I have recently attended a few BTL shows in the UK looking at the posibility of introducing a new market for anyone who is uncertain or low on funds.
Basically, we offer BTL landlords an option to purchase new-build contracts on overseas properties.
An example
Polaris World in Spain - Total value for a 2 bed golf apartment is 95,000GBP
It has 12 months till completion and the present contract owner has paid 40% -36,000GBP with the balance to pay in June 2009.
The owners will accept 8,000GBP for the contract, saving the buyer 28,000GBP.
There is an automatic low-cost builders mortgage at the end.
Quite a cheap way to enter the property market at present.
The buyer can either sell the contract on at a profit or BTL at the end.
As UK BTL landords, what is your opinion of the scheme?
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