Castle Residential Services Ltd specialise in sourcing distressed sale properties in up and coming areas at well below market value in order to ensure clients have immediate equity in their purchase.
Castle have over 30 years residential investment experience and local knowledge combined and still feel that there is no better time to get involved in “buy-to-let” property, especially in the North East of England where significantly low property prices coupled with relatively high rents create yields that are not achievable elsewhere.
One of the main reasons for our continued success is the transparency of our buying process. Castle have a policy of ensuring our investors have piece of mind when investing and subsequently adhere to the following key points when sourcing and refurbishing our clients investment.
- Castle supply pre-purchase independent valuations on every property we source. They are arranged by independent F.R.I.C.S qualified high street chartered surveyors who service blue chip financial institutions and lenders (Nat West, RBS etc.). Valuations show a pre and post refurbishment valuation and also list the essential works that are required. This process ensures that the value of the properties purchases exceeds the purchase price, thus giving “built in equity” from the onset.
- Castle complete refurbishment work on your property within a “contracted” timescale. Refurbishment is carried out by our contractors who have been rigorously vetted having the quality of their work continually assessed. Following completion of the refurbishment all investors receive a ‘property pack’ including the following information.
Original independent valuation report
CP12 (gas safety certificate)
Electrical safety certificate
Damp course guarantee (if relevant)
Post refurbishment digital photographs
Surveyor’s re-inspection certificate, which confirms the value of the property and that all refurbishment work is complete within the legally binding contracted timescale.
- Upon completion of refurbishment Castle introduce investors to a panel of independent “specialist” managing agents. Castle do not manage property, we feel due to the geographical areas we cover we would not be able to offer the standard of service a locally based company would. We allow our investors to select a suitably vetted company from a panel of managing agents. On average the managing agents charge 10% for their services
