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sijfish

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Everything posted by sijfish

  1. Also looking in the Leeds area. How did you get on @amardeep sidhu?
  2. Hi @alexanderrw nice to hear from another Singapore based expat. There are quite a few of us on here, many more experienced than me! I'm just about to (fingers crossed) complete on my first BTL in Leeds using an expat mortgage so happy to trade stories. It's been a 4 month journey chatting with all number of so called expat advisors, marketing agents and mortgage brokers. But I can attest it is absolutely possible to (1) buy in an area of the UK you are not familiar with (I'm from Dorset and have never been to Leeds) and (2) do it from 7,000 miles away (if you've never been to the area, its pretty much immaterial how many miles away you are!), with the right amount of research of course!
  3. Thanks Derek, interesting read. Would be interested to hear stories of the claim and arbitration process. Haven't seen any yet...
  4. Anyone heard of this? I spotted it on a listing recently. From what I can gather it seems like an insurance based alternative to taking a 6 week deposit, where the tenant pays a non-refundable 1 week rent (insurance premium), in return for not having to put down a refundable (at risk) 6 week deposit. Meanwhile the landlord gets free rental/damage insurance cover for up to 8 weeks rent (where they previously only had 6 weeks and had to deal with deposit protection and arbitration etc.), and the agent takes a commission. In the event of a claim the company takes the role of final arbiter between tenant and landlord at no expense to the landlord. Sounds rational, assuming the economics of the business model are sustainable and you trust the claim/arbitration process. I’ve not gotten as far as reading the T’s and C’s. Anyone else come across this? https://reposit.co.uk/letting-agents/
  5. Great to hear lots of us in similar shoes. There should be an expat area of the forum, if not already? And a Singapore meetup :-)
  6. Hi @onkar, thanks. I did have a mortgage decision in principle at time of reservation. However, admittedly I knew practical completion was just around the corner and certainly not 4 months. I'll pin that on noob naivety. Reservation was beginning May, so by the agent's timeline exchange should be June and I expect practical completion in July. Now I know I can't exchange before mortgage offer, so it's not a question of risking the deposit but rather hoping the lender comes through in time and/or the vendor is lenient. I can't be the only buyer in this situation with the backlog of applications lenders must have at the moment (as @ahmed i says). Here's hoping!
  7. Thanks @ahmed i. No this is an off plan purchase coming to practical completion soon, so the vendor is a developer. The agent's terms and conditions stipulated a 28 day timeline to exchange from receipt of contract. I'm managing expectations on the agent side so I can only hope they are doing the same with the vendor.
  8. Hi there, I'm purchasing my first BTL. I have a mortgage decision in principle from my broker and put a reservation down. Conveyancing is underway and legals are with solicitor. I'm advised timeline for exchange of contracts (with deposit) is 28 days from receipt of contract from the vendor, which is in a few weeks time. Meanwhile the full application for my mortgage is underway, but taking a bit of time under present circumstances. Any advice on what I should do if I don't have the mortgage offer by the scheduled date of exchange? Thanks in advance!
  9. Hi @davida, I’m a first time investor and also an expat, in the process of arranging lending for my first investment. I second above, I think you’re going to need to find an expat lender to get your friend’s name on the title. It’s somewhat of a niche market but there are a handful of expat lenders and brokers out there who specialise in exactly this scenario. I think credit history will depend on the lender’s policy, some focus on personal affordability (income, credit etc.) while others hone in on rental valuation of the property. Let me know if you need any help with brokers who specialise in expat mortgages, they’re best placed to advise on lending options in your particular circumstances.
  10. Hi @rookiep, will have to be fully managed for me. I don’t have family or contacts in the growth cities I’m focussed on and I need to be as remote and hands off as possible. Early days for me because I’m still completing on my first but I did ring around lots of local estate agents when doing my initial due diligence and there are 2-3 I feel comfortable dealing with on the letting and management side. Let’s see... only time will tell! Would be interested to hear from other expats who manage out as well.
  11. P.S. @andy rafter one more in development in Kristall regeneration area I just saw, might be of interest to you
  12. Hey Stevie, I’m in a similar boat. Not in aviation and living in Singapore but am a first time investor none the less and doing it 100% remote. Also in low cost funds and want to supplement with property. About to go in for my first purchase, pending mortgage offer now. I’m weighting more towards capital growth so have picked slightly higher value properties in city centres at the sacrifice of yields. Good luck to you mate, would be interested to compare notes as we go. Where are you in the process with researching your first?
  13. Hi Andy, How did you get on? I was also in the same boat recently with Leeds - aside from Victoria Riverside there’s a couple of off plan builds in Holbeck and and another recently completed in Meanwood. Let me know if you haven’t seen them already, happy to share.
  14. Nice to “meet” you. Also British based in Singapore (BBIS?), originally from the South (Dorset). Will be taking the plunge with my first BTL this year, looking at the NW. Which areas are you guys focussed on in the UK? Do you do everything remote or you have help back home? Simon
  15. sijfish

    Intro

    Hey Anil, I’m in the same boat. Also Singapore based and looking at the North West for my first purchase. Nice to meet you! I also like the look of Leeds where you can still find central 2 bed flats under 200k. At the same time, Greater Manchester is worth a look if you buy into the “ripple effect” of price inflation from city centres. There’s some interesting options in commuter towns like Preston and Bolton. How’s your search going? Simon
  16. Hi Kent, Neil, It was nice to stumble upon this thread, I’ve been in Singapore for 6-7 years. Now looking to make my first property investment (also a first time buyer) in the UK. Also know HK well. How do you guys approach sourcing? Do you look primarily for new builds through marketing agents, or buy from the local market remotely? I don’t have much of network to fall back on back on in the UK, I’m also from the South (Dorset) but currently looking at new build opportunities in the NW (Manchester, Birmingham, Leeds, Liverpool). Simon
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