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BMV Property Purchase ~ The Process
 
We work hard with property agents to bring to you BMV opportunities within the UK and Overseas typically up to 40% below current market valuation.  You may therefore, be confident there is significant equity in your property at outset. Also, many UK properties are residentially tenanted providing immediate rental income.
 
Unlike traditional High Street or auction purchases, your deposit may be paid for you.
 
Unless you are fully conversant with the responsibilities of being a landlord, we recommended you engage a reputable letting agent local to your acquisitions.
 
10 Simple Steps To Buying Our BMV Deals...
 
1. PROPERTY ALERT ~ Register to receive Property Alerts so you get the newest property as soon as it is released.
 
2. RESERVING A PROPERTY ~ To reserve a property, simply 'Log-in' (or 'Register' if you are a first timer), click 'More Details' of the property that you want, then click the 'Reserve' button beneath the Financial Breakdown & Particulars and follow the reservation process on-line [if you have a challenge, call 01275-846662 for assistance]. Our £250 reservation fee is payable through Paypal or credit/debit card following acceptance of our terms of business, which we encourage you to read.  You may also take advantage of Investor Tools (located by the Reserve button) to carry out due diligence.
 
3. YOU ~ Reserving a property tags it on the available property listing on the website and you will receive an email copy of a Mortgage Data Capture (MDC) form for completion on-line and return by email (or you could fax 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 telephone you to confirm your reservation and, if you wish to purchase with a mortgage, will obtain your permission to undertake a 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agent that packaging fees, with the possible exception of survey fees, are refundable if the property is subsequently withdrawn.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 the mortgage is agreed in principle with the lender, a full mortgage application will be required, forwarded to you by the mortgage broker.
 
6. SURVEY ~ A mortgage is based on a confirmed valuation and rental assessment. The lender will instruct a surveyor and you will pay the surveyors fee and the lenders administration fee usually from any packagers reservation fee already submitted. These fees are not usually refundable. If the property is marketed as Nil investment, purchasing fees are refunded following completion.
 
7. SOLICITOR ~ As a dedicated Solicitor and Mortgage Broker is instructed on your behalf, it is not normally possible to use your own.
 
8. COMPLETION ~ The aim is to exchange/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.
 
9. DEPOSIT ~ If the purchase requires you to make a deposit, 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.