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Rex Consulting UK was established in February 2010 to provide service based solutions to our clients. During the past few years we have identified that our clients very often need consultation in the United Kingdom. We understand that it is of great importance to offer a service where our clients feel that they can communicate their day to day issues with regards to their Bulgarian investments with our experienced British Consultants backed up with our team of experts in Bulgaria.
Our approach is founded upon the principles of professionalism, involvement and flexibility. We believe in personal contact with our clients and employees. Our team of administrators and consultants are focused around providing exceptional customer service on time, first time every time.
Please contact Mrs Sarah-Jane Goldbourne on sarah_jane@rexconsulting.com for a free initial consultation or an informal discussion.
We are able to represent you in Bulgaria with regards to facilitation from Asset Management to assistance with a resale.
Our clients vary from investors that require assistance for the end of year tax returns, to large corporate company restructures and asset management.
Please see below a list of some of the current services we offer, for a full quotation please do not hesitate to contact Mrs Sarah-Jane Goldbourne on sarah_jane@rexconsulting.com
- Mortgage account/debt Management ( Liaising with the lender and reschedule of debt);
- Superbly priced Insurance policies and renewals ;
- Asset Management;
- Property Management;
- Legal services to include negotiations with developers and lenders;
- Tax planning;
- Accountancy services;
- Acquisition;
- General inward investment consulting.
This product has been designed to assist both the end user clients and developers alike with regards to providing a solution where firstly mortgages have been withdrawn making it almost impossible to purchase with flexible financing options. Obviously from the your point of view the ideal solution is that 100% of the sales price is derived, however we believe that offering an upfront payment with ongoing monthly instalments is certainly the next best solution. What this allows a new investor to do is to secure the property at today's deflated prices, pay an upfront amount to you and settle the balance over a period of time to be agreed.
As a vendor we will work with you to design a product that is bespoke to your Real Estate. For example what the minimum amount of upfront payment that you would like to receive is, how much interest you wish to charge and the term of the contract. These amounts can be negotiated dependant on your individual requirements.
Does the title deed get signed over to me immediately?
Yes. The Real estate must be transferred at the notary public as with any other standard transfer of title. This is signed at the same time as the deposit is received by you, however to protect you further we place a charge on this property in your favour until all repayments have been received. Part of creating your bespoke lease product entails deciding what the default period will be. Should the buyer default we are prepared to represent you from a legal position.
Initially we recommend that you provide our legal team with a power of attorney providing them with the right to sign the required documentation, including any relevant paperwork regarding your client defaulting. It also allows us to lift the charge that we place on the property in your favour once the balance has been received in full.
What if the new buyers default on the repayments of the lease?
In short you have two options at this point, you can either apply through the courts to cancel the notary contract (Title deed) that was signed and the property will be repossessed by you, or you may apply for a writ a execution through the court. Your case will be handed to a judge executive who will facilitate a public sale of the property with the proceeds or sale being paid directly to you. There is an option through a public sale to repossess your property, however each contract is bespoke and our legal team shall advise you accordingly should the need arise.
There will be court fees to pay in both of the above instances. Should you decide that you want to repossess the property, you should allow approximately 5% of the outstanding balance of the lease, plus our fees that will vary between E1000- E1500 per case dependant on the bespoke details and the location of your property. If you decide that a public auction is more appropriate you should allow approximately 3% plus our fees that remain the same in both instances. We will apply for your court taxes to be returned.
Part of the legal process states that your client must sign a contract with us that covers the term of the lease; we charge £ 200 per annum to them directly for this service. It allows us to track and follow their monthly instalments and issue late payment notice. Equally when they sign the lease contract, they must sign over a power of attorney to our legal team allowing them to sign any legal papers that are required under Bulgarian legislation, to include a public sale and cancelling the notary deed.
Do I have to go to Bulgaria?
No. We have a network of UK notary's that you may attend to sign over a power of attorney for our legal team to represent you for the purchase and any other legal issues that need to be covered.
Can I sell my property with a lease if I have a current mortgage?
Yes you may. However, we have to receive permission from your lender once you have secured a buyer, and of course the debt to the bank has to be settled in full prior to transfer of title being authorised. There is a £ 500 surcharge for this service based on having to use Escrow accounts for the transfer of the funds, and the additional legal work involved.
What happens when I have received all of the payments?
As above we lift the mortgage in your favour.
Fees
Upon Appointment
Design of the lease product, production of your contract £ 600.
50% of the legal and arrangement fee £ 425 (Payable once you have secured a buyer).
UK notary charge for your Power of attorney and articles 264 and 25 and shipment via courier to Bulgaria £ 300 (Payable once you have secured a buyer) this also includes formal legalisation at the foreign and common wealth office in London. You do have the option to travel to Bulgaria to complete these documents which may save you additional costs dependant on flight availability and hotel prices.
One week prior to completion
Final 50% of the legal and arrangement fee £ 425. If the property is located more than 100 km's from Either Sofia or Varna we will apply a fuel surcharge.
Now UK based we believe that we can not only offer you exceptional services, but equally you will find our fees are very competitive. We are currently offering a one hour free consultation in our London based office. To book an appointment or make a general enquiry please email:
Mrs Sarah-Jane Goldbourne on sarah_jane@rexconsulting.com
We thank you for taking the time to read this and look forward to working with you in the future.
We have recently engaged the services of Rex Consulting UK for an independent valuation and board recommendation report.
It was a pleasure to work with Sarah-Jane, a British consultant who clearly has an in depth knowledge of the Bulgarian Real Estate market and innovative finance solutions. Her report was professional, accurate and timely.
Balkan Holdings Ltd highly recommend their professional services, we will certainly endeavour to engage Rex Consulting UK again in the near future to assist us with our business moving forward.
Please do not hesitate to contact me for any additional information.
Chris Northam
Managing Director
Balkan Holdings Ltd
Rex consulting UK is currently in the final stages of restructuring a large company involving numerous UK and Bulgarian stakeholders on our behalf.
Throughout this process, Rex has proven themselves to be professional, knowledgeable and thoroughly helpful. In particular, Sarah-Jane's personal drive, organisational skill and ability to convey complicated issues to a wide cross-section of clients and service providers has enabled an effective plan to be conceived and executed swiftly and efficiently.
Based on this i am happy to recommend Rex unreservedly.
Robert Lucy MBA
Managing Director
Claremont Prime
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