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  • Mortgages & Finance

    Charting the landlord finance journey



    As we constantly state on Property Tribes, finance is the lifeblood of any property business.  Without it, you are literally dead in the water.

    Many people spend thousands on education, then go and invest months in determining their strategy, only to find that they cannot access financial products to achieve their goals.

    Therefore, a conversation with a reputable mortgage broker should always be the first port of call, before even looking at a property deal. 

    Getting the finance in place FIRST gives you clarity on what strategies you can undertake with your personal starting point and financial circumstances, and also puts you in a stronger negotiating position.

    At the Landlord Investment Show, we spoke to Daniel Standing of PT partner Shawbrook Bank, to chart the landlord finance journey and to find out how Shawbrook supports that:


    As mentioned in the video, Property Tribes Financial Services are here to support the PT community in getting finance for their projects, and the team can be contacted on 01206 654444.

    A reputable mortgage broker is worth their weight in gold and can support landlords in achieving their property ambitions.

    SEE ALSO  -          STOP! Don't pay for property education or mentoring until you have watched this!

    UP NEXT -             Graham Rowan's "Investment Fundamentals" blue-print to wealth

    DON'T MISS -         Benefits of using a broker for BTL

    NOW WATCH:


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    My advice is get the advice as soon as possible

    I am doing a purchase at present and the information your broker will need will be extensive

    You will make your broker's job easier and cause yourself less stress if you do a check list

    You really need a strong paper trail

    Once you have a decision in principle, you can then start your property journey

    As the scouts say - "be prepared" to jump through the hoops of lenders' requirements ...

    And be honest with your broker If you have CCJ or bad debts advise them of this too

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    Thanks for that valuable input DL, much appreciated.  

    So often we now hear "I never used to have to supply that.." or "why do you need this?" or "my old Broker never used to ask me for so much.." ...... but times have changed.

    As independent brokers, we can provide access to a huge range of lenders and products, and often many exclusive deals too.  But that doesn't mean that everyone is eligible for all of the deals out there.

    Sometimes we can secure a deal for our Client simply because we have all of the required information, supporting documents and background data, that then helps us to paint a 'real world' picture to our underwriter friends, and the war and peace case study that we provide to them, then helps the banks to say yes.

    Nothing is hidden really anyway, but the more we can present upfront without the banks uncovering info during the process, the quicker the 'right' decision be made.

    It is a two way thing though, we can only help if the borrower discloses everything upfront, is clear with their intention, does not bend the info provided to suit criteria, and is quick and forthcoming with all requested details.

    As Brokers, we are working with you to help you achieve your current objective, and your future aspirations too.

    #teamwork


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    FOR INDEPENDENT MORTGAGE AND INSURANCE ADVICE

    PROPERTY TRIBES FINANCIAL SERVICES

    http://www.propertytribesfinancialservices.com

    http://www.propertytribesfinancialservic...contact-us

    CONTACT US FOR LIFE INSURANCE QUOTES AND STRATEGIES.  PORTFOLIO MORTGAGES (VARYING TERMS) COVERED

    MULTI CREDIT REFERENCE AGENCY REPORT, IN ONE DOCUMENT HERE.

    http://www.propertytribesfinancialservi...statement/


    It's certainly important to be as up front as possible with your broker.  But I also think it's worth mentioning that a skilled and experienced broker will often be prompted to ask borrowers for further information when their experience tells them to probe further whereas a less able broker may just take everything at face value and then run into problems further down the line when more info comes out of the woodwork.  The performance of the broker is key to swift and successful applications.

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    Do brokers charge a fee these days or just take the fee from the lender, I havent used a broker for a number of years now but I read somewhere that a lot no longer charge a fee
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    Slowly working towards financial freedom


    It varies, I think some brokers still routinely charge fees, others don't.  We normally don't, we can usually rely solely on payment from the lender.

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