Hi,
Our Latest offer to our subscribers is our best yet. We have been waiting patiently for the right property to utilise this new finance that is on the market. Finally it seems WPI have full control of a deal which is very attractive for investors and offers them something that is simply head and shoulders above anything else at the moment.
Please note: These are not new builds that aren’t mortgagable, they are all second hand quality units in a prime location.
We have 6 of each of the below options, 12 in total. Option 1 is made up of 3 units generating high yields, where as option 2 offers 4 units giving a much greater capital return.
- Option 1 – £10,000 + VAT (£2,000 Cash Back on completion)
3 units @ 30% Discount
Value £390,000
Equity £115,000
Price £270,000
Yield 8.9%
Mortgage £1,600
Rent £2,000
Cash Back £2,000
- Option 2 – £15,000 + VAT (£5k cash back on completion)
4 units @ 30% Discount
Value £665,000
Equity £200,000
Price £465,000
Yield 7.9%
Mortgage £2,700
Rent £3,000
Cash Back £5,000
- Larger purchases available, please call to discuss.
Additional fees:
- Valuation fee (£350 approx)
- Legal fees (These are standard conveyance purchasing costs which will be very competitive due to volumes)
Finance Details:
Private Funding
3yr Fixed rate @ 6.49%
70% LTV (Based on valuation)
100% Rental Coverage
Discount fully disclosed
No deposit needed
No provable deposit
No stamp duty
Fees only payable once a full DIP has been approved by the lender, this usually takes 48 hours. The fees are payable direct to the lender as an upfront arrangement fee WPI will need a £1,000 refundable reservation fee.
We will refund if:
- The DIP is rejected
- The property is not delivered
- The property down values to a level we cannot perform
We will only not refund if the client pulls out through no fault of ours.
The address of these properties will only be released once we have a financial commitment as we do not want the address to be banded around the market by people who aren’t serious buyers. We are 100% confident that the address will be a benefit to this scheme rather than a hindrance.
The only risk on this site is the valuation fee. If they come back too low we will not be able complete and the clients will lose the val fee. We have had 2 RICS valuations so far this year
Next Step:
- Reservation fee paid via credit card to WPI
- DIP completed
- Valuation (fee needed from client for this)
- Fee paid to lender for finance
- Conveyancing
- Completion
Please feel free to ask any further questions!
