Monthly Archives: December 2019

Finance for Property

There are many conditions where you have to look for property finance quickly. This might be your first home purchase or investment property, or maybe you have found unique opportunities to expand your portfolio, but you must act quickly. Although there are many major lenders who can provide property financing, in many cases the approval time is long and the opportunity to make a purchase may be lost when the finances are agreed.

I will make two alternative suggestions for you to get property financing fast. In general, this advanced option of fast property financing is more suitable for experienced property investors who have additional securities and have bought and sold property in the past.

Choosing Boutique Lenders – A boutique lender is the right choice for getting fast property financing. Boutique lenders are generally flexible enough to tailor solutions to your exact needs and they have a very quick turnaround time to start your project. Because you deal with lenders directly, rather than through a broker, you will have direct access to ask questions and you will cut additional administration. Finding a good boutique lender can be a challenge, so it’s best to ask your coworkers and mentors to recommend someone. It also pays off to choose boutique lenders who have extensive experience in development funding and who know your area well.

Short-term Funding or Bridging Finance – Short-term funding may be a good choice for getting fast property financing. In such circumstances, your short-term finances will act like a temporary loan, allowing you to get funds quickly and take advantage of the opportunities that exist. You can then refinance with the main lender later, when time is no longer an urgent issue. Short-term financing options are usually offered by boutique lenders that are flexible and can provide quick turnaround. The amount usually ranges from $ 10,000 to $ 2 million.