit and make over payments to reduce the balance quicker.

Basic Fundamentals:

 

  • Buyer must exchange with delayed completion and instalment contract.

  • Interest rate is set at 6.5% variable.  

  • Amortisation is calculated over 30 yrs. 

  • Monthly repayment of £1,453.76 pcm. 

  • Option to pay £1,200 pcm and the £253.76 added to the balance each month with standard interest applied monthly.

  • Security – debenture over purchasing company and personal guarantee.

  • Buyer responsible for both solicitors costs and agents fees.

  • Buyer buys as seen and carries out the work at his/her own cost with written consent.

  • The vendor is allowed to refinance the property only to change mortgage rate (no second charges, loans etc.).

  • Buyer responsible for maintenance and insurance.

15 YR REPAYMENT LEASE OPTION 

Option Price:

Term:

Option Deposit:

Option Repayments PCM:

£220,000

6 Years

£1

£1,200

The option to purchase is set over 6 years, which allows you to secure the property at today’s price without finance for the term. This enables you to benefit from capital growth as well as surplus rental income during the 6 year term. 

The option deposit is currently set at £1 

Basic Fundamentals:

 

  • Secure the property at £220,000 for the next 6 years.

  • Buyer has the right to buy, but not the obligation to buy.

6 YR LEASE OPTION 

 

Option Price: 

Term:

Option Deposit:

Option Repayments PCM:

DUE DILIGENCE

Oldbury, B69

FINANCIALS

BASED ON 6 BED HMO

15 YR REPAYMENT LEASE OPTION 

6 YR LEASE OPTION 

We insist any interested parties must satisfy themselves as to the accuracy on any information they receive by carrying out independent assessments or otherwise before making any commitment to participate. Click here for full disclaimer

Hotkey Invest
An experienced and dynamic investment house
here to help you develop your
property investment strategy.
Hotkey Invest,
4 High Street, Wem, Shrewsbury, SY4 5AA
DISCLAIMER
IMPORTANT NOTICE: Hotkey Invest trading name for Hotkey Consultancy Ltd for themselves and for the lessors or vendors of this property whose agents they are give notice that:  1. No appliances, services or service installations have been tested and no warranty as to suitability or serviceability is implied. Any prospective purchaser or lessee is advised to obtain verification from their surveyor or solicitor.  2. The particulars are set out as a general outline only for the guidance of the intended purchasers or lessees and do not constitute, nor constitute part of, an offer or contract.  3. All descriptions, calculations, reference to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct but any intending purchasers or lessees should not rely on them as statements or representation of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them before making any commitment to participate.  Calculations have been rounded up or down accordingly. 4. No person in the employment of Hotkey Invest has any authority to make or give any representation or warranty whatsoever in relation to this property.  5. All rentals and prices are quoted exclusive of Stamp Duty, legal and surveyors fees and any other associated purchasers or lessees costs.  6.  Floor plans are indicative only and should not be relied on.  7. The map showing the boundary of the property postcode is indicative only and has not been checked against the legal title so should not be relied on.  8.  All dimensions, floor areas and site areas are only approximate and should not be relied on.  Dimensions are generally maximum room dimensions.  9. Hotkey Invest is not a regulated or licensed investment or financial advisor, therefore please seek independent financial advice.  10. Hotkey Invest is not a property management company for Serviced Accommodation, House of Multiple Occupation, Buy to Let and other, therefore please seek an independent management company before making any commitment to participate.  11. Hotkey Invest cannot be held liable for any losses whatsoever incurred as a result of any decisions made from relying on this report.
 
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