The GetProperty service comes after research from the company showed 77 per cent of landlords felt the buying process reduced their investment appetite.
Four-fifths of the 1,000 landlords surveyed said at least one of their buy-to-let purchases had fallen through and 95 per cent said the costs of investing in property had risen over the last year.
Some 88 per cent said cutting the time to complete a purchase was important, while 71 per cent wanted better ways to source good property and the same proportion said lowering costs would improve the process.
How it works
The service brings different parts of the investment process together, including pre-approved mortgages up to 80 per cent loan to value, conveyancing services, limited company set up and annual accounting.
There are three packages available, including are the free ‘self starter’ option. This package gives users tips and access to service providers to cater to their needs. The ‘helping hand’ package costs £1,588 and brings together pre-approved mortgages, conveyancing and property management services.
The ‘peace of mind’ package costs £5,888 and covers mortgage broker and tenanting fees, as well as access to discounts on furniture.
It takes into account a landlord’s investment experience, their preferred property location, valuation bracket and target tenant demographics. It sources and filters investment opportunities by suggesting brokers, conveyancers, letting managers and furniture suppliers.
GetProperty then oversees the process allowing all parties to communicate openly and access information.
A convoluted process
Moubin Faizullah Khan, CEO of GetGround, said: “Buying investment property is a convoluted process made up of disconnected parts. It costs too much, takes too much time and comes with too high a risk of failure. It’s a failed system that’s hurting not just landlords and investors but the millions of people who rely on our private rented sector to be healthy, buoyant and active.
“GetProperty solves this. Whether a customer requires the education and confidence to invest, or signs up for our market-first packages of lending, conveyancing, incorporation and property management services, we’ll be there to make the experience better.”
He added: “GetProperty is a natural next step in GetGround’s development. With GetProperty we’re leveraging this network to offer the sort of one-stop-shop purchase experience landlords want but can’t find, in a way that generates leads for our partners and reduces time and expense for our customers.”
