Example Deals
2 Bed Flat, Telford, Shropshire
| Open Market Value (confirmed by independent surveyor) | £71,000.00 |
| Purchase price | £62,500.00 |
Gross discount acheived at approximately 12% | |
| Gemini reservation fee | £1,000.00 |
| Valuation Fee | £280.00 |
| Bridging Finance | £850.00 |
| Re mortgage (85% OMV) | £60,350.00 |
| Mortgage arr fee (may vary), added to loan. | £599.00 |
| Capital required to complete the remortgage | £2,150.00 |
| Legal fees | £450.00 |
Gemini Fee @ 2.5%+ Vat | £1835.97 |
Total cash required to complete | £6,565.97 |
The property was let on a 12 month tenancy with 10 months remaining at a rent of £400 per month and mortgage payments were £267.00 per month.
Using the cash purschase and instant re mortgage option as illustrated above, this property had built in equity on day one of £10,050.00 which represents an amazing return on cash invested of approximately 153%.
This property has potential for future capital growth and increased rental yields.
Century Building