stamp duty: £45,000
mortgage fees: £1,500
conveyancing fees: £13,000
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Newmarket is a market town in Suffolk, East of England. It lies around 14 miles west of Bury St Edmunds and 14 miles north-east of Cambridge.
The A14 passes Newmarket from east to west in the north of the town connecting it to Felixstowe and Catthorpe. The A11 also passes the town connecting it to London and Norwich.
Newmarket railway station lies on the Ipswich-Ely line running regular Abellio Greater Anglia services.
Newmarket is best known for racehorses. It is the largest racehorse training centre in Britain, the largest breeding centre, home to most big British horseracing institutions and a global centre for horse health. A number of horse races are held every year at Newmarket’s racecourses the Rowley Mile and July Course. An estimated one in every three jobs locally is related to horse racing. Several local attractions are obviously linked to horseracing such as the National Horse Racing Museum and Newmarket Racecourses. Other places to visit nearby include the National Trust property Ickworth House in Bury St Edmunds, Fitzwilliam Museum in Cambridge, Kentwell Hall in Long Melford to name a few.
Shopping in Newmarket is centred around the local high street which offers big name brands as well as smaller, independent boutiques. There are also several established restaurants offering all types of cuisines as well as cafes and local pubs.
Education in Newmarket is provide by a number of primary schools and Newmarket Academy. It is also home to an Air Training Corps squadron and an Army Cadet Detachment.
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Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.
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