Terms and Conditions

 

We undertake due diligence on all the deals that we promote to ensure availability of investments and authenticity of the information provided.

 

To avoid a conflict of interest we do not own the properties we promote and therefore the information on which we base our assessment of properties are mostly provided by the selling agent/source. We cannot accept responsibility for any misleading information provided via the agent/selling agent.

 

We will research the local rental market to provide you with update information for supply, demand and rents achieved for the area.

 

Yield is calculated as a percentage of annual rental income compared to asking price. Annual rental income may be determined using real or estimated (based on local comparables) rental figures.

 

The financials are approximate guidelines to enable you to reach an educated decision; these figures will be confirmed by your surveyor, broker and solicitor.

The Ahuja Group fee will be paid in FULL upon reservation.

 

No payment will be processed until the availability of the deal has been checked. We will then process your payment and make the introductions to the selling agent /source.

 

It is your responsibility to:

 

· Provide the appointed mortgage broker with your personal financial information within a 72 hour timeframe for them to successfully complete a decision in principal with a suitable lender.

· Ensure you have funds available to complete on the property as deals are reserved on the assumption that you have sufficient buying power/financial/credit worthiness.

 

1. The estimated value of the property is based on our research of past prices achieved, estimated current prices being achieved for properties of similar type, location and condition. Please remember it is an estimate and is in no way an indication of what a Chartered Surveyor would value the property at. We advise any would be purchaser to make their own enquiries to ascertain whether our estimated value is reasonable before they instruct a RICS survey. We do not accept liability for survey costs failing to reach the indicated market value. The survey cost is based on the median price of what lenders charge for a property of the type, size and value in question.

 

2. The rental income is based on our own research into the local housing allowance rates (LHA) and market rent. If let to a LHA claimant on full entitlement the achievable rent would be: £tbc. This is based on the prevailing rate of the (LHA) rates for this current month. If let to a private tenant not in receipt of housing benefit then the rent achievable would be £tbc This is based on an average asking rental price found on Rightmove and in discussion with local letting agents. We advise to let to an LHA claimant who is entitled to the maximum housing benefit as per their circumstances i.e. if the property is a 4 bedroomed property we recommend you let the property to a LHA claimant entitled to 4 bedrooms. This will be based on the size of his or her family and the certain age and sex of their children.

 

3. The BMV discount is stated as the discount negotiated relative to the estimated value we have given the property.

 

4. The yield is stated as the annual rental divided by the estimated price less the BMV discount.

 

5. The total capital required is an estimate of what we think you will need to purchase this property. It is an estimate only and we suggest you make your enquiries to how accurate these figures are based on your own personal circumstances.

 

6. The monthly profit figure calculated is the gross profit you can expect to achieve. This is calculated as the rent less the mortgage cost.

 

7. Every effort is made to make this property report as accurate as possible however we cannot be held liable for any losses as a result of any investment decisions made from relying on this report. Due diligence should be exercised at all stages including obtaining a survey from a chartered surveyor, performing local authority searches, visual inspection of the property and full investigation of the title of the property by a solicitor.

 

8. In accordance with the Property Misdescriptions Act 1991, these sales particulars are for general guidance purposes only. They do not constitute or form part of an offer or contract. No structural survey has been carried out. All photographs and descriptions are given as a guide only, and must not be relied upon. Lease details, service charges and ground rent (where applicable) are given as a guide only and should be confirmed by your solicitor.

9. The Ahuja Group fee is required to receive the full contact details of the source/agent who are selling the property. Source/Agents are defined as the party whom we have

 

agreed the sale of the property and where applicable a 3rd party fee may be requested upfront to secure the deal.

 

10. The deposit required to purchase the property is calculated using what we think is the most suitable mortgage product available at the time. We are not mortgage brokers so please see this figure as an indication only. Our recommended IFA/Assigned Broker will be able to give you a more accurate figure. We suggest you contact them to determine your eligibility to obtain a mortgage before you commit to buy this property.

 

11. The monthly mortgage cost is based on a tbc% Loan To Value buy to let mortgage being obtained at a borrowing rate of tbc%. We suggest you contact our recommended IFA/Assigned Broker to get a more accurate figure as the mortgage you can get will be based on your own personal circumstances.

 

12. The broker/survey fee is to be paid on request from the assigned Financial Consultant

 

13. We stipulate a time frame of 72 hours for a Decision In Principle (DIP) to be completed for mortgage purposes. If the deal is withdrawn because of delay in completing the DIP you will lose your sourcing fee. (Subject to broker availability)

 

14. We expect all information given by you to be truthful when disclosing your financial details to the broker involved with this transaction. We do not work with any brokers that we believe are not 100% honest when making a mortgage application. It is your responsibility to ensure the solicitor acting for you applies full disclosure when handling your property transaction.

15. We negotiate some deals on the basis that the buyer will pay the vendors legal fees excluding disbursements. The legal fees are an estimate and depend again on complexity. The legal fee stated excludes disbursements such as land registry fees, CHAPS, searches and VAT.

 

16. The bridging fee is the fee paid to a bridging loan company which is the total fee including arrangement fees, interest and application fees.

 

The percentages/amounts at clauses 2 and 12 will be completed only when these terms and conditions are attached to a specific property/opportunity that has been sent to you.

 

Refund Policy

Please note that if you are an individual user and you acquired products and/or services for your personal use (i.e. not for business purposes), you may cancel your purchase from us and obtain a refund, provided that you do so within 7 working days after the day you received an order acceptance from us for your goods or services. You may exercise this right of cancellation by contacting us using any of the following methods.

Email
Fax
Telephone
Letter

We will not offer a refund under any other circumstances. If the purchase fails to complete and it is proven not to be your fault we will source a similar replacement property. You agree that what is a similar replacement property will be determined by reference to yield and bmv only. We cannot guarantee that any other criteria will be met. For the avoidance of any doubt we will not offer a refund or a replacement deal if you delay completing your mortgage application or decide to withdraw due to changes in your circumstances.

 

We cannot make guarantees you will exchange on the deals reserved, but our facilitator will endeavour to do everything possible in order to keep the deal alive.

 

These terms and conditions shall constitute the entire agreement between you and us and you acknowledge that no statements or representations made have been relied upon by you in agreeing to enter into the agreement. You acknowledge that these terms and conditions have been read and understood and that you have had an opportunity to take legal advice upon such terms and conditions.