Below Market Value finance - 5 Step process
To apply Click Here or call 08456 43 10 12
Step 1 – Find a property.
The first step is of course to find the property. If you are not sure what exactly what deals you should be looking for then please contact us and our experienced bridging specialists will talk you through it. When you have found a property that fits your investment criteria and you have performed your due diligience you are now ready for the next stage.
Step 2 – Qualify the deal.
Call one of our experienced advisors who will guide you through the different finance options of the deal. The key factors that affect the deal are:
· Value
· Loan Amount needed
· Rental
· Construction of property
Once the deal has been qualified, the mortgage product has been agreed we are ready to go.
Step 3 – Arrange the finance & legals.
At this stage you are in a position to instruct both the mortgage broker and solicitor.
Broker: Once the mortgage product is agreed your broker will submit a remortgage application based on the value of the property on your behalf and instruct the valuation.
At this point it is important that your mortgage broker can ‘package’ the mortgage application for you.
Solicitor: Instruct the solicitor to begin the conveyancing. You may use your own solicitor however Top Mortgage Solutions UK Ltd have proven solicitors who have the knowledge, infrastructure and experience to deal with the BMV process.
Step 4 – Arrange completion.
Top Mortgage Solutions UK Ltd have a dedicated team that track your deal to ensure the mortgage offer and legal works are being carried out in a timely fashion. They will coordinate your completion to make sure the necessary bridging funds are available.
At any point problems or issues occur you will have a dedicated case handler on standby to offer advise and assistance.
Step 5 – Completion.
The bridging funds are used to complete the purchase then the property is immediately refinanced with the arranged remortgage, and any equity balance is paid back to you after the agreed legal and bridging costs.
Your home may be repossessed if you do not keep up the repayments on your mortgage.
Top Mortgage Solutions UK Ltd are independant mortgage advisors and as such offer mortgage advice from the whole mortgage market place. We may charge a reduced fee of up to 1.00% of the loan amount, as we are paid fees from lenders. However, we will offer you the option of paying our full fees which are 1.5% of the loan amount and you will recieve the procuration (commission) fee from the lender.
Top Mortgage Solutions UK Ltd is an Appointed Representative of Mortgage Next Network Limited which is authorised and regulated by Financial Services Authority in respect of mortgage and insurance mediation activities only. Mortgage Next Network Limited is entered on the FSA register (http://www.fsa.gov.uk)
under reference 300866.
Below Market Value - Invester Mortgages