Do I have to source my own tenant?
Only if you want to. We can set you up with an ‘armchair’ investment that requires no work on your part. Our own dedicated lettings agents will take care of all the day-to-day issues, such as marketing the property, letting it out to tenants, issuing tenancy agreements, collecting the rent and dealing with day-to day-maintenance. The company has an excellent track record for maximising both occupancy and rental incomes.
Furthermore, a lot of the properties we source are already tenanted, so you’ll have an income-generating property immediately.
Is using a management agent a good idea?
Many of our clients have busy lives and don’t want the hassle of dealing with their investments on a day-to-day basis. If this is similar to you, then using a management agency can be a practical way of benefiting from the investment without having to spend your own time and effort.
Managed property offers an additional advantage. It allows you to invest in locations which are not close to where you live. Many of our investors live far from the developments and wish to take advantage of the higher yields offered in the Northwest.
All of our recommended letting agents are experts in providing full support. This allows you to enjoy a hassle-free return.
Who oversees the management of the property?
Esper Wealth uses several tested letting agents. Each letting agent is highly vetted for service and all client money is ringfenced to protect your rental income.
If in an unlikely event that you are unsatisfied with the day-to-day running of your apartment, you can select an agent of your choice, or ask us to source you an alternative agent.
What type of tenant will rent my property?
We work with developers who provide properties which are aimed at the professional market.
Esper Wealth sources opportunities in areas where there is likely to be strong capital growth. These areas are typically central locations going through a process of gentrification due to regeneration initiatives. Typically, tenants will be professional singles or couples. Our preferred letting agents recommend taking out insurance on each tenant to protect against any issue with payment. The underwriting requirements for this ensure all tenants are fully vetted.
Can I get a mortgage on an off-plan property?
Yes. However, as this investment is off-plan you cannot get a mortgage until the property is near to completion. When the time comes, as your property nears completion, our mortgage team will help you find the best mortgage to suit your specific investment needs. Before committing to purchase we will advise you on the likelihood of you obtaining a mortgage for your specific circumstances.
Which mortgage advisor should I use?
You are welcome to select any mortgage advisor of your choice. Although we recommend using our preferred partner, who will have an in-depth knowledge of the property and the products available.
Our preferred partner is a whole of the market provider, so will be able to secure you a great deal. This broker also has access to specialist lenders, who are willing to look outside of the box. So even if you have been unable to source mortgages through traditional lenders, there is still a good chance that they can help. Several overseas clients have found this service very helpful when trying to obtain a UK mortgage.
Up to what age can I get a mortgage?
You can get a buy-to-let mortgage until you are approximately 75 years old. This mortgage is decided by affordability criteria.
Do I need a solicitor?
We have a recommended panel of solicitors who are experts in dealing with off-plan property purchases. They are well positioned to guide you through the process and aim to make the purchase as smooth as possible. Because they have already done due diligence it results in a quicker and more cost-effective process.
Some investors prefer to deal with their own solicitor and this is also fine. At the point of reservation, you are given the choice to instruct your own solicitor or opt for the recommended one.
Do I have to pay any fees separate to my investment?
At Esper Wealth we have a policy of no hidden fees. Everything is designed to be transparent. We make our money direct from the developer, so you won’t pay any fee to us.
What investment would you recommend for me?
No two investors are the same. Each investor has individual wants and needs, and a specific attitude to risk. Our first objective is to fully listen to you so that we are clear on your specific requirements, so we can give the most appropriate advice to you.
As a company, we work alongside several professional companies including FCA regulated wealth advisors and accountants who can offer the best advice in terms of financial planning and tax advice.
Yield or capital growth?
Yield and capital growth are both important factors, and each investor has different priorities.
On an ongoing basis, it is the regular income that is important, as it’s this which will determine the day-to-day profitability of your investment, and service any mortgage debt if your property is mortgaged.
Capital growth becomes more important if you wish to sell or re-mortgage, but at that point, the gains can be substantial. Much, therefore, depends on your goals and investment strategy. However, there is no reason why you should have to choose between them. All the properties we propose to our clients have the potential to achieve good, sustainable rental yields, together with the potential to rise considerably in value over the medium to long term.
How can I be sure that the properties are really worth the values claimed?
It is a requirement that an independent qualified surveyor provides a true valuation of any UK property before a bank will commit to making a mortgage offer. Banks for their security, need to know the value of any property before they commit to development finance.
As a company, we get a valuation from a RICS qualified surveyor. This is the highest level of accreditation that you can get.
Where are the properties?
Through extensive due diligence, we identify what we perceive to be the very best opportunities for achieving high yields, with the potential for superb capital growth.
Currently, the majority of our recommended properties are located in the North of England, due to the favourable conditions, in investment hotspots such as Manchester and Liverpool.
How does Esper Wealth choose which developers to work with?
We do extensive due diligence on developers. We only work with established developers, who have a proven track record of delivering high-quality projects on budget and on time. For us, independence is key. By not being tied to one developer, we can put the needs of our clients first.
How do you find the best developments for investors?
We do extensive research to identify the best opportunities for our clients. This involves identifying the best cities in the UK to invest in, to deliver high yields, capital growth or a combination of the two. We do this by looking at trends, demographics and forecasts.
The next stage is to select the best areas of the city to invest in. At this point, we look into specifics, such as regeneration schemes and inward investment from the private sector, to find the best hotspots which are primed for growth.
The final stage is to look at the developers and their projects. Our investment committee only selects developments from established developers with a proven track record. We then secure the best deals for our clients from the developers.
How can you help me?
Esper Wealth offers property investment advice and information to customers throughout the world. Our clients can be individuals, couples, established landlords or Institutional investors. Our expertise is in identifying the best property investments through thorough evaluation and due diligence. We then carefully examine which option is the best fit for each person’s specific requirements.
Esper Wealth also helps businesses with property to sell. We act as a bridge between investors and the sellers of properties with good investment potential. We can help developers achieve fast sales. For developers, we can also help with bridging loans and development finance.
Where are you based?
Our office is located in Manchester and you are welcome to meet us in the office or on-site. Many of our clients prefer to contact us remotely and we are happy to arrange this if it is more practical for you.