LEKS GROUP LTD is looking to expand its existing letting portfolio by venturing out of London and this time buying a property in the high-tech booming city of Cambridge. In order to increase the profitability of this project, LEKS GROUP LTD is partnering with TFGcrowd to raise the necessary funds here.
Why is LEKS GROUP LTD borrowing the funds through TFGcrowd?
LEKS GROUP LTD is keen to expand its existing letting portfolio by adding another location to it – this time in the tech-booming city of Cambridge. To take advantage of the financial incentives a seller may offer to buyers, who are “cash” buyers, buying without arranging a mortgage, LEKS GROUP LTD is partnering with TFGcrowd to raise the necessary funds here. They are looking to raise 357’500€ (minimum target: 200’000€) to buy a property-to-let in central Cambridge. For your investments the company is offering to pay 17% interest rate per annum to all their investors, to be paid out for the 12-month loan term.
Interest rate payments start calculating from the day you make your investment!
The following pledges secure the loan:
• A pledge on LEKS GROUP LTD
• A personal guarantee of the Borrower’s Shareholders & CEO
• A Guarantee of the Borrower
The loan is offered with the BuyBack Guarantee. If the borrower is late with the repayment of the loan, TFGcrowd will compensate the investors both the invested principal amount and interest, as well as pay the accrued interest after 60 days of delay.
Cambridge is widely recognised as a global tech, and business hotspot, with over 4,500 high-tech companies employing nearly 75,000 people there. The CB1 area in Cambridge, with its close proximity to the train station, from where you can catch a 45-minute train into central London, is at the heart of this tech-company boom, with giants like Amazon and Microsoft claiming a base here, alongside high-profile finance, engineering and property professionals including Deloitte and Mott MacDonald.
Limited supply of properties to buy and high property prices mean that a large part of the city’s professionals opt to rent their accommodation rather than buy it, therefore demand for rental properties in the CB1 area of Cambridge is at an all-time high.
The LEKS GROUP LTD is a company that has already established itself as a permanent member of London’s buy-to-let market with two mortgage-free properties to let in the central W2 London area, which it has successfully managed for over 2 years already. It is now looking to expand their operations to Cambridge by acquiring a property in the lucrative CB1 area to rent out to their clients.
Considering the fact that arranging a mortgage in a bank can be a lengthy process, sellers in Cambridge are often keen to offer a financial incentive for buyers, who have money readily available and are buying their properties without a mortgage. LEKS GROUP LTD is keen to take advantage of this by borrowing the funds on the TFGcrowd platform for acquiring a new property in the short term and once the property will be acquired, it will proceed with arranging a mortgage in a bank, going through that lengthy process already after they have the property in their ownership. This way they will be able to acquire their next property to let at a lower price, making their business calculations more favourable and gain the added benefit of lower interest rates on mortgages, once they arrange re-financing of the TFGcrowd loans.