Newspaper article Manchester Evening News

Buy-to-Let in Just a Few Clicks

Newspaper article Manchester Evening News

Buy-to-Let in Just a Few Clicks

Article excerpt

ANCY becoming a buy-to-let investor in rental hotspots of Manchester and Liverpool? FA new online platform is aiming to make it easy for anyone, anywhere in the world to become professional landlords overnight. In just a few clicks, potential investors can buy a 'move in' ready property within minutes.

Under Dot Residential's model, the business offers a complete wrap-around service for would-be landlords.

Dot bulk-buys properties at a discount from developers and furnishes the apartments to 'boutique hotel' standards.

Dot requires investors to provide a 30 per cent deposit and finances the remainder itself with what it calls a Dot Instant Mortgage.

The property is then held in a special purpose vehicle (SPV) approved by accountancy firm EY and investors receive rent while the company organises the purchase, lettings, and property management process.

"We are taking the hassle out of what can be a time consuming process," said Gray Stern, co-founder and chief executive.

Stern has experience in working on the lending side as the founder of London-based buy-to-let mortgage lender Landbay.

He said: "Over the years we have witnessed how diluted the buy-tolet market has become for people to invest in good quality properties.

"Not only does it take time, but there are the legals, financials, and tax changes to contend with, and if you're a new investor it can be very onerous."

He continued: "The buy to let market is becoming more professional and this means there is an opportunity to provide investors with a suite of tools that they will need to invest like a professional investor.

"Our platform allows people to do that all online.

"We want to provide the best ecommerce experience when buying a property and this is what makes it attractive to many people."

Dot Residential started life in London but moved to Manchester last year because it could not find suitable apartments in the capital that could be let profitably. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.