Risk warning

The short version

The value of property and the income from it can fall as well as rise. You may get back less than you invest, and you may lose all of it. Past performance is not a guide to future performance. Nothing on this site is a guarantee, a valuation, or advice about what you should do.

Every figure we show is a projection

The returns on a deal are calculated from assumptions, and we publish those assumptions alongside every number rather than behind a link. Change any of them and the figure changes. Real outcomes differ from projections routinely, and usually not in your favour.

• The value after works is an estimate. It rests on comparable sales and on the works being completed to the standard assumed. A surveyor or a lender may take a different view, and their view is the one that counts at refinance.
• Refurbishment costs overrun. Ours is a considered estimate, not a quotation, and it is not a builder’s price for your specification.
• Timescales slip. Works run long, planning takes longer than expected, and a longer hold means more finance cost, which comes straight off your return.
• Rents are not guaranteed. A void, a rent arrear or a change in local demand reduces income immediately.

What the colours mean, and what they do not

A deal marked offer accepted or more left in has a price the vendor has agreed and we have confirmed at source. The two differ only in how much of your money the model shows staying in the property after the refinance — more than £20,000 is marked more left in. That is a statement about the capital the deal holds, not about how likely it is to complete.

A deal marked early has no agreed price yet. Its figures are our working assumptions, the vendor can change their mind or sell elsewhere, and the eventual terms may be worse than shown.

None of the three is a completed purchase: offers fall through, surveys come back badly, lenders value lower than expected, and vendors withdraw. In England and Wales nothing is binding until contracts are exchanged.

Finance is the risk people underestimate

• Bridging is expensive and short. If a refinance or sale is delayed you continue paying, and extension terms are rarely favourable.
• A lender may decline, may value lower than expected, or may offer a lower loan-to-value than assumed. Any of those leaves more of your own money in the deal than the projection showed.
• Interest rates change. A mortgage rate assumed today may not be available when you come to draw it.

Property is illiquid

You cannot sell a house quickly at a price you like. If your circumstances change you may be unable to exit at all, or only at a loss. Do not commit money you may need back on a fixed timetable.

Sometimes Stream is the seller

On some deals Stream owns the property and is selling it to you. In that case we are the principal, not your agent, and our interest is in the sale. We state this on the deal itself rather than in small print — but you should treat our figures on those deals with the same scepticism you would apply to any seller’s.

Verification is not a guarantee

When we say a deal is verified we mean we checked the specific things listed on how verification works, and recorded the basis for each. It means the deal is real and the numbers are ours honestly. It does not mean the investment will perform, that a survey will be clean, or that you should buy it.

Take your own advice

Stream is an acquisition team and deal sourcer. We are not financial advisers, we are not regulated to give investment advice, and nothing we say is a personal recommendation. Before you commit funds, take independent advice from a solicitor, an accountant or tax adviser, and a mortgage or bridging broker, and commission your own survey.

Tax treatment depends on your circumstances and can change. Stamp duty, including the additional-property surcharge, and the way a company purchase is taxed will materially affect your return.