Mortgage Lenders: Why Should I Use a Mortgage Broker Instead of a Bank?

Buying a house in the UK is an expensive proposition, with some buyers concerned about how they can raise the money. The last thing they want to worry about is how they are going to find the right mortgage for their needs. A mortgage broker is an answer to their worries. Here are some of the advantages of using a mortgage broker when buying a house in the UK.

Banks are not in the business of providing mortgages to everyone who applies. They want to reduce their risk when dealing with potential customers. A mortgage broker has the expertise to find the right mortgage for your needs.

If you’re keen to start looking for a mortgage, but unsure of how to proceed, a mortgage broker could help you. So what are the advantages of using a mortgage broker?

Table of contents
Why should I go to a mortgage broker?
The differences between a bank and a mortgage broker.
What a mortgage broker can do for you?
How do mortgage brokers work?
Conclusions: Buying a home is a huge investment. Make sure you have all the information you need to avoid costly mistakes with a mortgage broker.

Why should I go to a mortgage broker?
When it comes time to get a mortgage, the first place most people think to go is their local bank. After all, banks and credit unions have been in the lending business for years, and it seems like a logical place to go for a mortgage. They have the lending power and the experience, right? In all reality, banks don’t really have a place in today’s mortgage market. In fact, when it comes to mortgages, banks only lend a small percentage of the money in the market. That’s where mortgage brokers come in. Mortgage brokers are perfect for the modern mortgage market, which is filled with a number of different players. Banks might not be in a position to give you a competitive rate, but a mortgage broker will. Banks don’t have the time or the manpower to devote to every single customer that walks into the bank, but a mortgage broker does. One of the main reasons why

The differences between a bank and a mortgage broker
Banks offer a simple way to apply for a mortgage. They also have a huge selection of mortgages to choose from. But what if you need a mortgage that’s not offered by a bank? That’s where a mortgage broker comes in. Mortgage brokers have access to a huge selection of mortgages from a variety of lenders. And they can often get you a better deal than a bank. Plus, a mortgage broker can offer you more personalized service. You get to talk to the same person every time, instead of being passed from one bank employee to the next. Remember, a mortgage broker is paid by the lender, not the borrower. So the mortgage broker will be more interested in getting you a low-interest rate mortgage than a bank could be.

What a mortgage broker can do for you
Most people have a bank that they already do business with, and that’s a good place to start if you’re looking for a mortgage loan. However, if you’re looking to get a loan from a different bank, a mortgage broker can help you get a better interest rate on your mortgage or a better deal on refinancing your existing mortgage.

A mortgage broker can help you get a loan even if you don’t have the best credit. If you’ve had a bankruptcy, a foreclosure, or a short sale on your record, you can still improve your credit and get a mortgage. A mortgage broker can also help you refinance an existing mortgage if you’re paying a higher rate.

Buying a home is one of the biggest decisions in most people’s lives. The mortgage process can be a long and difficult one, especially for first-time buyers. However, with the right mortgage broker, the process can be a lot easier. A mortgage broker is a consultant who works with a bank or lender to help a client choose a loan that is right for them. How is a mortgage broker better than a bank? Mortgage brokers have a better understanding of the mortgage market. They know the different types of mortgages and the best type of loan for a client. For example, a broker can tell a client that a different term mortgage could save them thousands of pounds over the life of the loan. A mortgage broker can save time. Banks take longer because they do not specialize in mortgages. The process between banks and brokers is streamlined because the broker knows how the different lenders operate. They can provide information that will help their client get approved faster.

We hope you enjoyed our post on why you should use a mortgage broker over a bank when you’re in the process of buying a home. With so much information and advice out there, it can be difficult to sift through the confusion and find the right mortgage for your home-buying needs. By using a mortgage broker, we know that we can help to make the process simpler and less confusing so you can close on the home of your dreams quickly and easily. If you are in the UK and looking for a mortgage broker in the UK we highly recommend Mortgage broker Huddersfield

Top 4 cryptocurrency exchange apps in India

These days many people are in the pool of crypto trading and investing. To carry out the trade they rely on some intuitive applications by reputed crypto exchange platforms in India. These apps not only aid in trading but also help in investing and storing money and digital coins to gain larger profits.

Here are some of the best apps for crypto trading to level up your investments and returns.

Wazirx- Bitcoin and crypto exchange India
Wazirx is the best app for buying cryptocurrency in India. It gathered attention after Binance acquired Wazirx and made it a perfect spot trading platform for crypto investors.

There are more than 100 cryptocurrencies available in the application. The users can deposit and withdraw money via UPI, IMPS and P2P. Wazirx has the highest liquidity in the national currency in India. The company also gives referral commissions and plans certain contests to widen its reach.

It is among the top cryptocurrency exchanges in India. Its easy and simple interface makes it preferable for crypto traders. To sign up with Unocoin, the participant has to clear the identity verification process with certain documents. After successful login, the user can buy, sell, invest cryptos such as bitcoin, ethereum, litecoin and other altcoins within the app. The Unocoin app also includes a schedule sale feature for auto sale purposes.

Like Wazirx, it also involves various payment options like UPI, IMPS, P2P and RTGS. For more security, it offers biometric authentication via fingerprint or passcode.

It is recognised as the most versatile crypto trading app in the country. It lets the users invest in more than 200 cryptocurrencies in a limited manner so as to not lose much money in the highly volatile crypto market. The whole set-up process requires OTP (one-time-password) on the registered mobile number or email id.

This app only supports Indian rupees so make sure to deposit and withdraw the amount in INR. Along with UPI, IMPS etc, it also allows bank transfers. CoinDCX has an extensive group of security measures which makes it a safer option.

Another crypto trading and investment app that most crypto users are aware of is Zebpay. By successfully submitting the KYC documents, one can open his/her account in Zebpay.

The main feature which makes it popular is referred and earn element. If the users are able to manage to sell the idea of trading cryptocurrencies with Zebpay, then they earn 50% of the trading fees for one year. However, the minimum deposit amount should be Rs 100 via UPI and Rs.1000 through other payment methods to avail of the rewards.

Bottom line

The Crypto market is an ever-growing place. It is not fragile so the people who are planning to invest in them should do the same without any hesitation. The above-mentioned crypto apps are the best cryptocurrency exchange platforms to carry out different trading strategies. In addition, these apps also provide their digital wallets for storing virtual coins and help the users to keep track of their transactions.

Mutual Fund investments: 5 ways to invest in the bull market

A mutual fund means a fund established in the form of a trust to raise monies through the sale of units to the public or a section of the pubic under one or more schemes for investing in securities, money market instruments, gold or gold related instruments, real estate assets and such other assets. In case of a first-time investor in mutual funds, you need to formulate an investment strategy to diversify your investment which may help to generate long term risk adjusted return. A stock market on the bull run seems an exciting moment to invest, but one needs to be patient while investing in the market.

You can follow the following strategies while investing in mutual funds when the market is high.

1. Review your portfolio: When you initially constructed a portfolio, the markets must have been quite different. Currently, you may be cautious of market behaviour. This is a good time to assess your mutual fund investments and make a comparison of the mutual funds. If you have been investing in equity funds, you can transfer some of your mutual fund investments to debt funds to protect mutual fund investments from volatility.

2. Goal evaluation: It is essential to revaluate one’s goals at regular intervals. Newer goals will help you to invest your money efficiently. If you were an aggressive investor in the past, now you can follow a slightly conservative policy. Your mutual fund investments should be in line with your financial goals. Make a comparison of various mutual funds and choose a mutual fund based on the terms and risk profile of the goal.

3. Stick to SIPs during market high: Investors who are not aware of the market dynamics should go in for systematic investment plan(SIP) in mutual funds. When one invests a certain amount in a fund at regular intervals, one buys more units when the price is lower and lesser units when the price is higher. This is called the ‘rupee cost averaging’ method.

You can use a mutual fund calculator which is a financial tool that helps you calculate the returns from the mutual fund investments. You can thus determine the maturity value of an investment if you invest a lump sum amount or use the SIP route.

4. Choose funds as per your investment profile: Financial goals and risk tolerance should be the priority of every investor. It is essential to invest as per your risk profile and market levels should not hinder your financial goals.

For example: if you invest in mutual funds aiming to finance your retirement years after around 25 years, a sudden spike in market levels should not stop you from investing. You should keep investing in whatever funds you have invested in.

A mutual fund calculator is important because you can calculate the returns based on assumed rate of returns on investments.

5. Do not try to time the market: Every investor has done this at some point. Not only does it result in missed opportunities, but can also lead to wrong choices that hamper the growth of your portfolio.

Finally, be lion-hearted and invest in the market. The rise and fall in stocks is fundamental to market behaviour. A good financial advisor can come up with a good investment plan that can help you to create wealth in the long term.

Disclaimer: The views expressed here in this Article / Video are for general information and reading purpose only and do not constitute any guidelines and recommendations on any course of action to be followed by the reader. Quantum AMC / Quantum Mutual Fund is not guaranteeing / offering / communicating any indicative yield on investments made in the scheme(s). The views are not meant to serve as a professional guide / investment advice / intended to be an offer or solicitation for the purchase or sale of any financial product or instrument or mutual fund units for the reader. The Article / Video has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. Whilst no action has been solicited based upon the information provided herein, due care has been taken to ensure that the facts are accurate and views given are fair and reasonable as on date. Readers of the Article / Video should rely on information/data arising out of their own investigations and advised to seek independent professional advice and arrive at an informed decision before making any investments. None of the Quantum Advisors, Quantum AMC, Quantum Trustee or Quantum Mutual Fund, their Affiliates or Representative shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary losses or damages including lost profits arising in any way on account of any action taken basis the data / information / views provided in the Article / video.

Hiring GSA Schedule Consultants: How to Improve Sales Operations

In 1949, the government created a valuable tool that all vendors looking to sell to the federal government should be aware of. The General Services Administration (GSA) is a federal procurement tool that government employees use to obtain: products, communications, and spaces for the office, transportation, and other management tasks and services designed to cut costs. Vendors that are not listed with the GSA are missing out on a chance to substantially boost their sales by making their product or service viewable to thousands of government customers.

Federal consumers deal solely with GSA listings when looking to make purchases because its buying process has been streamlined: all buyers have been pre-approved, all prices have already been negotiated, and a lot of the work involved with making a purchase is eliminated. Organizations that want their product or service to be listed will usually turn to a GSA company. These companies offer years of experience getting businesses listed, and will use that expertise to optimize GSA schedules so that the businesses are able to make sales. However, businesses that choose to not work with a GSA company will usually see poor results. Businesses that are tired of seeing poor results should reach out to GSA schedule consultants for advice on increasing their sales conversions from their listed contracts. Here are some of the ways that GSA schedule consultants will help a company improve its sales operations:

Scheduled Preparation

One cause of low sales is problems in the sales operations process. Time, money, and resources are wasted if the organization takes too long to secure an award. GSA schedule consultants will evaluate the sales operations processes and provide strategy development and proposal preparation assistance so that the process is expedited. In some cases, the GSA schedule consultants might be asked to take over these tasks entirely. They will also provide advice on negotiations to help organizations gain contracts that they otherwise would have lost to a competitor.

Contracted Management

Placing a GSA schedule listing and then forgetting about it is another way to guarantee low sales. The market is constantly changing, so while an organization might start with the lowest rate, competitors might undercut that rate and steal business away from the organization. Sales can be improved by allowing GSA schedule consultants to manage the contracts. They might add new products, remove old ones, adjust the rate, and make administrative revisions. Additionally, they can help when it is time to negotiate a contract extension. Without help from consultants, the organization might become overwhelmed by the different procedures that are necessary to secure a renewal.

GSA Compliance

A listing will be removed if the GSA contract is not in compliance. GSA schedule consultants will provide training to organizational members so that they are able to maintain an up-to-date and complaint contract post-award.

These are just some of the ways that GSA schedule consultants help businesses boost the number of contracts that are acquired. When working with a GSA company to set up a contract listing, ask if they also provide consulting services to ensure that sales operations are effective.

Business Management Consultants

Media planning and buying is an important marketing function. Companies need to use the right medium while targeting their audience. Business Management Consultants help organisations to use the right medium and measure the performance of the marketing activity. Media audit essentially answers these fundamental questions:

Media planning helps in answering these basic questions:

a. Where to advertise? Market research helps in identifying which market their competitors are using. Either using primary or secondary data, the target market segmentation is done. Which part of the country would it be more successful and the medium that part uses.

b. Who to advertise for? The company’s potential buyer needs to be identified, the person earning the most in the family might buy the product, but it could be used by some other individual in the same household. Research again helps in targeting these products accurately.

c. How much to advertise? The media budget is based on this, the more frequently the advertisement is shown or viewed or aired the costlier it is the purchase the medium for the given time and space. Specifying the time is a must when the ad campaign is on a television or a radio.

Some companies prefer in-house planners, business management consultants usually have a team of individuals, who are selected based on the client. Business management consultants can make his/her group according to the project or client they have. Certain brands invest highly in media audit and at times some don’t, depending on this a team can be formed.

What is media planning?

Media planning is a highly specialised service; the planner needs to have a thorough understanding of consumer behaviour, purchasing habits of various brands and the medium of communication which is popular with their consumers. Based on these factors the consultant chooses the right medium or media, depending on how much the client is willing to spend. Media planning is a function that helps in determining the most effective manner of spending the advertiser’s money/ investment across media so as to generate the best Return of Investment (ROI) for the company.

The consultant needs to understand that mediums of communication are now merging, previously each medium print, radio and television were being targeted separately. Now with the online medium the three traditional mediums have converted into one. Marketing is now a two way communication, consumers and brand interact using social media.

The major steps involved in media planning are:

• Clients Marketing Brief: This brief is provided by the client, it contains details about the product, its functions and the competitive advantage and the portfolio of products and services they offer. High and low selling products are highlighted, this help in the SWOT analysis. The media that they are currently using, the market segments that they are targeting and how much they are currently spending on media. The client specifies their marketing objectives in this brief.

• Advertising Agency brief: This brief explains the creative execution of the campaign; this is usually done by a boutique or an agency that handles creative advertising designs.

• Media Planning brief: The advertising agency comes up with the advertising brief the media planner or business management consultant helps to arrive at a media plan. The media brief contains media objectives; this helps in deciding which media to choose, how many times and at when. The brief includes definition of target segment and information about their competitors. Understanding how much their competitors are spending, the medium they are using and how many times in a day or month are they disseminating the advertisement.

Media planning is an important management function and business management consultants help in creating the media planning brief. At times companies use to wrong medium to disseminate their marketing efforts, business management consultant help in choosing the right medium in the current market scenario.

Do You Have the Right Social Media Consultant?

There’s no stopping it right now. Social media is an online hub for millions of businesses in Melbourne and the rest of the world to promote their products and services. And along with the clamor for effective presence on various platforms such as Facebook, Linkedin, Twitter, Pinterest and etc. is the demand for skilled social media consultants in Melbourne & everywhere to help businesses achieve their social media marketing campaigns.

Why are these consultants in demand?

If you’re one of those looking to have a social media presence for your business, you have to keep it mind that’s it’s not as simple as having a personal Facebook or Twitter account. It involves plenty of setup, tracking and analysis, as well as using various tools to help generate reports that will measure how effective the marketing campaign is. Meaning, if you don’t have a solid experience or technical knowhow in online marketing, particularly social media, you need an expert to do it for you if you want to succeed.

Who are the experts?

Unfortunately, because of the high demand for online marketers, sometimes it’s quite hard to discern the experts from those who just want to rip you off. Whether you’re still shopping for providers or currently working with one – how would you know if they’re just overcharging, giving grand promises and providing mediocre results?
Here are 4 ways that may help you check if you’re working with the wrong consultant:

Your monthly bills are obscure – Be wary if there are no details attached to your bill. It should specify and outline the details that your consultant is charging you with. Don’t hesitate to ask for specifics coz you have every right to do so.

You’re offered a “one-and-done” campaign – Keep in mind that social media campaigns – or any online marketing campaign for that matter – do not achieve the ideal results with just one go. This scenario will never have the long-term benefits your business needs. A good consultant will analyse and experiment using a combination of different tools and methods. This way, results can be improved as you compare multiple campaigns to see which one works best. So if you’re promised that a single run of a campaign will take your business to new heights, be careful. Results may either be nothing or at most, short-term.

You rarely get to hear from your consultant – Ideally, you should be able to get hold of your consultant during work hours or he/she should be able to get back to you immediately. If you don’t get updates at least once a week or as agreed, and if your efforts to get in touch are usually unsuccessful, maybe it’s time to find another agency that can treat you like a valuable client.

You’re not satisfied with the reports – The reports you’re getting are vague, or you seldom get them or they’re too generic or you are not made to understand them or all of the above. Hey, something’s wrong here! A good social media consultant in Melbourne or elsewhere will always have the most updated tools to create reports for you. And when the tools are right, your consultant will always have the ability to generate measurable and quantifiable data that will tell you how effective your campaign is.

Aside from great marketing skills, a good social media consultant in Melbourne will make sure that you always have transparent transactions from start to finish. This means data are always supported by facts and figures, project timeline is clear and agreed upon and objectives are reasonable and achievable. If you think that the promises made are too good to be true, then they most probably are.

3 Steps For SEO Off Page Optimization – Advice From An SEO Consultant

To have a website which in going to succeed in any competitive market you will need the advice on an SEO consultant. It can be a daunting task to think about getting a high Google ranking when you see that millions of search results are found for certain search phrases. For a small business SEO can be an invaluable asset to get new customers.

In this article we are going to look at the “off page” factors that are necessary to make sure that your website has a strong foundation.

First of all – why bother about Search Engine Optimization?

Having a successful website that potential customers can find is a bit like building a house. You want the house, not only to look good, but you want it to endure the elements – storms, wind, rain – in fact anything which could damage your property. You need to have a good foundation, good quality materials and strong mortar which will hold everything together.

Your website could be likened to a beautiful house. You will have spent a lot of time and money in having it designed and working properly. But – are people finding it? If they are, will it weather the storms created by search engine algorithm changes? This is where an SEO consultant can help. An Search Engine Optimization consultant will build a good foundation and then use techniques which can be likened to brick and mortar so that the website keeps a strong and secure presence on the Internet.

What is necessary for a good foundation? Just like the foundation of a house aren’t seen, so we don’t really see these “off-page” factors. Here are the 3 main factors that an SEO consultant recommends:

Keyword Analysis. Keywords are like the bricks of a house. So spend enough time to research and identify which keywords and phrases potential customers will use to find your business. A consultancy SEO company will research thousands of potential keywords and choose the most profitable ones for your website. This will be based on current search trends, i.e. what your potential customers are currently typing into the search engines to find services that you provide. You can also do this yourself using free online tools.

Competition Analysis. In order to beat your competitors you need to know their strengths and weaknesses. A trained SEO consultant will carry out a detailed research of your competitors websites. This information will then be used to make sure that your website foundation is better, stronger and more endurable than theirs.

Link Building. If keywords are the “bricks” of your website then link building is the “mortar”. It is the factor that holds everything together. What are backlinks? This is a link to your website that is found on another website. The search engines view them as a referral. The more links you have – the more referrals you have and the more relevant your site will appear.This, however, is a time consuming process because the websites on which links can be placed have to be found. This can also be a tricky process because if it is not done correctly it can have a negative effect on your site. Links from trusted and authoritative sites need to be found. Imagine if your house was built using cheap mortar! What would happen in a storm? It would probably fall and crumble. This is what can happen to a website if link building is not done correctly using low quality links. It could stand for a time, but when Google makes a change to it’s search algorithm then hundreds of visitors can be lost over night. Google can, and will, penalize your site for using poor quality backlinks. If you use professional SEO consultancy services they will find quality sites and build links to your site. Never use methods like buying lots of backlinks thinking that more is better. Go for quality over quantity.
So before undertaking any kind of work – it’s essential to do the proper ground work. If you build on a weak foundation you run the risk of problems developing in the future and then it could be very difficult to repair the damage.

Make sure that you spend enough time to fully understand these 3 important off page factors – keyword analysis, competition analysis and quality link building.

Major Things Expected From An Overseas Education Consultancy

Education is one thing that is worth investing at any point of your life. The value of a good education is too precious and you will never regret for spending your time and money for education. Majority of us focuses more at getting better education and make our life more solid and secure. If you have got the proper education and talents they you are bound to succeed in any part of this world and this is what makes education more important in ones’ life.

A lot of students are forced to go to different places in search of better education as most of the countries are not having quality higher educational institutions. The lack of quality education in a country forces the students to go for abroad education and there are a lot of countries which offers better education system in different branches. Depending upon the various educational branches, students opt for different countries for pursuing their higher education.

A student always faces the difficulty of choosing the right country for his or her higher education. This is mainly due to the reason that there are a large number of countries offering higher education in different areas and each of them has different properties and advantages. This makes utter confusion to the students and they will find it really hard to select the best country and university for his or her higher studies.

This is an area where an overseas education consultancy can make its mark and provide the students with ample help and support in identifying the best place for higher education. A well reputed educational consultant can really seize the opportunity and come up with helping hands for the students. Being a reputed and reliable overseas education consultant is not an easy task and it requires years of hard work and dedication which helps in creating a branding abroad education consultant.

Here I will like to discuss about some of the major things that we expect from an overseas education consultancy.

1) Reputation

2) Reliability

3) Trust

4) Good Hospitality

5) Good Staff Behaviour

6) Exceptional Office Etiquette

7) Great Assistance

8) Good Follow up and Updates

9) Open Minded

10) Good Response Speed

These are just some of the major things that we expect from a education consultant and these things form the backbone of any education consultant. If any of the above things are missing, then we might not wish to continue with the education advisor and hence it is important for the consultancy to make sure that these things are followed. Since the case is of abroad education, students usually has to invest a good amount of money and they will do everything to make sure that they are investing their money in the right place.

If you are looking for an overseas education consultancy, make sure that atleast 7 of the above mentioned points are met and once you see that these points are met, then you can confidently carry on with your process of overseas higher education.

5 Reasons For Consultants to Incorporate Now!

When you form a corporation you are creating a tax entity that is separate from your personal self, and separate from your personal assets. The corporate entity is like another person the IRS will tax in certain ways, and is also something that can be taken to court by someone pressing charges in a court of law.

Creating a corporation is a very smart move for many reasons. Money is one reason you should incorporate. A corporation can make money that it doesn’t pay you… and you can pay yourself only what you need to survive, not more. In this way you can save a lot of money on taxes each year.

Incorporating your new business has a number of positives that you won’t want to pass up.

5 Best Reasons to Incorporate as a Consultant:

1. Saving Cash

As I mentioned… you can save quite a bit of money at the end of the year just by paying yourself only what you need. That money will be taxed, and the money that stays in your business checking account is not taxed – depending what type of corporation you choose. Chances are good that you can save money on taxes at the end of the year too – hire a good accountant that is very familiar with business tax deductions and you’ll be happy you did.

2. Less Responsibility

If you’ve been living in a box for some time and you feel quite safe about consulting without being protected by a corporation, let me assure you that many court cases are conducted where consultants are sued for something they did. If you are not incorporated and didn’t follow strictly, the rules for keeping business and personal finances separate – the court may be able to easily pierce the corporate veil and take your personal possessions if you are sued. Creating a corporation and following very strictly the rules about keeping all finances separate – is the right thing to do. You owe it to yourself to stay safe. You owe it to your family as well, don’t you?

3. Less Audits

One thing that flags the IRS to audit businesses is when they are sole proprietors and haven’t incorporated. The IRS knows that many people intentionally defraud the IRS by claiming to have a business, and deducting many expenses, when in fact – they don’t have a business at all. If you don’t incorporate you may have to deal with more IRS audits than someone who took the simple step to incorporate.

4. More Respect

If you don’t have a corporation, then, in many persons eyes, you don’t have a business at all. It is a bad reflection on your business, and it won’t likely be taken as seriously as would a company with “Inc.” behind their name. Without incorporating the message you’re sending to the public is that either your business is not really valid, it’s a front for something, or you don’t really know enough to understand that you have to protect yourself from liability as much as possible by incorporating. By incorporating, you are adding credibility to your business and showing the world you are taking it seriously. Lending institutions lend more often to incorporated businesses than not. If obtaining funding is important to you, then incorporation is a must.

5. Cheaper Health Insurance

If health insurance is important to you, in all likelihood, you will be able to find cheaper health insurance once you incorporate.

As a consultant you are rather unprotected in the business world. By incorporating you can accomplish many things, one of them being creating some distance between you and your company in the case of litigation. If the corporate veil is pierced you’re in for a lot of grief. Save yourself the grief by taking a couple hours today and reading about incorporation and which type might be best for you. Most consultants find that the LLC – Limited Liability Company is the right one for their consulting business. Many incorporate their name, like, “Joe Dooda, Inc.”

You really shouldn’t need more reasons than those mentioned. Go incorporate your consulting business today!

203(K) Consultants and Lien Waivers

Think your title is clear when the Contractor leaves? Consider how the 203(k) Consultant looks at the project. Tracking lien waivers is one of the most important roles of the 203(k) Consultant – and yet most Borrowers aren’t aware of what this means, or how important it is.

The 203(k) Consultant And The Monitored Loan.

On a “Full 203(k)” loan the 203(k) Consultant is the person responsible for releasing money to the validated Contractor of record – via the Draw Request forms- across the life of the construction loan. Each time that the Contractor, or Borrower, calls the Consultant to visit the site there are 2 forms that absolutely have to be signed off on: The Draw Request form, and the Lien Waiver. Lien laws are specific to each state, and GA recently tightened up it’s lien requirements (2008), so Lenders rely on a proprietary lien waiver that keeps their bases covered – and lien rights extinguished.

Draw Requests Pay Everyone on site.

There are up to 5 draws for each project, this includes a Change Order inspection, all of which require a lien waiver in order to be processed by the lenders draw center. Over the years, we have learned that requiring the contractor to provide lien waivers for ALL their subcontractors is KEY to insuring a clear title at the end of the project. When the Consultant performs the final inspection, and the Mortgagors Letter of Completion is completed, the Lender checks title prior to releasing the final 10% Holdback to the Contractor -Just in case things aren’t as rosy as they seem. We have resolved a lot of lien problems over the years, and more often then not, liens are placed by someone we have never actually seen on site. Like the electrician, or HVAC company that hits the place like a ton of bricks and then goes off to the next job – all the while thinking the check is on the way. What the Contractor doesn’t often realize is that not paying the Subcontractor in a timely fashion not only keeps him from his 10% retainage, but puts their names on a do-not-use list with the Lender… so it is in their best interest to pay their subs.

A 203(k) Consultant On Every Renovation

We believe firmly, and are outspoken about the 203(k) Consultant being MANDATORY on ALL FHA 203(k) Streamline loans, not just the Full 203(k). Generally speaking, a Streamline loan is $35,000 and below – and the banks look at it this way… ‘Just how much trouble can someone get into with only 35k?’-experience has taught us that the answer is A LOT. When you look at the renovation industry thus far – it has been laced with fraud, arrogant investors and homeowners acting as their own General Contractor, or worse, architect. Having a 203(k) Consultant on every FHA loan is an important step in rebuilding this countries housing stock – and bringing back a strong housing market one house at a time.