Solicitor Loans and Finance

 Solicitor Loans and Finance

SolicitorLoansandFinance

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Solicitor Loans and Finance
Solicitor loans are an older term for private finance. This page will tell you all there is to know about solicitor loans and assist you in going about applying for one.
What are solicitor loans?

They are or were basically private mortgage loans obtained through a solicitor’s office. A lot of laws changed the way this type of finance is obtained and instead of going to the solicitor you usually now go direct to the lender or a broker and the solicitor gets involved further down the track.

The style of solicitor loans remains a quick and flexible form of funding for people who do not want to go to the banks. We will refer to solicitor loans below however keep the above in mind that it is an old term for today’s private funding.
Why get solicitor loans?

As we mentioned, solicitor loans are a quick and easy way to get a first mortgage, second mortgage or caveat loan. Some people just can’t go to the banks. Common reasons are:

    The banks require too much paperwork and financials a borrower might not have. Solicitor loans don’t.
    The borrower may have bad credit. Solicitor loans look beyond this.
    The borrower might not have time to wait weeks for the banks. These loans can take days from approval.
    A borrower may only need the funds for a short period of time and these loans are short term loans from between 1 and 12 months.

So when you need a hassle free solution to a funding need think solicitor loans.
Who provides solicitor loans?

As we mentioned, solicitor loans are provided from private lenders who have their own funds. They can customise loans to your specific needs and they make the ultimate lending decision. Once they are ready to advance you funding, they will instruct the solicitor to issue the loan documents and arrange settlement.
How do you qualify for solicitor loans?

You generally need a few basic requirements when applying for these loans.

The first, you must have real estate security for the loan. The loan to value ratio is generally between 65 and 75% of the property value.

The second is you must have a repayment plan. This is how you intend on repaying the loan and can be things like a refinance to a main stream funder, sale of the property or by other means.
More reasons to obtain solicitor finance?

Here are 5 more reasons:

    It can take days to get funds, not weeks like the banks.
    These style of loans are very flexible and can be customised to your needs.
    Unlike the banks, if you do not have tax returns or financials it doesn’t mean you can’t get a loan. These loans are low Doc.
    Bad credit or poor history is understandable and often overlooked.
    If you only need funds for the short term.

When to apply for solicitor finance?

Apply for this type of finance when you need the funding quickly and easy.

With the information we provide about  solicitor loans

, We hope you can be helped and hopefully set a precedent with you . Or also you can

see our other references are also others which are not less good about  Child Support

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