White & Co Property Solutions Ltd
Date     Year
25/10   2008
 
Little Sutton, Wirral CH66 - financial difficulties - 24% BMV to you

3 bed attractive full modernised 3 bed semi, ex council.  In an area where all ex-council seem to be owner occupied.

Rentback - agreed £495pcm x 6 mths paid in advance, after which rent to be increased.

Lettable area - terrific local housing allowance rates (£650 pcm for 3 bed rate).
  • Not valued yet
  • Vendor agreed to drop sale price if the valuation lower than expected
  • discount therefore remains the same to you
Would let for £525 - £550 pcm to working tenants.  LHA 3 bed rate here is £650 pcm.

ref 123
Photo - Arlo Greetings!

Welcome to the new-look, simplified Done Deals Alert.

  1. View our deals - You can view previous and current Done Deal Alerts by clicking here:  Archive Homepage - please visit this site if you have recently joined our subscriber list.
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  3. Purchase cost funding - for a completely NMD purchasing method - you can borrow the entire pre-completion costs of the deal (brokers, reservation fee, survey and searches) - see next section.  This service is only offered to experienced investors, or those who have bought property through us before, at our discretion.
  4. 100% 'No Money Down' financing scheme - 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
The Numbers
by Article Author Property Investment Image






Basic Figures
  1. Market Value:                                        £ 110,000
  2. Your Price:                                               £ 83,600 (including FF)
  3. Below Market Value By:                      24%
  4. Rentals:                                                       £525 - £650 - see introduction


Mortgage Examples

Please note that Buy To Let mortgages are now limited to 75% Loan to value.  This means that you need to find purchase costs of up to £3,750, if the deal is 25% BMV.  There are however several ideas to consider, so please go to
CLICK HERE  - For ideas on financing deals.

75% LTV - Example rate                                  TMW at 5.99%
                         Mortgage Payment (pcm)         £411-00
                         Gross cashflow (pcm)                  £239-00 max    to    £114-00 min
                                                                                       £84-00 during first 6 mths
                         Day one equity  (25%)                £27,500
                         Cashback or cash in (+/-)          - £1,100 towards deposit
       
Upfront Costs                          
  1. Reservation Deposit (to secure the deal)        £ 500  - This is fully refunded upon successful completion of the deal. 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.
  2. Broker fee                                                               £ 395 
  3. Survey                                                                      £ 300 ish
  4. Search Fees (solicitor)                                     £ 250
  5. TOTAL - depending on (1) above, you could pay between £950 - £1,450 during the purchase process.
  6. 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.
  7. 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
  1. NMD finance - £1,500
  2. 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.
  3. 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.



The Details

AREA / PROPERTY DESCRIPTION

 Photos - click HERE

Location map HERE

The area is ex council predominantly with a few private developments.  It is quite a middle class working area and seems mainly owner-occupied.  The property itself is in  quiet culdesac location, about 15 minutes walk from Little Sutton train station.  From there it is easy to go to Birkenhead, Liverpool or Chester.  The nearest town is Ellesmere Port.

As part of the deal, we agreed a 6 months 'rent in advance' deal with her.  The benefit for her was that we slightly reduced the rent as an incentive (£495pcm - but should be around £525 - £550).  The benefit to the buyer is assured mortgage payments for half a year.

There is little to comment abou ton the property  - its 3 beds, sturdy, fully modernised, DG and GCH, attrcative back garden, carport to front, etc - see pics to see the condition.

Upon vacant possession the property would let out easily with no work required.

WHY BELOW MARKET VALUE?

The vendor is experiencing finance difficulties due to her ex partner who has now left.  With the sale she can clear a number of unsecured debts which were crippling her cashflow. 

Please state interest by email.



Finally


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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.      

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