As previously mentioned, mortgage brokers are qualified to assist in sourcing and securing possible finance for an investment property purchase. They usually have a panel of lenders with which they are accredited to offer lending options for prospective borrowers.
Their role is to assist the borrower to understand their eligibility to borrow money responsibly, by comparing many lending options and making recommendations based on the borrower’s needs and goals. They prepare and submit the loan application paperwork and handle the process on behalf of the borrower to secure an unconditional loan offer from a lender. The loan documents are then provided to the borrower to review directly or via a solicitor and then executed and returned to the lender to prepare for the funds to be made available on the date of settlement.
|Think of yourself as a developer and decide what would be the best way in which to finance your next development?