Our Top Tips To Secure Lending Quickly

We get it, you’re probably bored of hearing about the cost of living and increases in interest rates.

But, we’re here to help! Here are our top tips on how to secure funding quicker than anyone else! Being ready to strike could mean the difference between your offer being accepted and losing out on the property.

Get prepared!

Organisation is key. Make sure that all of your documentation is collated and ready to send.

Think about ID, proof of funds or deposit, credit reports, proof of address, solicitors details. Consider whether your solicitors have the capacity to handle your case quickly and if not, do you have an alternative? Does your lender require your solicitor to be on their approved list?

The last thing you want is to be the one responsible for any delays.

Understand what product you need

Some mortgages are considered special products and it pays to know what type of product you need for each strategy.

For example, applying for HMO or SA mortgages is slightly more involved than a standard BTL mortgage. If the property is low value, it might be lower than some lenders lending thresholds.

Do your research well in advance and understand what product you need. Make sure that you're across the different requirements and assessment criteria for each of your potential lenders.

Are your finances and costs as tight as they need to be?

Perfect the art of analysing deals! If the lender can see and appreciate that you have a solid understanding of this, they might just be more comfortable lending to you.

Know your products When it comes to mortgage brokers, make sure that you fully understand where their expertise lie in terms of the products they offer and the lenders they have relationships with.

Some brokers are fantastic at securing BTL mortgages, others deal with just HMO mortgages, maybe you need a bridging lender.

Do your due diligence and create a team of specialist brokers that you can call upon quickly, whatever the strategy is.

Get creative You really want to remain active in the market but the mortgage rates and cartwheeling to secure funding are putting you off? Think outside the box. Consider raising investment private or even better, invest with us!