New Expat Buy to Let Property Search Agency Opens

LONDON, ENGLAND, November 03, 2010 (Press-News.org) A new London based property search agency focused on helping expatriates of all nationalities to build a buy to let London property portfolio has launched today. Expatfindaproperty.com offers clients the full range of property search services from the development of an initial shortlist through to sourcing expatriate mortgages and conveyancing solicitors.

With over 15 years experience in the rental sector, the Expatfindaproperty.com management team can advise clients on all aspects of the rental process, including sourcing and project managing builders and arranging lettings agents.

Launched at a time when property prices have recovered strongly in many parts of London, director Erica Evans believes that now is a good time for buyers to carefully add selected buy to let apartments to a portfolio. Erica Evans comments, "With rental yields in high quality Westminster apartments touching 5% recently, the new buy to let investor can assemble a portfolio which is cash flow positive from the outset, as expatriate mortgage rates are still at sub 4% levels."

The London property market has stunned many with its resilience to the downturn which affected many parts of the UK in 2008-2009. Greater London house prices are, according to the UK Land Registry, within 3% of their level at the start of 2008. Volumes too have recovered to near identical levels, having dropped to their lowest point at the end of 2008.

Expatfindaproperty believes that accurate local knowledge is the key to building an efficient buy to let portfolio in this market. Evans comments, "Average prices can hide a multitude of sins, as an average cannot give a buyer an accurate picture of what is happening in a narrow postcode range. Our service comes in to its own because we are able to supply highly localised price information for the buyer to see and compare values. Moreover, we always visit properties before adding them to a client's shortlist and we give detailed advice on the quality of the location itself, something which is usually missing from an estate agent's presentation."

According to Evans, many buyers simply do not appreciate the basics of the market and they assume that an estate agent will be there to help them to buy. Contractually, the estate agent works for the vendor, which is why many overseas buyers should have a buyer's agent to look after their interests in the transaction.

Describing a recent project in central London, Expatfindaproperty was able to negotiate a price reduction of 6% on a one bedroom luxury apparent in a block opposite a government building in the heart of Westminster, more than saving the cost of all of the agent, legal and refurbishment fees. The apartment was refurbished and repainted according to the client's brief and let to overseas tenants based in London in under 48 hours.

Evans ends, "The overseas buyer faces many difficulties competing with locally based landlords. We are here to help even out that balance and can offer a full suite of services which the client can dip into and use according to their experience and requirements."

For more information on UK property search for expatriates and overseas residents, visit http://www.expatfindaproperty.com or call +44 (0) 20 8333 9125

For further press information:
Jenny Duffy 020 8333 9125
Email: jenny@nacelle.co.uk