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A Mortgage Packager and His Roll in Buying PropertyWhat is a mortgage packager? They are basically processing people or departments. They take care of all the documents required for an application (eg proof of earnings, valuations, banks statements etc). When dealing with a mortgage packager they would probably get you to fill in a generic mortgage application form. Then they might also get you to sign documents, such as a direct debit that is specific to the lender. In short, they put all the paperwork together on behalf of the lender (including the basic property survey) and makes sure everything is present and correct. What is the advantage of using a mortgage packager? If you are using a good one, there are many advantages we have listed a few below.
Are Packagers essential to your property business? Absolutely, many investors have survived for years without using them, but increasingly (especially in a difficult property market) they are becoming an essential part of the astute property investors power team. There are lots of good mortgage brokers that are now also doing most of there business with the help of packagers. This helps them to be more efficient and takes some of the burden of them as well. If you want o grow you business quickly and professional, then they are worth considering. return from this packager page to the home page of investment property guru |
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