What you get: An attractive seven-bedroom, redbrick Georgian home, with annexe, set in about an acre. Period features include shuttered sash windows and high ceilings. There is an enclosed courtyard with stone paving, and an orchard with a pond, cherry, apple and plum trees.
Where: The coast is a short drive, or a long walk – it's about seven miles to Great Yarmouth. The shops of Ormesby St Margaret are only a mile away, and Norwich can be reached in less than 30 minutes.
How much will I be able to borrow?
These options from Alliance & Leicester are for a 25-year term and require a deposit of at least 10 per cent, or £47,500, leaving a balance of £427,500. Affordability calculations are based on income, outgoings and any debt or financial commitments. For a mortgage of this size you would need to be earning an above-average wage. Both options have a £530 valuation fee.
Five-year fixed rate: This interest is fixed at 7.14 per cent, reverting to the standard variable rate (SVR) on 31 August 2013. The monthly payments for a repayment loan would be £3,059.77, or £2,543.63 interest-only. After the fixed period ends, the monthly repayments would revert to £3,071.24 or £2,561.18 interest only. There is a £599 arrangement fee for this product.
Two-year tracker: This tracks at 1.49 per cent above the Bank of England's Base Rate (BBR), which would currently give you a rate of 6.49 per cent and leave you with monthly payments of £2,883.84 for a repayment option, or £2312.06 interest-only. At the end of the two-year period, the product will continue to track at the BBR plus 1.89 per cent. There is a 2 per cent arrangement fee for this product.
Council tax: Band G, £2,580.88
Stamp duty: 3 per cent, £17,250
Legal costs, to include land registry and search fees: from £1,500
Information correct at the time of printing. Quotes subject to status.Reuse content