Norwich BMV Deal

D2V NORWICH BMV REFURB & REFINANCE OPPORTUNITY
Norwich, NR5
This is a genuine direct-to-vendor opportunity sourced by one of our mentees.
The vendor is a tired landlord selling for financial reasons and is happy to proceed with an investor purchasing through a standard buy-to-let mortgage. You do not need to be a cash buyer or use bridging finance.

£180,000 Purchase Price
£225,000 Supported Current Market Value
20% Below Current Market Value
£240,000 Estimated Post-Refurb GDV

PROPERTY DETAILS
3-bedroom freehold house
Approx. 79 sqm
Vacant possession
EPC D
Council Tax Band A
Full refurbishment required
Viewings available
Cash, bridging or mortgage purchase accepted
REFURBISHMENT
Estimated refurbishment budget: £20,000

The property requires a full refurbishment. The estimated £240,000 GDV assumes the works are completed to a good standard and remains subject to an independent valuation.

SUPPORTING VALUATIONS
• Rightmove valuation: £225,000
• Zoopla valuation: £228,000
• Property Engine local average: £225,000

The comparable evidence supports a current value of approximately £225,000. The higher £240,000 figure represents the potential value after refurbishment.

RENTAL FIGURES
Estimated rent: £1,400pcm / £16,800pa
• Gross yield against purchase price: Approx. 9.33%
• Gross yield against £225,000 value: 7.47%
• Estimated monthly profit: Approx. £306.56
• Estimated annual profit: Approx. £3,678.75
• Calculator ROI/ROCE: 8.4%

CONSERVATIVE REFINANCE EXAMPLE
Using the supported £225,000 valuation:
• 75% LTV refinance: £168,750
• Locked-in equity: £56,250
• Estimated money left in the deal: Approx. £43,888

POTENTIAL POST-REFURB REFINANCE
Using the estimated £240,000 GDV:
• 75% LTV refinance: £180,000
• Estimated money left in the deal: Approx. £32,638
This higher refinance outcome is subject to the refurbishment being completed and the lender’s valuation.

ESTIMATED BUYING COSTS
• Purchase price: £180,000
• SDLT: £10,100
• Refurbishment: £20,000
• Sourcing fee: £4,000 + VAT
• Legal, survey and finance costs: allow separately

SOURCING FEE PAYMENT TERMS
50% is payable once the memorandum of sale is issued. The remaining 50% is payable on exchange or within 30 days of the memorandum of sale, whichever happens first.

POTENTIAL EXIT STRATEGIES
Refurbish and retain as a standard buy-to-let
Refinance conservatively against the current £225,000 value
Refinance after refurbishment against a potential £240,000 valuation
Long-term hold for rental income and capital growth
Potential resale following refurbishment, subject to selling costs and market conditions
Mortgage buyers are welcome. The vendor is not insisting on cash or bridging finance.
Serious investors can message me for the full deal pack, photographs, floorplans, calculator and viewing details.