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Showing results for tags 'Off Plan'.
Found 17 results
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I am currently looking at my first investment and considering off-plan The unit is very nearly finished. How is the exchange payment/deposit paid? Do I need to have that cash spare or can it be paid from my mortgage? Would appreciate any help!
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I'm looking at investing in an apartment in Liverpool, being sent lots of off plan apartments for the Baltic Triangle area, whats everyone's thoughts on over supply? Never been to Liverpool but looking at Google and going round the Baltic Triangle area there doesn't appear to be much there? Is there a high demand for apartments in this area given that it looks like an industrial area with the odd nice bar/restaurant? Has anyone worked with RW Invest or Elite Realty Invest?
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Hi, i'm a first time BTL investor. I would really appreciate views on whether this is a good investment. 1 bed flat £150k in Saxton Lane, Leeds LS9. It's off plan development to be completed Q3 2022. Rental yield 6.5%. I'm interested to know if Leeds as a whole is worth while and particularly this area of LS9 which is a 17 min walk to the station. Plan is to keep the property for 5 to 10 years. I've heard growth in Leeds is expected to be 3.2% p.a is this correct?
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off plan Viability of off-plan deal in decreasing market
Helene Schwartz posted a topic in Legal Advice
Hello! I have exchanged last year on an off-plan deal (completion estimated Q1 2021), 10% deposit paid in escrow. I am conscious that buying off-plan is especially profitable in a rising market. I have 2 questions if anyone can help: 1. I am concerned that I will struggle to get a mortgage next year if property price take a dive and the property is valued less than the agreed price. Is this likely and if so, what would happen then? 2. My solicitor has suggested to include a rider to “mitigate the consequences of being unable to complete the transaction due to covid-19”. Is this worth it? Thanks in advance! Helene -
Hey fellow Hubbers! Looking at some property in Sheffield and came across a development called The Fitzgerald by developers called PBS Group Ltd. The numbers seem to stack up really well and as this is phase 2 of the apartments, I have direct comparables for both rent and purchase prices which is great. It would be off plan with completion around October 2019. The only question I have really is about the developers, I have not heard of them, I have of course done all the normal googling and cannot find anything bad about them. Just wondering if anyone has worked with them or purchased from them before? http://www.pbsgroup.co.uk/ https://thefitzgeraldsheffield.com/ Looking forward to what you think? Many thanks Alex
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Hi all, My partner and I are first time buyers and looking to buy an off plan property in the South East. The developer is asking for a 10% deposit now and a further 10% 3 months after our solicitors have received the legal pack. The scheme is being developed by the local council but being sold by a developer. I have been told that only the initial 10% is protected by "checkmate warranty" (I am yet to research this any further) and I do feel somewhat comfortable paying the additional 10% deposit as the money is not going to a developer who could go bust. But can anyone shed any further light on this for me? Has anyone ever been involved in a scheme like this? Or have any advice regarding paying a council a large sum of money? (I don't think a council can go bust can they?) Whilst this is mainly a home for us to live in I am buying with capital growth in mind as there is a significant amount of investing going into the area, great schools, fantastic transport links to Oxford and London etc. Any advice and/ or comments are welcome. Thanks in advance.
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Hello all, I am recently been looking at some new build flats that are being constructed in Liverpool. I have also been looking through companies such as RW Invest. Just wanted to know if any one on here has brought an off plan property? If so what should i look out for? Do you guys think a new build is better than an older property? Any advice would be much appreciated.
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Hi all, Just joined the property hub after becoming addicted to the ever helpful podcasts! I'm after some advice or thoughts on buy-to-let properties in the Manchester area. This will be my first investment property and due to current situation will need to be very hands off. For that reason I've been looking at the mass of new build developments that are cropping up across the city centre and Salford (walking distance to city centre, i.e. Middlewood Locks). Does anyone have any thoughts on whether the amount of new build developments imposes a risk on both rental opportunities and re-sell later down the line? I'm looking for a property that has good capital growth potential and reasonable rental yield. Any advice would be greatly appreciated. Thanks, Hannah -
Hi, just a quick question. I am buying off plan at the moment. Completion due 1 year later. But exchange to be done in 28 days. My mortgage broker has adviced me not to exchange without a mortgage in place. Infact, they told me i cannot exchange without a mortgage in place. Is this true? I personally don’t think its true, as there are many people buying off plan. Second question is.... valuation of an off plan property? Nearer to the time of completion, i will instruct my broker to find me a mortgage. Which means, a surveyor will need to go to the property for a valuation. How can they do a valuation unless the property is completely finished? I have 2 months left for completion on another property, but the developer has said that the surveyor cannot do a valuation right now due to health and safety! My broker is now saying that i have to wait till completion, which again.... goes past the exchange date? Could someone give me some advice please. As i am buying 2 off plan properties for the first time and at the same time! One is due for completion a year later, one is due for completion 2 months later. Thankyou Kamil
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Hi all Does anyone have any experience good or bad with, or know of how Advantage new build warranty provider are considered? I'm currently looking at an off plan opportunity with MCR Properties and Advantage are the insurer so conducting some due diligence. https://ahci.co.uk/ Appreciate any insights hubbers may have. Thanks James -
Hi, I thought it could be worth sharing experiences of developers so that hubbers can share their feedback on off plan projects. Has anyone had any experience with MCR Property? - http://www.mcrproperty.com/ Thanks! James
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Hi, I'm looking for some advice for investing in property in Ickenham. I've come across a development called Harefield Place which I thought looked interesting: http://www.harefieldplace.com/ What do you guys think? It's close to London, good transport links and has a lot of land.
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Hi, I just need some critical advice on switching my property (off plan) to my company's names. I have invested in an off-plan property in the UK that will be complete in 12 months’ time. The property is currently under my name; however, I’m planning to set up a company to benefit from tax laws. All properties within this company will be buy-to-let and I won’t be drawing any funds for personal use but for reinvesting. I’m just wondering is this the most optimum solution for me? I have spoken to my solicitor and she told me if I was to switch the ownership from my name to the company’s name, capital gains tax will not be applicable (if the change is made before completion) and I will be able to use the ‘old’ rates for stamp duty as I don’t own another property. Has anyone ever dealt with a similar situation before? Any advice would be great. Thanks -
Hi, I just need some critical advice on switching my property (off plan) to my company's names. I have invested in an off-plan property in the UK that will be complete in 12 months’ time. The property is currently under my name; however, I’m planning to set up a company to benefit from tax laws. All properties within this company will be buy-to-let and I won’t be drawing any funds for personal use but for reinvesting. I’m just wondering is this the most optimum solution for me? I have spoken to my solicitor and she told me if I was to switch the ownership from my name to the company’s name, capital gains tax will not be applicable (if the change is made before completion) and I will be able to use the ‘old’ rates for stamp duty as I don’t own another property. Has anyone ever dealt with a similar situation before? Any advice would be great. Thanks
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Hi All, New to this. I am 23 from Northern Ireland, live and work in Dubai and recently bought an off-plan city center property in Birmingham. After graduating from University i secured my self a job in Dubai and have been here for 1 year. I have always been passionate about property and educated my self a lot about this industry (which i work in also) Can i just have your thoughts on this investment and future predictions of the Birmingham market: 1 Bed apartment - 550sf Fully furnished to a high spec Build completion - Q4 2017 Rental Package - guaranteed 5 years of rental income Cost - £120,000 (due to it being off plan this price is already 20% under current market value and not Q4 2017 market value) Rent per month - £750 Management fee - 8% Payment scheme - 30% deposit is covered over the build period through monthly payments by me. Mortgage (after build is complete) 70% - £350/month (predicted) Thanks, Eamon
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Hi All, I have put down a deposit for 1 bedroom off plan new build with Knight Knox to complete in Q1 2018 in Salford. All seems good, but being an amateur and this being my first I am somewhat lacking confidence and wondered if anyone knows of Knight Knox? I have researched Knight Knox on the internet but the reviews are a bit limited - anyone knows much about them or any experiences? I know of Barrett Homes, Taylor Wimpey, St George developments etc but first time I have heard of Knight Knox so be interested in hearing any experiences Many thanks Sav
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Can anyone recommend insurance companies that offer deposit protection for off plan developments. Rob mentioned this type of insurance to alleviate some of the risk with this type of investment but I'm struggling to find companies that offer it.
