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Date Year
10/09 2008
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Croxteth, L11 - 2 bed semi, emigration - 21% BMV to you
Good condition, ready to let out.
- Not
valued yet
- Vendor
agreed to drop sale price if the valuation lower than expected
- discount
therefore remains the same to you
The vendor has had difficutlies selling on the open market as he prepares to emigrate. He previously turned down our offer but came back this week to agree.
Its offered at 21% BMV. As it is low-value and cashflows well, this will stack up for an 85% BTL mortgage.
Offered again at a higher discount (first time 04/09) - due to lack of response
ref 112
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Greetings!
Welcome to the new-look, simplified Done Deals Alert.
You can view previous and current Done Deal Alerts by clicking here: Archive Homepage
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NEW - completely NMD purchasing method - you can borrow the entire upfront costs of the deal (brokers, reservation fee, survey and searches) - see next section.
We now have a fully compliant and comprehensive NMD financing scheme in place.
Please see the last section of this email for links to further information about this deal, and general terms and conditions.
If you wish to register your interest, or request further information, please email back. This does not commit you to proceed with the purchase.
Kind Regards
Arlo
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The Numbers
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by Article Author
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Basic Figures
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Market
Value: £ 80,000
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Your Price:
£ 63,200 (including FF)
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Below Market Value By:
21%
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Rentals:
£ 495 pcm
Mortgage Examples
-
Different LTV mortgages examples - note that 85% + may not be possible on traditional buy to let mortgages, but other finance suggestions are included later. NB this stacks for 85% BTL.
- 90% LTV - let-to-buy mortgage - you could get around £8,800 cashback towards fees.
- 85% LTV - you will get £4,800 cashback
- 80% LTV - you will get £800 cashback, and will require around £2,700 ish for purchase fees, but will have a better mortgage rate, and £16,000 in equity.
Upfront Costs
- Reservation Fee (to secure the deal) £ 500 (subtracted from FF) - this may be waived if you have previously purchased property through us and is charged to new investors only, to ensure we do not attract 'time-wasters' who may end up causing harm to our vendors.
- Broker fee £ 395
- Survey
£ 300 ish
- Search Fees
(solicitor)
£ 250
- TOTAL - depending on (1) above, you could pay between £950 - £1,450 during the purchase process.
- You may borrow the upfront costs from us - you will be charged £150 for this service, and the entire amount, including this fee, will be deducted from the completion amount. This is subject to terms and conditions - please contact me to discuss.
- Notes - 1, 2 and 3 above are only payable after you have had 24 hours to do you own due diligence and have decided to take on the deal, and
you have had a successful 'decision in principle' from our brokers. 3 is an approximate figure and may change according to lender or property price range. 4 is payable to the solicitor, unless otherwise stated above, but only after successful valuation result.
What is the Finder's Fee?
- 'Your Purchase Price' - see above - is calculated
by adding the actual Agreed Price (AP - agreed with the vendor) to the
Finder's Fee (FF) payable.
- Both the AP and FF are private and will be
revealed only to the investor chosen to proceed with this deal.
- The FF is payable upon completion and comes from the completion funds if you choose to use our NMD finance scheme.
Costs Upon Completion
- NMD finance - £1,500
- Finders Fee - if you paid a reservation fee, you will be rebated this back along with the rest of the cashback. The FF is described above, and doesn't actually affect any of the figures given in this email.
- Legal fees - you agree to pay both purchaser and vendor legal fees which should come to around £1,200 total on a typical 100k house
Notes
All mortgages are subject to survey and the purchasers own financial
standing. Figures given are for illustrative purposes only.
FINALLY - please remember we can provide you with a 'deal stacker' template
(MS Excel - if you do not have Microsoft Office please contact me for an
alternative). This spreadsheet will give you a much more comprehensive
financial analysis, which also allows you to play with the variables involved,
and allows you to compare and contrast different mortgage products.
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The Details
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AREA / PROPERTY DESCRIPTION
Photos - photos available upon request from the weekend onwards
The property is situated in a better part of Croxteth, near Croxteth Country Park.
Location map HERE
The property is a 2 bed 1 reception ex local authority council property. Standard brick built, 1954, garden front and back, full DG and GCH.
The property is ready to let now.
WHY BELOW MARKET VALUE?
The vendor is emigrating, the house sale is stalling his move, and he needs to free cash to finance his new life abroad.
Please state a serious interest for consideration for this property, and you will be sent photos when I receive them. Once you get them, you have 24 hrs to do due diligence and give me a firm yes/no. I will offer it to the first person who confirms yes.
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Finally
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Past and Current Deal Archive:
Archive
Disclaimer:No part of
this email constitutes or forms part of a contract. White & Co is not
a licensed estate agency or licensed investment advisor. White & Co
is not authorised by the Financial Sevices Authority to give investment or
financial advice.
Terms & Conditions:
By replying to this email, or emailing back with the deal / lead reference number, you acknowledge and agree to the terms and conditions should you be chosen to purchase this lead and you then agree to proceed. Please note 'stating an interest' or requesting further information does not commit you to anything.
Terms and Conditions Page
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Contact Information
Mobile: 07792 843389
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