One of the questions I used to dread answering when purchasing a new property or re-financing an existing one was “what other mortgage and loans do you have?” This is such a time consuming question as it normally involves having to sift through lots of mortgage related paperwork for each property to give them the details that they need.
However, now whenever I get asked that question I just simply say “No problem – can I email the details to you.” The fact is that our property management software solutions now produce a report called Mortgage Broker summary. I simply run the report, save it as an Excel spreadsheet and email it over to the mortgage/broker.
This report includes details of:
– all the mortgages/loans that you have,
– who the mortgage/loans are with
– what amounts are outstanding
– what redemption penalties exist
– and lots more
To see a demonstration of the report from our landlord software solutions click the link: Property Management Software – Mortgage Broker Summary Report
