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 one of our team will talk you through it. When you have found a property that fits your investment criteria and you have performed your due diligence you are now ready for the next stage.
Step 2 - Qualify the deal
Call one of our team who will guide you through the different finance options of the deal. The key factors that affect the deal are:
Loan Amount needed
Construction of property
Amount required to refurbish
Once the deal has been qualified, we are ready to go.
Step 3- Arrange the Financial products required
Once the bridging and remortgage products have agreed with you we will obtain;
Bridging facility agreement
A decision in principal to the end mortgage lender.
Step 4 - Arrange the legals
At this stage you are in a position to instruct the solicitor.
Instruct the solicitor to begin the conveyancing. You may use your own solicitor however All Set to Let have proven solicitors who have the knowledge, infrastructure and experience to deal with the BMV process.
Step 5 - Arrange completion
All Set to Let have a dedicated team that track your deal to ensure the mortgage offer and legal works are being carried out in a timely fashion. We will coordinate your completion to make sure the necessary bridging funds are available.
Step 6 - Completion with Bridging funds.
The bridging funds are used to complete the purchase. You then commence paying the monthly interest payments.
Step - Re-mortgage
The property is refinanced with the arranged timescales- typically 6 months, and any equity balance is paid back to you.
At any point problems or issues occur you will have a dedicated team member on standby to offer advise and assistance.