Property Investment Advice

In our view it is always a good time to invest in property. However, the current turmoil in the property market means that property prices are at a low ... many prices have fallen by over 30%. In addition, with Fast-Track Property you get a further discount of 10-25% of these low values, meaning now is a seriously good time to invest.

Most new-build development has virtually come to a stand-still and before long there is likely to be a shortage of property available - which will push prices up again. Property prices may fall slightly again in 20011, but the general view is that it will then bottom out and remain steady for a couple of years. Buying now, especially if you benefit from the discount secured by Fast-Track Property, means you are very well placed to take advantage of the growth that will come over the next 5-10 years. For some interesting data about investing in property, visit Investment Property.

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The discounts offered by Fast-Track Property are set against current values and we only offer properties, which based on our research we believe to be genuinely below current value. Bearing in mind that property values have fallen by as much as 30% in some areas, prices are already good value. Coupled with the 10-25% discount off an already low price, you are getting some seriously good opportunities at the moment.

Values are usually confirmed by independent RICS (Royal Institute of Chartered Surveyors) valuations and/or comparable evidence of recently sold properties. However, any valuation is simply one person's opinion. If you commission three separate surveyors to value any property ... and you are likely to get three different valuations. You recommend that you carry out your own research to satisfy yourself that you're buying at a good price.

To buy an investment property in the UK with "no money down", what you are in fact doing is obtaining a mortgage of 75%-85% of the valuation of the property and your deposit is offset by a discount on the property. So with an 85% mortgage, you need a 15% discount make up the full purchase price. A 75% mortgage needs a 25% discount. And so on.

It is, of course, not entirely "no-money-down", but more like 100% financing of the property. You would still need to funds for the usual purchase costs such as valuations, lender fees and legal fees, etc.

Before the credit crunch there were several lenders who were happy with this 100% finance structure and discounts were available from developers selling to bulk purchasers. The credit crunch saw the banks come under serious criticism for irresponsible lending, meaning most, if not all, lenders have changed the way they do business. Due to these factors, the 100% finance model in the buy-to-let market is no longer viable in the UK.

Fast-Track Property does not provide property in the UK on "no money down" or "no deposit" schemes.

However, there's good news when you invest in Off Plan Property. Fast-Track is an approved introducer to the Deposit Guarantee Scheme backed by Zurich. With the scheme you can secure a new property that's 1-4 years off plan, without having to pay your deposit until completion. You simply pay a relatively small fee to the Zurich scheme, and exchange on the property with no deposit. You fix the purchase price at today's value with the potential for capital growth during the next few years ... without the hassle of paying a mortgage or having a tenant in place ... and your deposit stays in your bank. Visit Investment Property Funding to learn more.

In addition, there are some deals on property abroad where 100% funding is available as the lending rules can be more flexible.

You may see some "no money down" schemes on UK property advertised on the internet, but we advise you to be cautious. There are several areas where the deal could fall down and most do not proceed to completion. The current economic climate and fall in property values has brought many opportunists into the market. These people may be offering apparently huge discounts and "no money down" deals. However, they often have little understanding of the legal situation and the deals fall apart. Please make sure you deal with reputable companies such as Fast-Track Property who has been in business since 2004 and sourced over 3,000 individual plots of below-market-value property in the UK.

 

Fast-Track Property are not mortgage brokers, but work closely with a team of experienced mortgage brokers, , who help you obtain funding. Find out more about how buy to let mortgages work at Investment Property Funding.

We work closely with Buy To Let Mortage Advisors at The Mortgage Advice Team. At their web site, you can get an Online Buy To Let Mortgage Quote and view the Buy To Let Best Buy Tables.

If you intend to get mortgage funding it's important that you speak to a mortgage advisor before reserving an investment property, so you're confident of your mortgage options.

At Fast-Track we obtain rental assessments from local agents before we launch the property ... many properties are already tenanted ... and in some cases we can secure rental guarantees.

However, the rental market constantly changes and a rent achievable one month, may not be achievable in the next. In our experience of managing our own properties, it is important to get the property let as quickly as possible, even if that means dropping the rent slightly. I have always found dropping the rent to meet market demand will give me a quick tenant. The rent can always be increased later.

We believe that the personal touch sets us apart from other property brokers. You will hear from one of our team shortly after registration. At that stage we will discuss your requirements, identifying your time scales, budgets, locations considered and any other relevant issues that you would like to discuss.

We do not charge a joining fee. All information is FREE. Unlike other investment property companies, we do not ask you to pay to come to a seminar, or join the 'buyers club'.

We charge a finders fee for each property, which is typically 2% of the property price plus VAT with a minimum of £2,000 plus VAT. In some cases we also receive a fee from the Vendor. Our sales prospectus for the property clearly shows any fees that are payable.

You should only commit to buying any property once you have carried out your own research, you're confident you can arrange the finance, all your questions have been answered and that your mind is at ease. If you are not 100% comfortable, we prefer that you DO NOT proceed. Visit How It Works for more detail.

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Yes. One of the reasons for the discounts is that the Vendor can save costs by our having just one solicitor representing several purchasers. Our panel of solicitors are competitively priced, due to the amount of conveyancing they carry out for our clients.

Equally important is working with solicitors who can deal quickly and professionally as the 28 days timescale to completion requires experienced solicitors.

There are many technical differences between a buy-to-let mortgage and a residential mortgage. The two main differences are the loan to value and affordability.

Whereas with a residential mortgage you can typically borrow 90-95% of the value of the property with a buy-to-let mortgage you can currently only borrow a maximum of 75% of the value. Like a residential mortgage the amount you're able to borrow is also influenced by the ability to repay the loan. However, in the case of buy-to-let, your affordability is generally calculated by rental income and not your earned income.

Rental calculations vary from lender to lender. As a general rule, most lenders look for the monthly rental income to cover 125-130% of the mortgage payment.

IMPORTANT NOTE: Fast-Track Property is not providing financial advice regulated by the Financial Services Authority. All information provided has been obtained solely from our own experience of purchasing property and is provided as general information only. As such it is not intended for use as a source of investment advice. Before making any decisions based on the information provided, you should consult with either the specialist advisors we introduce to you, or take independent legal and financial advice.

Your Portfolio Manager is there to help you through the process in any way possible. In addition, we have a team of Sales Progressors, whose job is to help coordinate all parties to ensure that the exchange and completion deadlines are met as smoothly as possible.

As part of the service to you, we also source local letting agents before completion to give a kick-start to the process of finding a tenant for your new property.

Yes, absolutely. We are governed by the Data Protection Act 1998 and are mindful of the security of all personal data held. it is all treated with the utmost confidentiality. Your data will be provided to the mortgage broker and solicitor relating to any property purchase you may make. We will also send you regular emails with details of property and other related products.