This document defines our key ‘Terms of Engagement’ and outlines the services that we offer and the basis on which we can provide these services. For us to proceed with your investment, you should read this document carefully, along with our ‘Privacy Policy’. We require that you sign this document to confirm your agreement of these terms.
Company background and information
Property Investor Partnership exists to source the very best property investment and alternative investment opportunities in the UK. We consistently seek to provide a professional and innovative service to our agents and clients. The investment opportunities that we source and sell to our clients are not regulated by the Financial Conduct Authority.
Definition of an Investment - a property or investment that is purchased with the objective of achieving capital growth and/or making money.
Our Service to You
We work closely with some of the UK’s leading property developers to provide investment property and alternative products that are suited to an investor’s requirements.
We can provide one of two services as described below:
- We will make a recommendation for either a property investment or an alternative investment, after we have assessed your needs and requirements. We will explain how your investment may rise as well as fall and potential areas of vulnerability, whilst also highlighting the areas of potential growth.
- You have not received advice or a recommendation from us. We may ask some questions to narrow down your selection of investment propositions that we will provide details on. You will then need to make your own choice about how to proceed.
Property Investor Partnership has chosen to work with several key property developers and alternative investment companies and in doing so, act as an intermediary for them in terms of marketing their investment propositions.
Every investment opportunity goes through extensive due diligence prior to marketing. However, we cannot predict the future, and therefore we are not responsible for any economic downturn that may affect the value of your investment. Nor are we responsible for anything which could affect rental returns, such as rental voids, or any additional expenditure, including charges relating to ground rent and management fees (if applicable) together with any subsequent consequences ensuing.
The Process
In order to assist us in finding a suitable investment for you, we use a 3-stage process:
- We will discuss with you your current financial position and future aspirations, before identifying and proposing suitable investment options that fit your investment criteria and attitude to risk.
- Once identified, we will introduce you to a property, or alternative investment and provide you with relevant investment overviews, brochures, supporting documentation and the corresponding reservation or application form. The form will include the purchase price or alternative investment amount, a description of the property or alternative investment opportunity and the amount (where relevant) of the non-refundable reservation deposit. We will also provide you with details of the amount of our fee (if applicable) and who is liable to pay it.
- If you decide to proceed with the purchase of a property or alternative investment, you will need to sign the relevant reservation/application form and return it to us with the reservation deposit or investment funds within a timely manner.
What will you have to pay for our services?
Property Investment
For all property sales, we charge a Discovery & Processing fee for the services we provide, the amount of which will be made clear to you. This is our payment for sourcing and securing quality properties that should deliver long-term income and wealth. In addition to the high levels of attention and service you will receive from the team at PIP, we work extremely hard behind the scenes to bring you below-market property with high yield potential, together with the following detailed below:
- We source and negotiate at board level with key developers, to gain one-off investment opportunities for our clients.
- You will have access and receive advice on the most suitable buy-to-let mortgages through our specialist mortgage advisors.
- You will be introduced to Solicitors who specialise in investor properties.
- We provide you with guidance and support throughout the entire purchase process, monitoring every aspect along the way.
- As well as securing you a discounted letting fee, we will help you find your first tenant through our nominated letting agent, keeping in touch with them in the run up to completion and we continue to keep in touch until a suitable tenant has been sourced.
Alternative Investment
We currently do not charge any fees for our alternative investment opportunities.
For any investment, PIP may receive a marketing allowance from the investment provider.
Terms of Engagement and Client Agreement
Our relationship with you
Our role is to bring to your attention investment opportunities, which we believe offer either short or long-term investment potential. We will advise and guide you through the process and where necessary, refer you to our business partners regarding other areas relating to your investment.
We work as an intermediary between developers and our clients to negotiate and secure suitable investments. However, we do not act for the developer and therefore do not take responsibility for any delays, changes or additional charges made or imposed by the developer within their contractual agreement with you. This includes any delays with regards to legal exchange or completion.
You may instruct us to cease to act for you at any time. Your instructions must be in writing and will only be effective at the end of the business day on which they are received. Unless any statutory cancellation rights apply, you will be responsible for paying any fees owed to us up to the time your instructions for us to cease to act become effective. This also extends into any other associated costs including legal and mortgage related fees.
What are your obligations to us?
We can only advise you based on the information you provide to us. You agree that it is in your best interests to, and that you will provide us with, comprehensive information about yourself and your personal circumstances. It is in your and our mutual interest that your instructions are as clear and accurate as possible.
You will complete and return accurately, in full and in a timely manner any necessary documentation required to process your investment transaction. Should there be any changes in your circumstances that could affect your investment or ability to invest, you must notify us immediately.
Property Investment
In order to secure your property - we require the return of your completed forms within 48 hours of issue, together with your fees paid in full. Failure to return these promptly could result in the developer selling the property elsewhere.
After reservation has taken place, it is your responsibility to instruct your solicitor promptly, by signing and returning their letter of engagement and paying the agreed sum on account, to commence the conveyance process. If you are purchasing your investment property by way of a mortgage, we require that you provide all necessary information to your mortgage advisor, to ensure there are no unnecessary delays for either the mortgage process and/or the legal process.
If for any reason, you decide that you do not wish to proceed with your purchase, you will lose your reservation fee, which is non-refundable, and you may lose up to 100% of any fees that you have already paid for the property, which includes our Discovery & Processing Fee. You will also be liable for any legal and mortgage costs incurred.
In accordance with the Misrepresentation Act 1967, the Consumer Protection from Unfair Trading Regulations 2008 and the Business Protection from Misleading Marketing Regulations 2008, the information provided by us regarding an investment property does not form part of any contract.
While the information provided has been prepared in good faith, all and any such responsibility and liability are expressly disclaimed by Property Investor Partnership and its agents. Any investor must satisfy themselves by inspection or otherwise as to the accuracy of any information given. Any dimensions are approximate and may vary depending on internal finish, and are subject to detail design, building regulation approval and all statutory permissions. Images provided will have been sourced from the developer. However, they may be of the show home property and not the actual property being marketed. Therefore, all images should be viewed for illustrative purposes only.
As the landlord, you should be prepared to be responsible for additional extras not included with your property, to ensure your property is ready for tenancy. Where possible, PIP will always endeavour to negotiate key ‘extras’ into the purchase price. However, this will vary from development to development. We will always make you aware of what is included with your property and what you are required to provide. These additional extras will be detailed within our marketing literature.
To manage your expectations, we would usually suggest you allow approximately 2-3 months to secure your first tenant. Although we would expect that your property is rented sooner than this. However, we would recommend that you factor this eventuality into your upfront costs.
Alternative Investment
We cannot invest your funds until - we are in receipt of your investment funds in full, together with your signed documentation, proof of identity and proof of address. Delays by yourself in providing your funds and supplying this information will impact on when your funds are invested and therefore, when your interest will start to accrue.
There will be a capital raise period, which can take up to 3 months. Your investment funds will be held securely during this time and you will accrue interest at the rate as outlined within your application form.
All alternative investments go through a rigorous and detailed legal process. Upon legal completion you will be issued with your certification and further confirmation of your investment terms. Once legal completion of your investment has taken place, you are bound by the investment terms and cannot withdraw your funds prior to the redemption of the investment.
Complaints Procedure
We are committed to providing a professional service to all our clients and customers. When something goes wrong, we need you to tell us about it. This will help us to improve our standards.
If you have a complaint, please put it in writing, including as much detail as possible. Details of where to send your complaint are as follows.
Property Investor Partnership
Creation House
7A Alkmaar Way
Norwich
NR6 6BF
T: 01603 268083
E: info@propertyip.net
We will respond to your complaint in line with the timeframes set out below. If you feel we have not sought to address your complaint within eight weeks, you may be able to refer your complaint to the Property Ombudsman to consider without our final viewpoint on the matter.
What will happen next?
We will send you a letter acknowledging receipt of your complaint within three working days of receiving it, enclosing a copy of this procedure.
We will then investigate your complaint. This will normally be dealt with by the office manager who will review your file and speak to the member of staff who dealt with you. A formal written outcome of our investigation will be sent to you within 15 working days of sending the acknowledgement letter.
If, at this stage, you are still not satisfied, you should contact us again and we will arrange for a separate review to take place by a senior member of staff.
We will write to you within 15 working days of receiving your request for a review, confirming our final viewpoint on the matter.
If you are still not satisfied after the last stage of the in-house complaint procedure (or more than 8 weeks has elapsed since the complaint was first made), you can request an independent review from The Property Ombudsman without charge.
The Property Ombudsman
Milford House
43-55 Milford Street
Salisbury
Wiltshire
SP1 2BP
T: 01722 333 306
E: admin@tpos.co.uk
W: www.tpos.co.uk
Please note the following:
The Property Ombudsman requires that all complaints be addressed through our in-house complaint’s procedure, before being submitted for an independent review.
You will need to submit your complaint to The Property Ombudsman within 12 months of receiving our final viewpoint letter, including any evidence to support your case.
Disclaimer
Property Investment
By entering this contract, you acknowledge that Property Investor Partnership does not claim to have any specialist knowledge or expertise as
to future prices of property.
If you decide to purchase any property investment introduced through Property Investor Partnership, you confirm that you have not relied on any advice as to the future value of that property.
You confirm that we act as an intermediary between you and the developer and that once we have introduced you to a property you have purchased and supported you through the purchase process, we have no further liability to you. From that time onwards, your dealings will be with the developer and your letting agent direct.
Alternative Investment
By entering this contract, you acknowledge that the length of the term of your Investment is based on the developer’s finance predictions and may be subject to some necessary adjustment. As such, you also acknowledge that the actual investment term upon redemption may end up being slightly longer or slightly shorter. We in turn will keep you informed of any updates regarding your investment.
Data Protection
In accordance with the General Data Protection Regulation (GDPR) and our 'Privacy Policy (Download)', we will store and use any personal information about you to process your investment transaction. This information may be made available to certain third parties such as solicitors, developers/developers’ agent, mortgage advisors, insurance advisors and our internal auditors.
