Financial Snapshot (Indicative)
Figures are indicative and based on information provided by the listing source. They are not a full investment appraisal.
| Address | 163 Mab Lane, Liverpool, Merseyside, L12 6QN |
| Auction date | 12/02/2026 |
| Guide price | £100,000+ |
| Auction starting bid (given) | £100,000 |
| Type | 3-bed semi-detached residential investment |
| Tenure | Freehold |
| Tenancy (listing) | Let on AST at £6,600 per annum (£550 pcm) |
| Construction | Non-standard construction (mortgageability risk) |
| Auction website page | View listing on Sutton Kersh |
- Buyer administration charge (listing): 1.35% + VAT of purchase price, subject to a minimum of £1,800 + VAT.
- Legal pack note (listing): some packs can include additional fees and special conditions, so check the pack carefully.
- Reminder: you may have other costs in the legal pack or addendum (eg seller legal costs, searches, arrears, tenancy requirements). Always confirm before bidding.
| Type | Comparable | Price | Date |
|---|---|---|---|
| Sold (0.25 mi / 12 months) | 64 Mab Lane, L12 6RA | £158,000 | 19 Nov 2025 |
| Sold (0.25 mi / 12 months) | 79 Mab Lane, L12 6RA | £180,000 | May 2025 |
| Sold (0.25 mi / 12 months) | 96 Mab Lane, L12 6RL | £155,000 | Mar 2025 |
| Sold (0.25 mi / 12 months) | 305 Princess Drive, L12 6QG | £160,000 | Sep 2025 |
| Listed (0.25 mi) | Aspes Road, West Derby, L12 | £165,000 | Current |
| Listed (nearby) | Finch Lane, Knotty Ash, L14 | £180,000 | Current |
The Liverpool HMO Article 4 coverage is concentrated in specific wards shown on the council direction map. West Derby is shown outside the boundary on that map. Still, confirm by postcode on Liverpool City Council mapping before relying on this.
| Item | Assumption used | Why it matters |
|---|---|---|
| GDV scenarios | A: £155k, B: £165k, C: £180k | Anchored to the sold and listed evidence available. |
| Refurb stress tests | Min: £15k, Med: £25k, Max: £35k | Captures tidy-up vs moderate vs heavy refresh risk. |
| Bridging | 0.9% per month, 75% LTV on purchase, +2% arrangement fee | Auction timelines and cost of money drive profit heavily. |
| Buyer admin fee | 1.35% + VAT (min £1,800 + VAT) | Taken from the listing buyer fee note. |
| SDLT (investor) | Higher rates assumed (investor/additional property case) | If you are replacing your main residence, SDLT can differ materially. |
| Sale costs | Estate agent 1.5% + VAT, sale legal £900 | Standard disposal cost for flip modelling. |
| Purchase legals / admin | £1,500 legal, £500 misc admin (searches, certificates, etc) | Keeps the cap realistic even before seeing special conditions. |
FULL MATRIX: Net flip profit (£) at bid £100,000 (viewer-friendly)
| GDV scenario | Refurb | 6 months | 9 months | 12 months |
|---|---|---|---|---|
| A (Low) | Min | £21,600 | £19,575 | £17,550 |
| A (Low) | Med | £11,600 | £9,575 | £7,550 |
| A (Low) | Max | £1,600 | -£425 | -£2,450 |
| B (Mid) | Min | £31,420 | £29,395 | £27,370 |
| B (Mid) | Med | £21,420 | £19,395 | £17,370 |
| B (Mid) | Max | £11,420 | £9,395 | £7,370 |
| C (High) | Min | £46,150 | £44,125 | £42,100 |
| C (High) | Med | £36,150 | £34,125 | £32,100 |
| C (High) | Max | £26,150 | £24,125 | £22,100 |
Compare the three GDV scenarios: Max bid to target minimum £40k net profit
| Refurb stress test | Max bid for £40k (6m) | Max bid for £40k (9m) | Max bid for £40k (12m) |
|---|---|---|---|
| Min (£15k) | Below £100k start | Below £100k start | Below £100k start |
| Med (£25k) | Below £100k start | Below £100k start | Below £100k start |
| Max (£35k) | Below £100k start | Below £100k start | Below £100k start |
| Refurb stress test | Max bid for £40k (6m) | Max bid for £40k (9m) | Max bid for £40k (12m) |
|---|---|---|---|
| Min (£15k) | Below £100k start | Below £100k start | Below £100k start |
| Med (£25k) | Below £100k start | Below £100k start | Below £100k start |
| Max (£35k) | Below £100k start | Below £100k start | Below £100k start |
| Refurb stress test | Max bid for £40k (6m) | Max bid for £40k (9m) | Max bid for £40k (12m) |
|---|---|---|---|
| Min (£15k) | £105,500 | £103,500 | £102,000 |
| Med (£25k) | Below £100k start | Below £100k start | Below £100k start |
| Max (£35k) | Below £100k start | Below £100k start | Below £100k start |
Three max bid scenarios (simple and usable)
| Scenario | Assumptions | Suggested max bid | What it aims to achieve |
|---|---|---|---|
| Conservative | GDV £155k, refurb £35k, 12 months | £98,000 (Absolute walk-away cap) | Avoid a loss if worst-case costs and time hit. |
| Base case | GDV £165k, refurb £25k, 9 months | £104,000 (Hard stop cap) | Keeps profit meaningful but not £40k. |
| Optimistic | GDV £180k, refurb £15k, 6 months | £105,500 (Max bid to still target £40k) | Targets the £40k net profit requirement. |
- Hard Stop Rule: do not bid above £104,000 unless you can justify GDV near £180k and refurb near £15k.
- Confirm tenancy: AST start date, deposit protection, rent schedule, arrears, and access rights for works.
- Confirm construction type and lender appetite (non-standard construction can block refinance and buyer demand).
- Read special conditions and addendum: extra fees, completion deadlines, seller costs, title quirks, restrictions.
- Finance ready: bridging AIP, valuation plan, and exit route confirmed (sale or refinance timeline).
Flip vs BTL cashflow comparison (with stress test)
| Scenario | Value used | Rent used | Mortgage basis | Net monthly cashflow | Stress note |
|---|---|---|---|---|---|
| BTL (as-is rent) | £165k | £550 pcm | 75% LTV IO @ 6.5% | -£260 pcm | Does not work unless debt is lower or rent increases. |
| BTL (market rent) | £165k | £950 pcm | 75% LTV IO @ 6.5% | +£60 pcm | Thin margin after costs. |
| BTL stress | £165k | £1,050 pcm | 75% LTV IO @ 8.0% | -£15 pcm | Rate pressure can wipe out cashflow. |
| BRRR lane | Bid | Value used | Refurb | Hold | Cash left in (approx) | Comment |
|---|---|---|---|---|---|---|
| Base BRRR | £100,000 | £165,000 | £25,000 | 6 months | ~£16,000 | Works if refinance is possible at decent terms. |
| Optimistic BRRR | £100,000 | £180,000 | £15,000 | 6 months | ~£0 (or small cash-out) | This is sensitive to valuation and lender stance on non-standard construction. |
Kill test legal pack checklist (walk away if any fail)
| Kill test item | What to verify | Why it kills the deal |
|---|---|---|
| Special conditions | Any extra fees (seller legal fees, search fees, arrears, exclusivity charges), abnormal completion terms | Can wipe profit and distort your max bid. |
| Title restrictions | Covenants, easements, lack of rights of way/services, restrictions on alterations or use | Blocks refurb, resale, or lender security. |
| Tenancy pack | Rent schedule, arrears, deposit protection, compliance docs, access for works, possession route | If you cannot manage vacancy or uplift rent, BTL and flip assumptions fail. |
| Construction confirmation | Exact build type and lender acceptability evidence | Non-standard construction can mean no refinance, weaker resale demand, lower GDV. |
| Searches / planning / enforcement | Any notices, enforcement, proposed road schemes, adverse local search results | Unexpected restrictions and future value risk. |
Risks identified from available documents (listing + brochure only)
| Risk | What we know | Impact | Mitigation |
|---|---|---|---|
| Non-standard construction | Explicitly stated on the listing/brochure | Can reduce lender options, LTV, buyer pool, and GDV | Confirm exact type; test refinance with broker before bidding. |
| Tenanted at low rent | AST at £550 pcm | Limits works, delays exit, weakens BTL cashflow | Review tenancy; plan possession route; price timeline risk into bid. |
| Auction fee structure | Buyer admin charge applies (min £1,800 + VAT) | Directly reduces net profit and max bid | Keep bid cap tight and confirm any extra pack fees. |
Why: The flip is profitable at £100k across most lanes, but the £40k target only hits in the optimistic lane (GDV near £180k, refurb near £15k, short hold). Non-standard construction and tenancy risk can pull you back into the base or conservative lane quickly.
Legal Pack Analysed (Investor Preview)
This is not a summary.
This is a buyer-grade legal risk review.
Every auction and sourced deal comes with a legal pack.
Most investors either skim it… or ignore it entirely.
That’s where expensive mistakes happen.
Below analysis breaks down the actual risks, restrictions, and hidden clauses inside the legal pack that directly affect:
- Whether you can finance the deal
- Whether your exit works
- Whether the numbers you ran are even valid
| High-impact items | What the pack indicates | Why investors care | Action before auction |
|---|---|---|---|
| Lender charge + restriction | Register shows a restriction requiring written consent of the charge holder, and a registered charge in favour of Bank of Scotland PLC. :contentReference[oaicite:0]{index=0} | If the charge is not properly discharged on completion, it can block registration and delay refinance/resale. | Solicitor to confirm discharge route (DS1/e-DS1) and completion undertakings. |
| Sold subject to tenancy | Auction contract states the property is sold subject to a tenancy agreement dated 1 September 2023. :contentReference[oaicite:1]{index=1} | Controls possession timeline, refurb access, and flip/BRRR timing risk. | Verify rent, arrears, deposit position, compliance documents, and term type. |
| Buyer pays seller legal costs | Buyer contribution of £1,000 + VAT to seller legal costs is stated in the special conditions. :contentReference[oaicite:2]{index=2} | Fixed cost reduces bid headroom and profit across all strategies. | Price into cap and do not assume it is negotiable. |
| OS1 responsibility | Contract places responsibility on the buyer to obtain OS1 on auction morning and obtain OS1 priority after success. :contentReference[oaicite:3]{index=3} | If you fail to protect priority and adverse entries appear, you cannot use that as a reason to refuse or delay completion. | Confirm solicitor process for same-day OS1 and priority. |
| Restrictive covenants | Register references restrictive covenants in a 25.08.1947 conveyance and a 30.08.1982 conveyance. :contentReference[oaicite:4]{index=4} | Can affect use, alterations, signage, and create breach risk that surfaces at resale/refinance. | Solicitor to summarise enforceability and identify any breach risk from inspection. |
Amber clarify
Green low concern
| # | Document | What it is | Investor relevance |
|---|---|---|---|
| 0.1 | Auction Contract (RICS Common Auction Conditions Ed. 4 incorporated) :contentReference[oaicite:5]{index=5} | Memorandum of sale + special conditions | Fees, completion timeline, tenancy position, buyer obligations |
| 0.2 | Official Copy of Register (Title MS168134) :contentReference[oaicite:6]{index=6} | Land Registry title register | Ownership, charges, restrictions, covenant references |
| 0.3 | Official Copy of Title Plan (MS168134) :contentReference[oaicite:7]{index=7} | Land Registry plan | Boundary extent, general position of plot |
| 0.4 | Conveyance dated 30.08.1982 (MS168134) :contentReference[oaicite:8]{index=8} | Historic conveyance (Housing Act context) | Rights, reservations, restrictions and boundary structures |
| 0.5 | Conveyance dated 25.08.1947 (MS168134) :contentReference[oaicite:9]{index=9} | Historic estate conveyance | Older covenant and reservations that may still bind the title |
| 0.6 | Tenancy Agreement (redacted) :contentReference[oaicite:10]{index=10} | Assured Tenancy Agreement | Rent, deposit, term, possession reality, access for works |
| 0.7 | EPC :contentReference[oaicite:11]{index=11} | Energy Performance Certificate | Letting compliance and potential upgrade costs |
| Contract item | Pack position | Risk tag | What to do |
|---|---|---|---|
| Completion timeframe | Completion date is 20 working days after the contract date. :contentReference[oaicite:12]{index=12} | Time risk | Ensure solicitor, funds, and insurance are ready before bidding. |
| Late completion interest | Interest rate is 4% above Barclays base rate. :contentReference[oaicite:13]{index=13} | Cost accelerator | Assume no slippage. Price delay risk into your contingency. |
| Tenancy | Sold subject to tenancy agreement between Stephen Canty and Libby Joy Hale dated 1 Sept 2023. :contentReference[oaicite:14]{index=14} | Strategy constraint | Confirm rent, arrears, compliance, and term type. Assume possession is not immediate. |
| Buyer pays seller legal cost contribution | Buyer pays seller £1,000 + VAT on completion. :contentReference[oaicite:15]{index=15} | Bid cap reducer | Include in total acquisition costs and cap bids accordingly. |
| Default admin cost | If Notice to Complete served due to buyer default, buyer pays seller solicitor £500 + VAT. :contentReference[oaicite:16]{index=16} | Downside | Another reason to avoid timelines you cannot meet. |
| OS1 search obligation | Buyer responsible for OS1 on auction morning and OS1 priority after success, and cannot refuse/delay completion if they fail to do this. :contentReference[oaicite:17]{index=17} | Process-critical | Pre-brief your solicitor. Confirm they can act same day. |
| Insurance from exchange | Buyer to insure the property from the contract date up to completion. :contentReference[oaicite:18]{index=18} | Immediate obligation | Have a quote ready and bind cover immediately if successful. |
| Email notices not valid | Service of notices is not valid if sent by email. :contentReference[oaicite:19]{index=19} | Admin risk | Keep everything formal and trackable (post / DX as required). |
Bid-impact red flags to confirm before auction
- Tenancy is binding: your strategy must work with a tenant in place (or with a realistic possession timeline). :contentReference[oaicite:20]{index=20}
- Fixed seller legal cost contribution: £1,000 + VAT is a direct reduction to profit headroom. :contentReference[oaicite:21]{index=21}
- OS1 requirement: failure to protect priority is explicitly your risk. :contentReference[oaicite:22]{index=22}
| Tenure | Freehold, title absolute. :contentReference[oaicite:23]{index=23} |
| Property description | Freehold land shown edged red on plan, being 163 Mab Lane, Liverpool (L12 6QN). :contentReference[oaicite:24]{index=24} |
| Proprietor shown | Stephen Canty of 163 Mab Lane, Liverpool L12 6QN. :contentReference[oaicite:25]{index=25} |
| Restriction (disposal) | No disposition is to be registered without written consent signed by the proprietor of the charge dated 27 Jan 2006 (Bank of Scotland PLC). :contentReference[oaicite:26]{index=26} |
| Registered charge | Registered charge dated 27 Jan 2006, proprietor Bank of Scotland PLC. :contentReference[oaicite:27]{index=27} |
| Restrictive covenant sources | 1947 conveyance contains restrictive covenants, exceptions and reservations. 1982 conveyance contains restrictive covenants. Register notes 1965 covenants referred to do not affect the land in this title. :contentReference[oaicite:28]{index=28} |
| Boundary structures note | The 30 Aug 1982 conveyance contains a provision as to boundary structures. :contentReference[oaicite:29]{index=29} |
- Charge discharge: solicitor to confirm how the Bank of Scotland charge will be redeemed and evidence of discharge produced. :contentReference[oaicite:30]{index=30}
- Covenants: solicitor to confirm enforceability and whether any current breach exists (especially if works have been done historically). :contentReference[oaicite:31]{index=31}
- Confirms the general position of the property within the estate layout and the title number MS168134. :contentReference[oaicite:32]{index=32}
- Boundaries shown are general, not the exact line. Measurements scaled from plan may not match ground measurements. :contentReference[oaicite:33]{index=33}
Investor checks to do
- Walk the boundary: ensure the fenced/used area matches the red edging, including any side access or rear garden extent.
- Look for any encroachment or shared access points that could create disputes at resale.
| Provision | What it says (plain English) | Investor impact | Risk tag |
|---|---|---|---|
| Use restriction | Not to use the property other than as a private dwellinghouse. :contentReference[oaicite:34]{index=34} | Generally fine for single-let BTL, but can restrict non-residential uses. | Constraint |
| Advertising restriction | No advertisement displayed and no hoarding erected other than a “For Sale” notice. :contentReference[oaicite:35]{index=35} | Minor, but avoid signage that could trigger complaints. | Low |
| Nuisance restriction | Not to do or allow anything that becomes a nuisance/annoyance or tends to lessen/depreciate value in the neighbourhood. :contentReference[oaicite:36]{index=36} | Standard estate covenant. Relevant if works are disruptive or if use becomes contentious. | Standard |
| Boundary structures | Walls and fences separating the property from adjoining properties are to be party walls/fences and maintainable as such. :contentReference[oaicite:37]{index=37} | Disputes over fence repairs are common. Inspect and budget for boundary repairs. | Dispute risk |
| Rights for services and access of light/air | Rights include support, access of light/air, passage of water and gas, drainage and disposal, and use/maintenance of pipes and cables, subject to contribution to reasonable costs (where applicable). :contentReference[oaicite:38]{index=38} | Normal estate rights. Be aware of cost contribution mechanics if shared apparatus exists. | Normal |
| Historic Right-to-Buy style clawback | Includes a covenant referring to payment to the vendor on certain disposals within five years (discount repayment style). :contentReference[oaicite:39]{index=39} | Given the conveyance date is 1982, this time window has long expired, but your solicitor should confirm no modern equivalent applies. | Historic |
- Ask solicitor to confirm which restrictive covenants remain enforceable and whether any consent is required for past or planned alterations. :contentReference[oaicite:40]{index=40}
- Inspect all boundary fences/walls to avoid inherited disputes and immediate repair cost. :contentReference[oaicite:41]{index=41}
- The 1947 conveyance contains restrictive covenants, exceptions and reservations, and a copy is filed. :contentReference[oaicite:42]{index=42}
What is visible in the filed copy (high-level themes)
- The document is an older handwritten deed and references estate rights and reservations that typically include services and drainage related matters. :contentReference[oaicite:43]{index=43}
- There is a plan referred to within the deed, which can be relevant if any historic rights or boundaries are disputed. :contentReference[oaicite:44]{index=44}
Investor priority (solicitor to confirm)
- Exact wording of restrictive covenants, and whether they still bind the land and are enforceable today. :contentReference[oaicite:45]{index=45}
- Whether any covenant is currently in breach (historic extensions, cladding, boundary works, outbuildings, use). :contentReference[oaicite:46]{index=46}
- Who has the benefit of enforcement and what practical risk exists (neighbours, successors, local authority or estate holder). :contentReference[oaicite:47]{index=47}
Get a plain-English covenant summary from your solicitor and confirm whether indemnity insurance is appropriate if risk is identified.
| Tenancy item | What the document shows | Investor meaning | Risk tag |
|---|---|---|---|
| Agreement type | Assured Tenancy Agreement. :contentReference[oaicite:48]{index=48} | Possession is governed by Housing Act routes (not instant). Factor timeline risk into any flip/BRRR plan. | Strategy risk |
| Term | Periodic tenancy commencing at 9am on 11/09/23, continuing on a year-to-year basis until terminated by either party. :contentReference[oaicite:49]{index=49} | Not a short fixed term you can simply wait out. You must plan around notice and court timelines if possession is needed. | Timeline risk |
| Rent | £720 per month, payable in advance on or before the 1st of each month, to an account noted as “Santander Business Bank” (as written on the copy). :contentReference[oaicite:50]{index=50} | Confirm payment history and arrears position. Rent level drives BTL cashflow and holding-cost offset. | Verify |
| Deposit | Security deposit recorded as £0. :contentReference[oaicite:51]{index=51} | No deposit reduces tenant damage/arreas buffering and changes risk profile. Also reduces deposit compliance issues, but confirm this is accurate. | Unusual |
| Pets and smoking | No pets without prior written permission; no smoking in the property. :contentReference[oaicite:52]{index=52} | Standard control clauses. Useful for management, but enforcement depends on evidence and process. | Normal |
| Landlord access | Landlord/agents may enter at reasonable times to inspect or repair, or to show to prospective tenants/purchasers in compliance with the Act. :contentReference[oaicite:53]{index=53} | Helpful for inspections, but still requires reasonable notice and tenant cooperation in practice. | Practical |
| Utilities | Tenant responsible for payment of utilities relating to the property. :contentReference[oaicite:54]{index=54} | Standard, but confirm council tax responsibility and any void liability if possession occurs. | Normal |
| Assignment and subletting | Tenant will not assign, sublet, or grant a concession/licence to use the property or any part. :contentReference[oaicite:55]{index=55} | Reduces HMO style risks, but verify occupancy and any unauthorised occupiers. | Check |
| Termination routes | Provides for termination via notices under the Act, including reference examples to Section 21 and Section 8 routes. :contentReference[oaicite:56]{index=56} | Possession is procedural. Any compliance gaps can slow down or block certain routes. | Possession risk |
Tenancy red flags to confirm before auction
- Rent verification: confirm rent is actually paid at £720 pcm and whether there are arrears. :contentReference[oaicite:57]{index=57}
- Deposit recorded as £0: confirm this is correct and not a redaction or paperwork gap. :contentReference[oaicite:58]{index=58}
- Compliance documents: ensure the full landlord compliance pack exists (EPC service, electrical, gas if applicable, prescribed docs) because possession routes can be affected if compliance is missing.
- Occupancy reality: confirm who is living there and whether there are unauthorised occupants.
| EPC rating | D (score 68), potential B (score 83). :contentReference[oaicite:59]{index=59} |
| Valid until | 20 June 2034. :contentReference[oaicite:60]{index=60} |
| Property type and size | Semi-detached house, total floor area 79 sq m. :contentReference[oaicite:61]{index=61} |
| Suggested improvement examples | Mentions measures such as solid floor insulation, heating controls (TRVs), solar water heating, and solar PV as upgrade path. :contentReference[oaicite:62]{index=62} |
| Letting rule | States properties can be let if they have a rating from A to E. :contentReference[oaicite:63]{index=63} |
| Red flag | Evidence in pack | Why it matters | Exact check to request |
|---|---|---|---|
| Registered charge and disposal restriction | Restriction requiring consent of charge holder, and charge in favour of Bank of Scotland PLC. :contentReference[oaicite:64]{index=64} | Registration/refinance risk if discharge is not clean. | Solicitor confirmation of discharge evidence and undertakings. |
| Sold subject to tenancy | Special condition confirms tenancy, dated 1 Sept 2023. :contentReference[oaicite:65]{index=65} | Possession timeline risk and refurb access limitations. | Rent schedule, arrears statement, compliance pack, occupancy check. |
| Periodic year-to-year tenancy | Tenancy shows periodic year-to-year basis from 11/09/23. :contentReference[oaicite:66]{index=66} | Not a clean fixed-term expiry. Possession can be slower. | Solicitor to advise realistic possession route and timeline for your strategy. |
| Deposit recorded as £0 | Security deposit shown as £0. :contentReference[oaicite:67]{index=67} | Higher damage/arrears risk. Also unusual, verify accuracy. | Written confirmation from seller/agent and rental payment evidence. |
| Buyer pays seller legal cost contribution | £1,000 + VAT payable by buyer on completion. :contentReference[oaicite:68]{index=68} | Directly reduces profit and bid ceiling. | Include in acquisition costs and ensure it is budgeted. |
| OS1 obligation | Buyer must obtain OS1 on auction morning and OS1 priority after success. :contentReference[oaicite:69]{index=69} | Priority failure risk cannot be used to delay completion. | Confirm solicitor can do OS1 same day and immediately after winning. |
| Restrictive covenants (1947 and 1982) | Title register references both deeds. :contentReference[oaicite:70]{index=70} | Potential alteration/use restrictions and breach exposure. | Solicitor plain-English covenant summary and breach assessment. |
- Solicitor readiness: confirm they can act immediately post-auction and handle OS1 priority. :contentReference[oaicite:71]{index=71}
- Charge discharge: confirm lender charge will be redeemed and discharged on completion. :contentReference[oaicite:72]{index=72}
- Tenancy verification: get rent and arrears confirmation, term type confirmation, and check occupancy.
- Cost pricing: include buyer-paid seller legal contribution and any other auction costs stated in the contract. :contentReference[oaicite:74]{index=74}
- Insurance: line up buildings insurance to start from exchange (contract date). :contentReference[oaicite:75]{index=75}
Investment Financials
Detailed figures supplied by the deal source. Use these figures as a starting point for your own investment analysis.
Acquisition & Project Costs
Projected Outcome
Financial information is supplied by the listing source and may not include all purchase, finance, tax, legal, holding, refurbishment or disposal costs. Investors should independently verify all figures and assumptions before proceeding.
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