This week, the This Property Life panel are joined by mortgage broker, Emma Faulkner to talk about all things property finance, including how to best package the perfect mortgage application, and how to get the best advice from your broker.
When approaching a lender, always bear in mind that you are asking for a huge sum of money, so making yourself appear as credible and attractive as possible is essential in getting them to agree.
With investment properties, you will require a physical evaluation. With residential it can be different, and done all but remotely.
The most important thing a new investor can do is work on their credit file. If you have any issues upon your file, add notes where possible. Ensure you're on the electoral role. You must look like a viable option.
With investment properties, if the client takes a 5 year fixed rate, they will get more borrowing, because lenders will know the costs for a minimum of five years.
'You have to make yourself look as attractive a proposition as you can'
'Most lenders are looking for you to have property ownership for six months'
'Your credit file is your CV for lending'
'It's all about painting the picture'
Every Mortgage Solution - https://everymortgagesolution.co.uk
Emma Faulkner LinkedIn - https://www.linkedin.com/in/emma-faulkner-16010a92/?originalSubdomain=uk
This Property Life - https://podcasts.apple.com/gb/podcast/this-property-life-podcast/id1540075591
ABOUT THE SHOW
This Property Life is hosted by the team at Property Wealth System. We are a collective of experienced active investors passionate about all things property.
Mark Winship is an experienced property investor and mentor with a portfolio of HMO and Serviced Accommodation properties across the UK. Mark’s background in coaching high performance athletes has lead to a passion for mentoring people to achieve their life goals using property investment as a vehicle.
Caroline Claydon Caroline Claydon has over 22 years experience in investing in property but it’s only the last 12 years she’s operated as a professional investor. Her and her husband have built their portfolio throughout the UK covering strategies from buy to let’s, social housing, HMOs, developments and more recently a hotel. She has travelled the world training people for the last 10 years on how to invest, scale and accelerate their UK property businesses regardless of where they are based. Caroline loves helping people reach their full potential by changing their mindsets to money, debt, property and investing.
James D’Souza started investing in property from a young age and now owns a significant portfolio of buy-to-let properties, professional HMO’s and commercial developments. Whilst actively growing his own property business, James helps countless other people start and scale their own property journey.
You can join Mark, Caroline and James along with a whole host of other like-minded investors in the Property Wealth System Facebook Community:
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