Massive BMV Opportunities as a Result of the Credit Crunch
We’ve all heard in the news for the last few months about the credit-crunch which is affecting the UK property market.
Essentially, the major lenders no longer have access to finance to lend to their clients. Many banks have made massive losses, and have started to exercise extreme caution with their lending criteria. This means higher rates and stricter Loan to Value mortgages.
How does all this present massive opportunities to BMV property investors?
Firstly, as first time buyers are now unable to borrow money at a rate they can afford, or simply don’t have enough deposit for the stricter lending criteria, the property market has slowly ground to a halt. As a result, demand for purchasing property is low and houses are taking much, much longer to sell. This presents opportunities to BMV investors as vendors become more and more desperate for quick cash sale.
Secondly, the biggest opportunity for Below Market Value property investors, is effects of the nation’s credit crunch, meaning more and more vendors are struggling to pay their mortgages. This is becoming an even greater problem as vendors’ fixed rate mortgages come to an end and revert to a higher rate. Homeowners are unable to do what they have done in the past – simply switch to another lender on a similar low fixed rate – as these deals just aren’t available anymore.
Instead, they are now forced to continue on their existing lenders ‘standard variable rate’ which will be at a much higher than the rate– leading to much larger mortgage payments, which many people simply cannot afford.
This is traditionally where the sale and rent back opportunities have arisen for investors. There has always been, and will always be, a demand from distressed home owners to sell their homes and remain as tenants. This opportunity has never been bigger!
It all seems to good to be true!
Unfortunately, as a result of the credit crunch, MX - the leading lender in the BMV property market was forced to withdraw its closed bridge and instant remortgage service. This product allowed BMV investors to finance their property purchases by using none of their own money, and in many cases, even take a cash lump sum out of the property on completion!
As a result of MX withdrawing this product, many investors are now “out of the game”, as they no longer have the resources in place to keep buying property with little or none of their own money.
BMV Property Investments can help!
BMV Property Investments have teamed up with a leading finance specialist in the BMV industry who has developed a system which allows you to make “No Money Down” and cash back deals work once again! This system is not only 100% legal, it has been tried and tested with dozens of investors on a variety of lenders – without any problems arising!
BMV Property Investments customers are now able to use this system to turn their BMV Leads into No Money Down Deals!
