REF 686
INVESTMENT
£215,000
GROSS YIELD
9.44%
ANNUAL RENT
£20,304
Owned and operated as an HMO since 2004.
Andover has a very low unemployment rate and as such finding tenants couldn’t be easier.
From the owner. “I rarely need to source tenants myself as most of the current tenants work together and prefer to live with people they know from work. As such there is a fairly low turnover of tenants lived there for almost 10 years, the others have lived there for 2-4 years.
In recent years, there has been barely a day or so between one tenant leaving and another moving in. This arrangement also has the benefit of the residents living together more harmoniously. The property had a new bathroom and two bedrooms were re-carpeted this year and the communal areas benefited from a reaint recently. All tenants are Polish speaking but also speak excellent English. There is a small easily manageable back garden, mainly paved with a shed and plenty of communal parking.”
Licence renewed this year.
*Based on 75% LTV 2.5% APR. Note. Always speak to a qualified HMO mortgage broker for an accurate quote. These rates are an example of the potential % APR rates only. Visit theHMOmortgagebroker.co.uk to find out the latest HMO mortgage rates.
The fee charged to the buyer in addition to the purchase price.
The deposit amount to secure the HMO opportunity. This is fully refundable in accordance with the terms & conditions (see FAQs) and is deducted from the purchasre price upon completion. In the case of this property, the reservation deposit is -- then the balance due on completion is £215,000.
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