One problem that often occurs when one is buying BMV is that the surveyor, clever chap or chapess that he or she is, decides that the price you are willing to pay is the actual amount the property is worth, whereas in fact you are relying on what you are buying being at least 18% below market value.
There are some companies appearing now who package the whole deal and are most likely to find a surveyor who is sympathetic to what you are doing. Of course, nothing is guaranteed. But there is more chance of getting a deal by using one of these firms.
Some of these companies, also, will take a hefty percentage on the bridging loan and the mortgage deal. Not so The Buy to Let Business. Their aim is to complete everything as quickly and as easily as possible and at minimum cost to the investor. They have a solid programme of training for their agetns which keeps them all on the ball.
Another snag can be that a company can be just as unrealistic as some of the wannabe landlords / property investors, and can lead to inexpereinced landlords not generating enough cash flow. I have a very strong feeling that this particular company will act with integrity. I base that decision on having met two of them at last week’s Homebuyer and Property Investor Show. Let’s hope I’m right.
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