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BMV Property Purchase ~ The Process
 
We work hard with many specialist agents to bring to you suitable property opportunities within the UK and Overseas at below market valuation (BMV).  You may therefore, be confident there is significant equity in your property at outset and unlike traditional High Street or auction purchases, you will only put in a fraction of the usual funds required.
 
Unless you are fully conversant with the responsibilities of being an investor/landlord, we recommended you engage a reputable letting agent local to your acquisition(s).
 
10 Simple Steps To Buying Our BMV Deals...
 
1. PROPERTY ALERT ~ Register on our website to receive Property Alerts receiving the latest property details as soon as it is released. You may also subscribe to SMS Text Alert for Advanced Notification for your preferred regional target area(s). This is especially useful to you when away from your emails as you may immediately telephone us for information.
 
2. RESERVING A PROPERTY ~ For your convenience, the system is fully automated. To reserve a property, simply 'Log-in' (or 'Register' if you are a first timer), click 'More Details' of the property that you want to reserve, then click the 'Reserve' button beneath the Financial Breakdown & Particulars, following the reservation process on-line [if you have any challenge, call 01275-846662 for assistance]. Our £250 reservation fee is payable through Paypal or acceptable credit/debit card following acceptance of our terms of business, which we encourage you to read.  Prior to reservation, you may also take advantage of Investor Tools (located next to the Reserve button) to carry out your own due diligence. This links you directly to the particular street via MapGoogle, for map and satellite pictures and UpMyStreet for neighbourhood comment.
 
3. MORTGAGE DATA CAPTURE ~ Reserving a property will tag the listing on the website and you will receive confirmation by email with a link to download/complete/return a Mortgage Data Capture (MDC) form on-line, or you could fax return to 01275 843058. We must receive the completed MDC within 12-hours or your reservation may not be held.
 
4. LISTING AGENT ~ The property listing agent will normally telephone you to confirm your reservation (sometimes it is the Mortgage Broker) and obtain your permission to undertake an immediate Decision in Principle (DIP) with the lender.  Details of a valid credit/debit card capable of crediting the packagers reservation fee, possibly up to £2,000, will be required.  Be sure to agree with the agent that packaging fees, with the possible exception of survey fees, are refundable if the property is subsequently withdrawn. We recommend you obtain a copy of their terms of business (even by email) before parting with large sums of money.
 
5. MORTGAGE APPLICATION ~ Once your mortgage is agreed in principle with the lender, a full mortgage application will be required, forwarded to you from the mortgage broker or completed over the telephone.
 
6. SURVEY ~ Apart from your ability to service the loan, a mortgage is based on confirmation of valuation and rental assessment. The lender instructs a surveyor and you will pay the surveyors fee plus a lenders administration fee usually, which is usually deducted from any packagers reservation fee already submitted. These fees are not usually refundable. If the property is illustrated as Nil investment, purchasing fees are refunded following completion.
 
7. SOLICITOR ~ A dedicated Solicitor and Mortgage Broker is instructed on your behalf.  It is not normally possible to use your own.  Any balance of fees, as illustrated on the website, are invoiced and must be settled at Mortgage Offer and are not refundable.
 
8. COMPLETION ~ The aim is to exchange and complete on your purchase on the same day within 6-8 weeks of the date your mortgage application was submitted to the lender. You may not be able to apply for another Buy-to-Let (BTL) mortgage during this time if you have three applications in simultaneous progress.
 
9. LENDER DEPOSIT ~ Any required funds must be with the acting Solicitor prior to completion.
 
10. SATISFACTION ~ You may be contacted from time to time by any party in the process including Lender, Solicitor, Mortgage Broker and Property/Estate Agent.  To avoid unneccessary delay, it is essential you act promptly to any request from involved parties.
 
Property Angels International will endeavour to keep you informed throughout the process liaising with all parties as required.