Great North March 2018 Meeting
Get yourself “funds ready” for your next deal – John Kerr
Would you like to know how lenders assess you when you apply for a mortgage? Are you at the stage where lenders need to understand the strength of your property business and not just how to fund your next Buy to Let lending application? And would it help if your business had agreed access to all the funds you need for your next deal?
From this talk by John Kerr you will understand the importance of getting funding “pre-approved”. Whether you are starting out in property or have several properties this presentation will give you unique insights into:
- The basics of credit scoring and reporting, an essential component that all new property investors should know;
- How to repair an impaired credit record;
- How to become a safe pair of hands for private investors’ funds;
- A few of the secret 42 point criteria that lenders typically use to score experienced Buy To Let investors’ – applications that you will never see elsewhere!
- How to set up your property investment and development business and get “pre-qualified” to fund bigger deals.
- How to develop your mind-set, overcome the barriers to success that many individual face and motivate you to bring your dreams to a reality.
- Understand that you can achieve much more by thinking bigger, working within a larger vision framework and scaling up your Power Team.
Our top tips on the best ways to get a good credit score:
- Have you had a regular (continuous) address for more than 1 year?
- Have you been in the same job for more than 3-6 months and can prove it?
- Are you on the Electoral Register to vote in the UK?
- Does your address match the Electoral Register exactly and is it up to date?
- Have you had a bank account open in the UK for more than one year?
- Do you have credit cards and use them?
- Are you paying off your debts and charging less to your credit cards?
- Do you repay your Credit Cards on time?
- Do you repay your household bills on time?
- Get a store card.
- Get a bank loan that you can pay off in instalments.
- Don’t close off old credit card accounts! If you close your oldest accounts, it can shorten the length of your reported credit history and make you seem less creditworthy. Keep them open and use them.
ALSO …Unlocking a new source of funds for your property journey – Garry Whelan
Wherever you are in your property journey at some point you will run out of funds. There is nothing more frustrating than finding a brilliant deal but then losing it because you don’t have enough money to fund it.
Many of us believe that we have exhausted all possible avenues for funds in our own lives. Yet often we’re sitting on or next to a big pot of money we didn’t even realise we could access!
At this month's pin meeting, Garry will reveal what this source of funds is and how you can use to it to fund your property journey.