Purchases

It depends on your choice in which your background plays a part. So does your risk appetite. The way of financing the same is usually cash purchase or mortgage. You should invest in category-3 properties as you get maximum capital gain. Later, you should also invest in categories 2 and 1 in a mix-and-match fashion for optimum gains.

Cash purchase means payment of the entire investment amount in week 12 (completion date) of the purchase process. But it is generally advisable to buy via mortgage of 2 or 5 years. Landlords go for remortgage in most cases.

Purchase can be either by personal name or by way of a new Ltd company. The tax structure will be different for both scenarios, with higher interest rates for an Ltd Company. If one of the partners is in a higher tax bracket and the other in a lower bracket, you should buy jointly in a 99:1 ownership ratio. In either case, we take care of the entire process.

Whoever in a couple is in a lower tax bracket, buying in a personal name must focus on them. However, if their combined annual income is above £50,000 p.a., it is advisable to form a Ltd company as an SPV unit for the purchase.

There are three categories of property in Galaxy of Homes ambit:

Category 1 – investment £42-44K, price-£50-65K, rent- £450 p.c.m.

Category 2 – investment £46-48K, price-£65-80K, rent- £475-525 p.c.m.

Category 3 – investment upwards of £48-50K, price-£80K+, rent- £525-575 p.c.m.

In case of multiple purchases from us, the typical suggested property buying ratio (average) should be 2(category-3): 2(category-2):1(category-1). The rest depends on the buyer’s realities at the time of purchase.

We offer a Galaxy Discovery tour on weekdays where we show them our 10,000 sq. ft. office, meet and greet with our office members, and take landlords for a drive to show different types of properties, which are not refurbished, semi-refurbished, and fully refurbished along with their property as well.

Properties in the northern part of England are much cheaper compared to the southern and eastern parts of the UK. Rental demand is comparatively high in the northern part of the country compared to the other parts. Capital appreciation is also decent in the north, so people investing there will get a decent rental and capital yield for their investment to acquire the property.

Category 1 – investment £42-44K, rent income – high, long-term capital gain - low.

Category 2 – investment £46-48K, rent income – medium, long-term capital gain - medium.

Category 3 – investment upwards of £48-50K, rent income – medium, long-term capital gain - high.

The choice of category of property to be purchased will be on the above. Also, the purchasing power, risk appetite, mode of purchase, and funding determine a choice.

Yes

Yes, we certainly do. We currently have clients from Australia, Singapore, Hong Kong, UAE, Netherlands, etc.

We have a full-fledged India Office in Kolkata looking after our business. We have directors there who look after your needs if required.

If someone is uncomfortable in English, they can re-attend the webinar and understand it because the language is simple. If somebody still has difficulty understanding, they should attend the webinar again.

You cannot buy in your child's name unless they earn. You may add them in the joint name, but it is not advisable as they will lose the benefits for a first-time buyer and will not get the stamp duty exception.

Buy your Residential house (usually of much higher value) to get a good stamp duty exemption.

If you are not investing now, you are losing by 18%. If you are not investing now, your money will get hit by a 9% inflation rate and lose the capital and rental return of about 9% that could have been your return if you had invested in buy-to-let properties. So, to sum up, the loss of property return, and inflation will total up to 18% as of now.

If you put in a healthy deposit and have a decent income, you can borrow 75% of the purchase price. For example, if the price of a property is £60,000, the bank will lend you 75% of £60,000, i.e., £45,000.

Your parents can offer to help you with your deposit, which they can gift you as part of the mortgage process. The lenders will usually require them to sign a gift deposit letter. The family offset mortgage is where a parent or close family member puts their savings in an account linked to the mortgage. Here, it is best to discuss your options with a specialist.

Yes, the personal details of our clients are safe with us as we never share them with anybody external to Galaxy of Homes.

No, the deposit money must come from personal savings or LTD company transfer. It may also be gifted to you by your parents.

Yes, many of our buyers are from outside the UK. You do not need to visit a property at any time to purchase. Everything gets done efficiently and remotely. You can then have the income paid into your international bank account. However, people from overseas will not get mortgages in the UK.

When a deal is sent to the prospective landlord through WhatsApp to select and lock it, they will reply to the WhatsApp message, saying something like, ‘Please lock this deal for me/us/our company’. From there, we require the name, address, phone and email ID with £2100 as our 50% booking fee.

Even overseas people can establish an LTD company in the UK and buy properties under that company name. They will not get a mortgage because they lack a British passport.

Because there is no substitute for local knowledge and expertise when choosing or letting a buy-to-let property. We have been in the business long enough to have let most types of property on most streets within our marketplace. We know what is achievable and will select the right tenants for you to avoid costly and distressing mistakes.

It is generally not feasible because we follow a particular model which won’t work in the given situation. However, certain exemptions may exist in some cases.

No, in such cases, the person concerned is not eligible for a mortgage for locking a buy-to-let deal.