White & Co Property Solutions Ltd
Date     Year
12/11    2008
 
Garston, Liverpool L19 - couple buying another house - NOW 26% BMV to you

2 bed 2 reception spacious Victorian mid terrace

No refurb needed, some odd jobs vendor will sort out. Very lettable area.
  • Not valued yet
  • Vendor agreed to drop sale price if the valuation lower than expected
  • discount therefore remains the same to you
I think this property will let around £525 £550pcm to a working tenant.  If let to a benefit claimant, you could get £495pcm / £525pcm depending on whether you use the extra reception as a 3rd bedroom.


UPDATE -

The buyer pulled out of this deal for personal reasons.  It has valued successfully at £100,000.

Due to the change in the mortgage situation, I am re-offering this deal at 26% BMV (it was 22%). 

Due to rentals it will only stack up on a 75% LTV mortgage, so you will require NO deposit, and 2.5k - 3k for the remainder of your purchase costs.  The property needs no work, the vendor has done it all now.

Please let me know ASAP to secure this deal.

ref 119
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:                                        £ 100,000
  2. Your Price:                                               £ 78,000 (including FF)
  3. Below Market Value By:                      22%
  4. Rentals:                                                      £ see introduction (£495 - £525 up to £550).


Mortgage Examples
  1. 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 DOES stack for 85% BTL.
  2. 90% LTV -  let-to-buy - you could get around £12,000 cashback towards fees.
  3. 85% LTV - let to buy - you will get £7,000 gross cashback - this should be completely 'no money down' after all fees.
  4. 75% LTV - you will require £3,000 deposit, and around £3,750 for purchase costs.  You will however obtain much better mortgage rates, £25,000 in equity, and better cashflow.
             
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 popular for lettings.  There are nearby train and bus links to the city centre.  There are ample local facilities and much of the local Victorian property is let out, including some to students.

The property is a well maintained, renovated and refurbed 2 bed 2 reception Victorian mid terrace.  It is quite spacious and has an attrcative kitchen and bathroom extension downstairs.  It has full gas heating, double glazing, attractive laminate flooring and new carpets.  Most of the walls have recently been repalstered, and the property is newly decorated in neutral tones.  It is essentially ready to let apart from a few minor jobs which the owner has agreed to do.

Finally, the kitchen, bathroom, double glazing and central heating systems are all less than a year old.

Please see introduction for lettings info.

WHY BELOW MARKET VALUE?

Vendor selling due to new partner, they have sold one property and need to get rid of this one, so they can buy their 'dream' house.

Please state interest by email.



Finally


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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. 

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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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