More than even before, it’s important to have a qualified, competent loan strategist as part of your advisory team (as important if not more important in some cases than having a solicitor and accountant onboard).
There is a story that a Bank’s Business Development Manager told us and to a huge extent it is true:
A client kept applying for ‘pre-approvals’ every three months with a lender as he wasn’t finding the ideal property. When the client found the property , the bank declined his loan. This is because the bank computer algorithm thought that there were too many credit ‘enquiries’ on his credit file and accordingly decided that he was a poor credit risk.
The reason for this
Why we are different?
After the initial interview with you, we work with you on the timeframes for your property purchase evaluate, rank and shortlist the different lenders based on criteria (e.g. interest rate, credit policies, ease of doing business, their service proposition, fees and charges, valuations, specific niches that they offer)and then determine the timing of the loan application.