TotallyBuy

General information

香港及中國客戶可聯繫(852)93014495 或 totallybuyhk@gmail.com查詢有關資料。

So you’re thinking about buying a property?
That’s great news and the start of a very important process. However, before that journey can get going we need to know what you’re looking for in this purchase. “Easy” you might say “to buy the best property I can with the money available and make the best investment decision I can”. Whilst that’s true there are some questions that need answering before we can help you find the property that’s best suited to your aims. So here goes. Have a look at our simple questions and make a note of what’s most important to you in the property you hope to purchase?
.
1. Are you looking for a quick return on selling the property?
2. Is a high rent return on your investment important to you?
3. Are you looking to maybe live in the property yourself one day?
4. Is a rent guarantee from a reliable letting company important?
5. Are you looking to hold the property for a period of more than 5 years?
6. Is the area in the U.K. you chose particularly important to you or you’re willing to consider areas that give you the best returns?
7. Are you looking for a new build property?
8. Would you consider reserving an ‘off plan’ property and securing it at today’s price but with the possibility of enjoying a price rise before it is even built?
9. Are you particularly interested in the student market and only want property near universities?
10. Are you in interested in flats or houses?
11. Would you consider either?
12. Are you looking to buy more than one property?
So now we start to see the picture forming and armed with this information we can recommend particular properties for you. Let’s look at the questions above and the pros and cons.
1. Quick returns
Generally to make money out of property you need to be willing to hold onto it for a little while. Most markets have fluctuations and its hard knowing when to let go. Our experience is that in an upturning market a 5 year hold of a property is a pretty realistic time to maximise your return. Of course you can sell your property at any time. That choice will always be yours.
2. Rent returns
Whichever way you look at it buying property for investment only works if someone wants to rent it and then ultimately buy it. It’s not just about finding any tenant but finding the right tenant. Our staff have experience of letting property as well as property sales for over 25 years in all most areas of the U.K. We take all the precautions we can to get you the best rent and the best tenant. More than that though, every property we sell is offered with a 3 year renewable rent guarantee. This means that the rent quoted (although below the full market rent) is what you will get every month regardless of whether the property is occupied or not.
You are of course still liable for the main structure of the building, windows, doors, and plumbing (although we take care of any necessary essential maintenance) and we even arrange the cleaning, but you get a set figure every month paid into your bank account.
If you are a U.K. tax payer then the full amount is paid to you, if you are an overseas client then the tax is deducted at source and the balance of the rent is paid to you. There is an amount of money you can offset against this to ensure you get the maximum rent but we will have one of our licensed financial advisors discuss that with you when you begin to make your purchase.
On this note please be aware that many companies quote rental returns that look wonderful but do not take into account the deductions for maintenance or for your tax liability (if you have one).
So the question was how to maximise rent returns wasn’t it? Our affiliated letting partner, TotallyLet, manage a number of properties that are beautiful houses offered to tenants as ‘Shared Houses’. These aren’t your typical student house but a lovely family home that is adapted to suit sharing professionals. The rents they pay for each room make these properties a really lucrative rental opportunity. Rental returns can often be more than 30% greater than houses let to just one occupant. So remember to look out for the term ‘HMO’ (House in Multiple Occupancy) on our property list and grab yourself a high rent yield property.
3. Areas of the U.K.
Most overseas investors first of all look at London or maybe one of the other major cities. Whilst these areas offer lots of choice they also come at a substantial premium and the cost of purchasing in these areas is often prohibitive for most U.K. residents. That’s something you need to consider when re-selling a property.
TotallyBuy sources property all over the U.K. and can find you a property in any area you request but of course prices fluctuate throughout the country massively. That is why we have established major contacts in many vibrant cities and towns to the North of the U.K.
These areas offer great returns and rental yields for your investment but are also carefully chosen to offer a good ‘exit’ strategy for when you sell the property.
Here is one such area to think about:
Hull, East Yorkshire
Hull is a coastal City with a population including surrounding areas of approx. 350,000 people. It has a strong rental history and has seen massive recent regeneration. It is only a short distance to Manchester, Leeds and Liverpool and an even shorter mileage distance to Holland.
Recently Hull was awarded the prestigious ‘City of Culture for 2017’ award and is expecting worldwide interest throughout this period. It has a busy marina with around the world shipping events taking place. Additionally, Hull and the Humber River estuary is about to become one of the world’s leading renewable energy sites with billions of pounds of investment already committed to the region by major companies including Siemens.
Property prices in this area start for a good quality traditional 2 bedroom property at around £70,000 GBP and rent for this type of property around £400 - £450 per month.
Hull has an impressive university with a strong Chinese student population. Our trading partner TotallyLet manages a number of shared houses within walking distance to Hull University.
We cannot recommend this area enough as a potential investment hotspot….

4. New Build property
We work with a number of listed developers who are prepared to reserve property today for developments yet to be concluded. This can have the benefit of securing a sale price before the property has been completed and enjoying any increases without added cost. We would be happy to discuss reserving such a property in one of our key areas throughout the U.K.

5. Looking to spread your risk?
We recognise that you may wish to buy more than one property but have a limited budget to work with. TotallyBuy offers an innovative new option where you buy shares in a property. It’s a simple idea where you select how much of a property offered under this system and buy accordingly. You may see one property that catches your eye and want to own 70% of it, but also have enough funds to buy 20% in another and so on. We call it Brick-Buy-Brick. It’s your way of being involved and invested in a wide spread of property.

So what does it all cost?
Unless you complete a purchase you pay nothing. If you reserve a property and through no fault of your own it doesn’t complete (rarely does this occur) you pay nothing and any reservation fee paid is returned in full to you within 14 days.
If you do complete a purchase this is what it’s likely to cost you:
*Agency fee to take the property you chose off the market £1,000 GBP. Non-refundable if you change your mind. Refundable if it doesn’t complete through no fault of yours.
*If the property is below £125,000 GBP there is no stamp duty to pay above this figure but below £250,000 there is a tax of 1%
*Solicitors fees to complete transactions are included
*The purchase price of the property
In total:
Agency fees of £1,000
Stamp Duty if applicable
Total cost to purchase is £1,000
Please note some companies ‘absorb’ these fees by inflating the price of the property…We don’t.

The Process
1. Once you have registered your details with us we will give you a list of available property. Property is selling quickly right now so it’s important you don’t delay to avoid disappointment. We will send you are full report on the property and the rental guarantee that is available.
2. As soon as you have decided which property best suits your needs we will ask you to complete by email a simple but binding reservation form and to pay by bank transfer or credit card the initial agency fee. You will be required to pay 20% of the purchase price on reservation, 30% 14 days later and the final balance within 26 days. As soon as the full amount has been paid then the property will be transferred into your name.
3. The property will be transferred to your name and once the final agency and tenancy transfer fees have been paid then your rental account will be established and rents will be paid to your account.
4. Our letting partner will send you regular updates as to the condition of the property along with images along the way. You are welcome to visit the property at any time, by appointment, and we allocate a designated member of staff who will be your point of contact at all times.
Remember, buying a property is relatively easy, buying the right property for you from the right company for you..Well that’s where the good judgement is required. We believe that we are hopefully not just selling a property to you, but maybe to your friends, your family and their children too.
Thank you for reading and if you have any further questions please do not hesitate to email info@totallylet.com