The company has devised a ‘no cash down/no deposit’ scheme for buying newly built homes in the UK and overseas, making BTL more affordable for would-be property investors.
The benefits begin with the purchase price of property, where negotiation with new build developers secures discounts, creating an instant equity gain for clients. Then the customary deposit of 15 per cent - typical for a BTL mortgage - is also found by Asset Hallmark, in addition to solicitors’ fees, survey costs and stamp duty payments. The company uses its own independent financial advisors and solicitors to source opportunities and manage the buying process. It also offers after sales advice and services, including help with furnishing decisions, resale processing and rental management.
For its assistance, Asset Hallmark charges a finder’s fee of 3.5 per cent + VAT of the purchase price.
The ‘no cash down/no deposit’ scheme provides benefits for developers and buyers alike. The reduced amount of capital needed is an advantage over traditional mortgage methods, making the market more accessible to more people including first-time buyers and retired clients as well as existing home owners and business investors. Without the burden of up front costs, clients are more easily able to build a property portfolio if they wish.
Property developers are increasingly keen to work with investment companies such as Asset Hallmark as they provide access to a larger pool of potential customers and can speed up the buying process. In return, the developers are willing to offer discounts on the original sale price which can be passed on to the client.
Jay Parmar, director of Asset Hallmark, said: "Our mortgage scheme has been designed by established professionals with many years’ experience of property investment. We provide accurate information up front and keep clients fully informed at every stage of the buying process. Compared to paying the traditional 15 per cent deposit, there are huge savings to be made with no hidden costs."
The scheme is also being taken up in the Gulf State, where investors are keen to enter the UK investment market.
Hisham al Kurdi, managing director, said: "We have a strong group of investors, not only in the UK but in regions of the Gulf State, who wish to enjoy these opportunities for significant growth."
