When it comes to securing finance for your investment or development, there are four important pillars to bear in mind. Understanding these pillars allows you to fully-understand the funding process, manage your expectations, and maximise your chances of securing the best deal for your project.
Pillar 1: The Importance of Presentation in Property Finance Applications
There are multiple ways to finance property, but if you require funding from a lender or investor, it is crucial you present yourself in the best possible light.
You don’t get a second chance at first impressions and failing to provide the relevant information and present your case in the best way possible could mean you miss out on opportunities, do not secure the best terms available, and waste time and money.
Pillar 2: How to be Prepared for a Property Finance Application
As the old adage goes, ‘fail to prepare and prepare to fail’. This could not be truer when it comes to submitting a finance application.
Having all the relevant information and documents ready in a comprehensive and organised manner will allow your application to be managed/processed faster and more efficiently.
Depending on the finance you require, the documents you need to prepare will vary. A specialist finance adviser that brokers property finance will be able to guide you in collating the relevant information early in the process ensuring you are ready for your next move.
Pillar 3: Understanding the Property Finance Trinity
The Property Finance Trinity is a valuable tool used for establishing and prioritising your financial needs as an investor or developer.
When defining a project, there are boundaries and values that we need to work within, and it is vital we understand what the key priorities are. Understanding this from the outset and how it relates to your situation can be very beneficial as an investor.
Pillar 4: Why It’s Crucial to Build Relationships in Property
The better connected you are, the more successful you will become. The old mantra that “your network is your net-worth” rings true.
This is vital in all aspects of business, but particularly important when it comes to securing property finance.
As an investor, you essentially need to build a list of valuable industry contacts. Specifically, people that have good connections with decision makers and can assist you when you need them. These key contacts are paramount and can be a lifeline in times of need.
Understanding these four pillars and applying them within your real estate business is essential for success. At Merryoaks, our experienced finance advisers can guide you through the investment finance process.
Our aim is to help you fund your next investment or development project and be part of your on-going growth to bigger, better, and more aspirational deals.
To find out more about how we can help you, speak to the team today.