Rent to Rent | Millionaire Young

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Finance Application – Sales

I understand that if this application is successful the money will not be paid directly to me. YesNo I confirm that this loan will only be used for property purposes in relation to the details provided on this application. YesNo I understand that if my application is successful and I do not fulfil all the terms set out in this agreement, further action will be taken and I will not be able to use this service again. YesNo Your Name * Your Address * Your Contact Number * The Property Address * Purchase Price * Total Fees / Refurbishment Costs * Estimated Sale Price * Total Profit * Private Sale? * YesNo How much do you want to borrow? * Over how many months? * Are you able to give any security besides a contract? * If so, what security can you provide? If someone in your family is a home owner, can we put a charge on their property? YesNo Have you borrowed money from the M.Y pot before * if yes: How much did you borrow? Was it paid back in accordance to the terms agreed? How much is the property worth? * Is it on the market? YesNo Has there been any offers? YesNo Please give two links of comparables or two addresses of other properties that have sold nearby in the last 6 months Have you asked some local Estate Agents? * How long similar properties have been on the market for? Also how long it has taken them to sell other similar properties recently? if no, please do How much will they stamp duty be? * Have you got quote from builders for the cost of refurbishment? * YesNo How much have you estimated the legal fees to be? * How much have you estimated the legal fees to be? * How much have you estimated the Estate agency fees to be? * How much will the finance cost? * How much profit will be in the deal after all costs are taken into account? * Is it a delayed completion? If so, for how long? * How much have you agreed to pay upfront? * Can you contribute to this? * YesNo How much will the mortgage be per month? * How much can you rent the property for per month? * How much cash flow will there be per month? * How do you plan to pay M.Y back? * How can you be sure the money will come back at the planned time of exit? * If the property is valued at 10% less then what you planned at the point of exit, would this affect your ability to pay the loan back. If so, what would you do? * If M.Y provided the money would you consider doing a Joint venture where you split the responsibility, risk and profit? * Attach a copy of your scanned driving license * Attach a copy of your scanned ID card *