Finance Your Investment

i.lands® Limited is not a mortgage or finance broker, but realises that many clients wishing to get into the property investment market do not know how to finance this opportunity. It is no where near as difficult as you may think. However it is absolutely vital to get professional advice before making this very important, and exciting, step. The following example will give you a flavour of what you could expect on a typical investment opportunity;

The example is based on you purchasing at least 2 apartment's in a single block. It is based on the property being a 2 bedroom apartment in the Greater Manchester area.

Example: As an investor you will be looking to purchase "off plan", which means the property is not yet built, but for that you can expect a discount of upto 15% off the asking price. This discount does not take into consideration the potential increase in value from the time you reserve the property to the time you actually buy it, which could be several months. Mortgages are generally available, subject to status, of upto 85% of the purchase price and do not normally require proof of income, but are based on rental income alone. Even investors who have experienced difficult financial times in the past may still be eligible for these types of schemes. Interest rates depend on the product and lender but are generally very competitive.

Most investment apartments have a purchase price of around the £90,000 - £120,000 range after discounts. However there is no limit to the purchase price of a property should you wish to "buy big". However, always remember that the rental income does not generally increase substantially just because the property is worth more. The equity however generally does, the choice is yours!

Timescales and Payment Schedules

Day 1
Reserve property - usually between £250 - £1,000 per property depending on type, price etc

Day 28
Exchange on Property - usually between 5% and 10% of purchase price.

Upto 12 Months later
Complete on Property by payment of balance of the purchase price (less payments already made).

Always remember that each investment is based on its own merits and every aspect of the purchase should be carefully considered. If you are interested in knowing more about ilands' present investment opportunities, simply contact us and a member of our senior team will contact you.