Property Loan ApplicationApplication for a real estate loan
We' ll then ask you many question (known as fact finding) to get as much information as possible about the debug. In this way we can evaluate your proposal and give you an accurate idea of whether we can help, i.e. whether there are any creditors willing to take on the necessary financing.
Many years of cooperation with creditors in financing both large and small scale investments. Below are some of the recent financing initiatives we have been involved in. When we can help you, we will give you an idea of the tariff and the conditions you can anticipate. They should be ready to submit a full evaluation of their progress, including the following points:
Creditors are always interested in meeting the client to get a technical and personally understanding of the proposed transaction, which is why we will organise an on-site meeting between you and the credit officer. Following the on-site inspection, the credit officer presents a progress review of the proposed transaction that supports the endorsement proces.
Then your application will be filed with the endorsers. In this phase, there is often a little back and forth to make sure that the creditor has all the information he needs to make a judgment. By accepting the conditions of the official proposal you must endorse it and send it back to the creditor.
It is common for the creditor to have separated representations for financing developments. Also note that some creditors demand that the borrower's lawyer has at least two or three associates in place. For Mortgages for Business we have an internal lawyer who can speak to lawyers on both sides (lender and borrower).
Most credit lines charge interest only on the funds borrowed. If the credit line has an exiting charge after completion of the transaction, this must be disbursed to the creditor by the date foreseen. Call us at 0345 345 345 6788 to review the financial covenants.