Got your message Julian. If you would like to be added to my mailing list please drop me a quick message with your contact e-mail address to simon@mcsinvestmentproperty.co.uk.
We are looking at properties mainly in Walton, Orrell Park, and Kirkby at the moment but if any come up in Skem I will let you know.
Remember that under normal circumstances (the straight mortgage route) you will now need to put down a minimum 15% deposit and this can be more depending on the rental income so your suggested initial minimum investment required on our current properties is likely to be in the region of £25k - £40k. This is the down side of the credit crunch and the general tightening up by the mortgage lenders. The good news is that we are seeing some good deals coming through and this additional up front cash goes straight into equity in the property.
We currently have 4 freehold houses available in Liverpool which have been offered to us in the past week, none of which are available on the open market. All are excellent leads from trusted sources (two are 15% or more BMV verified by surveyors reports) and all already tenanted on AST's.
Funds required are between £31 - £40k per property which amounts to a 30% deposit (roughly) in each case.
If you can put this much down you avoid some hefty fees, mortgage lenders will welcome you, the property pays for itself ongoing, and you have some decent equity from the start which gives you a nice financial cushion and also allows for future drawdowns if required. This is a more expensive option initially but less stressful and we have found that most of our clients prefer to do things this way. (The idea behind it is never to leave yourself too stretched!)
Properties transactions always go through our company solicitor and the purchase price to you will be the same regardless of how you choose to finance things. We will always provide you with a set of realistic figures for each property on which to base your decision, although of course you should undertake your own investigations as well.
All the properties mentioned above are tenanted already so nice and easy to take over but MCS will also provide new AST's at no charge. If you would like us to we will take care of any maintenance issues and provide ongoing property management if required (additional fees apply). We can also recommend mortgage brokers, and solicitors based in Liverpool and London with whom we have excellent working relationships.
Our website is on the way but in the meantime please e-mail me as above in the first instance. This message is intended to be read by all as a general reply as we have had several people contact us with similar requirements. Hopefully this will answer a few questions.
Best regards
Simon