• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

Bridging Loan - Blemain Finance / Lancashire Mortgage Corporation

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Bridging Loan - Blemain Finance / Lancashire Mortgage Corporation

    A couple of months ago I went to a Property Landlord Show in Borehamwood, Hertfordshire. I met different exhibitors giving useful information about their various services. In hindsight it's just a tactic to get your name, telephone and email address. Then the follow up call - fortunately for the broker I had just bought two houses at auction and needed a buy-to-let mortgage. The broker explained because I needed to complete within one month, I would have to get a bridging loan until mortgage would be ready a month after that, so a total of two months and I will have my mortgage. When I received my solicitors papers I phoned the broker and questioned why it says twelve months if he had the 'exit mortgage' ready by the same lender LMC. His lengthy conversation was basically 'that's how it works' - I went and googled the bridging company and arrived here. Won't be signing any papers and have to let a house go and lose deposit. Thank you for the warning.
    Tags: None

  • #2
    Re: Bridging Loan - Blemain Finance / Lancashire Mortgage Corporation

    I'm not sure if that is a well done or not, but you were absolutely right to look up about the firms the broker was recommending to you and checking any reviews and make an informed decision, as opposed to relying on the guff from a salesman( broker).

    You should try and organise a mortgage in advance of buying at auction so you only have the conveyance/valuation & paperwork to go through once you have made the purchase.
    #staysafestayhome

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

    Received a Court Claim? Read >>>>> First Steps

    Comment


    • #3
      Hi
      do you have the brokers names plesse? My mum was ripped off by LMC and we are trying to locate the broker she used ASAP

      Y THANKS

      Comment

      View our Terms and Conditions

      LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

      If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


      If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
      Working...
      X