60e0234902b048e7a20d46f3ca7b1200

Legal Disputes

Tue, 07 Mar 2023 09:00:00 GMT

LEGAL DISPUTES

A Tomlin Order is a form of consent order used in the context of property disputes. It is an agreement between parties in a dispute that sets out the terms of a settlement, without the need for a court hearing or judgment.

The order takes its name from the case of Tomlin v. Standard Telephones and Cables Ltd [1969] 1 WLR 1373, in which the principle was established.

In a property dispute, a Tomlin Order might be used to resolve issues such as boundary disputes, easements, or rights of way. The order sets out the terms of the settlement, which might include things like:

The transfer of ownership of a property or piece of land
Payment of compensation or damages
Restrictive covenants, which limit how the land can be used in the future
Agreements about access or use of shared areas

Once the Tomlin Order is agreed, it is submitted to the court for approval. If the court approves the order, it becomes a legally binding document and the dispute is resolved. The main difference between a Tomlin Order and a regular consent order is that a Tomlin Order is an agreement to stay or pause proceedings, rather than a final order that resolves the dispute.

A regular consent order is a final order that resolves the dispute. The court makes a determination on the dispute and sets out the terms of the settlement in a final order that is binding on the parties.

By working with Beat Finance you can take control of your finances and disputes. Working with introducers and clients in a collaborative way before its gets to this stage can save considerable legal costs and stress. We can help to get you back on track with your finances. If you have clients that needs a solution take action today!

Call or DM one of the team direct if you want to grow your income stream and deliver results for your clients whilst concentrating on your core business.

TAX BILL

Tue, 07 Feb 2023 10:30:00 GMT

TAXING TIMES

Self Assessment Deadline passed but what if you have a large tax bill , you have submitted on time saved the fine for filing late but the tax assessed cannot go away.

The Inland Revenue are often supportive but their rules on payment plans may not help those with larger tax bills in professions that enjoy high taxable profits.

The professional services segment covering solicitors, barristers, dentists, medical consultants, vets, opticians and accountants to name but a few.

If you have unpaid self assessment tax, it's important to take action and make arrangements to pay as soon as possible to avoid additional penalties and interest charges.

If you owe less than £30,000 you can get help direct but what happens if you owe more, have missed the 60 days payment deadline and perhaps have other payment plans or debts with HMRC.

Unpaid self-assessment tax can be a source of stress for many individuals, but do not despair.

Beat Finance have a range of loan options both short and long term that can help by utilising property assets. Often second charges that do not disturb low fixed rate mortgages your clients might have can be used to resolve the payment.

We have experts who can work with your clients to structure the best solution ensuring they are satisfied whist you retain them for your main activities that could be protection, mortgages or advisory services.

By working with Beat Finance you can take control of your unpaid tax situation and get back on track with your finances. Don't let unpaid taxes add stress to your life - take action today!

Call or DM one of the team direct if you want to grow your income stream and deliver results for your clients whilst concentrating on your core business.

MODULAR HOME FUNDING

Wed, 01 Feb 2023 11:39:27 GMT

MODULAR HOMES FUNDING

Modular homes have changed since the early 50’s prefabs. Todays modular homes are green , energy efficient and are constructed in a factory.

The home is delivered to site ready for erection onto a pre-built slab with all mains services in and this makes it a cost effective solution and can shorten build times. Often this can include plastered walls, fitted kitchens and bathrooms to walls.

Bridging plays a big part in delivering a solution like this where no- standard materials are used.

Speed is key and bridging allows your clients to complete in time scales that are not feasible using traditional means other than cash.

It is clear that development finance options can be limited with this type of build and talking to a specialist finance funder is key to a smooth build.

With wide market access our extensive network of lenders and bespoke funding lines enable you to build a bridge to the future. It is equally important that your client has an exit once the development is complete and by working together with you and your client we can ensure that the bridge is settled seamlessly.

Beat Finance keeps the property market moving with its access to both specialist and alternative lending panels and ensures it clients and its introducers do not get let down. If you have clients that you have nurtured for years but present you with problems you need help on then work with us to deliver the future they can achieve not dream about.

Call or DM me direct if you want to grow your income stream and deliver results for your clients whilst concentrating on your core business.

EXTEND YOUR LEASEHOLD

Thu, 26 Jan 2023 11:32:43 GMT

EXTEND YOUR LEASEHOLD

Rising prices are excellent for freehold but what about leasehold. The value of a property decreases as the leasehold shortens so how do you inject value into a shortening leasehold.

T he simple answer is by extending the leasehold.

Thomas Wall Managing Director of Beat Finance has looked into this and it is clear that pre and post valuations often increase significantly as a result. Location is key as is the property type.

If you are nearing the 80 years remaining on your lease mortgage lenders often refuse to lend against your property limiting your market.

With property prices likely to keep rising long term and the lessor not having any way to obtain short term cash out of the property it can be an attractive proposition for them and although it will cost much more to extend your lease if you let it dip below 80 years the capital appreciation can more than compensate for this.

Often in these cases this means that as the lessee the ability to pay for this extension in the commercial space can be difficult but by using a bridging loan to secure an extension can provide a short-term solution.

With a clear exit that we can also arrange with expected post valuation increases it is a clearly a winner for everyone.

Call or DM one of the team direct if you want to grow your income stream and deliver results for your clients whilst concentrating on your core business.

MANAGING A DOWN VALUATION

Tue, 10 Jan 2023 15:39:44 GMT

MANAGING A DOWN VALUATION

A surveyor will always be acting for a lender and in most cases will consider a property to be worth less than the price agreed. This can be an inflated selling price by a seller, condition of property or the lenders criteria for exit if default occurs and is often subject to 90 and 180 day sale valuations.

The end result can be lenders not offering the full amount required your client the buyer. This often happens after commitments have been made and with the current market valuation lead times have extended.

Generally, down valuations come to light during the survey or when the lender asks the surveyor to proceed with caution due to cyclical market conditions that may lead to inflated market conditions.

It can also be as a result of more challenging property conditions such as :

Non standard materials on a dwelling
No or dilapidated kitchen/bathroom
Land/Agricultural restrictions or
Status’s such as Semi- Commercial

Beat Finance can provide funding when others struggle due its understanding of the lending market on property.

You may find your client wants the seller to come to the party and reduce the asking price but this seldom happens.

You can search for another lender for you client but that takes time and the seller often loses confidence or it may be time sensitive and you feel you have very little options for your client.

So what can Beat Finance do to help – Believe it or not a lot and a recent transaction saw us support a downward valuation by a short term secondary loan enabling the deal to be completed on time.

The Managing Director of Beat Finance , Thomas Wall, commented: “Down valuations can put your clients transaction at risk, you may not have access to the panel of lenders that allow a deal to be tailored in a more creative way. We can work with your choice of primary lender or take over the whole deal for you but you will get a Yes or No quickly – No maybe’s at Beat Finance solid decisions backed by great lenders who act at pace.

If you have a client situation that needs specialist lending call Best Finance or DM one of the team direct.

RISING COSTS

Mon, 12 Dec 2022 11:17:30 GMT

RISING COSTS

Rising inflation and cost of living can make it harder for introducers to meet their client’s needs.

In many cases it may be better to advise clients to keep their current deal as opposed to re-mortgage and use specialist lending to give them access to new funding. In many cases Early Repayment Charges (ERC’s) will be payable as well so different lending options can lead to an excellent result for your clients.

This could be for debt consolidation to ensure that a client can save money as in most cases short- and medium-term lending will be cheaper than the APR% of credit cards for example.

Property experts are predicting that mortgage applicants are likely to experience some difficulties being approved for loans.

The cost-of-living crisis is likely to mean than banks will introduce lighter more stringent checks when applying for home loans.

In particular this can affect the self-employed or directors who run limited companies, where salary is reduced and supplemented by a dividend.

It is clear based on recent announcements that lenders are starting to change criteria as a result of the significant increase in living expenses the country faces.

Beat Finance works with introducers and their clients to find the best solution in the quickest time to meet a client needs.

With property prices rising and it being tougher to take out larger loans our specialist lending team can help structure funding that makes sense and allows clients to achieve their goals.

We do this by understanding the depth of lenders we are on panel with. By working with key lenders, we offer flexibility supported by affordability to flex rates to meet individual circumstances.

It is important with rising base rates to manage your client expectations

Call or DM om of the team direct if you want to grow your income stream and deliver results for your clients whilst concentrating on your core business.

CHAIN FREE

Mon, 07 Nov 2022 15:39:44 GMT

CHAIN FREE

With there being a lack of available property stock in many areas and elongated completion timescales Chain Free purchases seem the ideal option.

Bridging plays a big part in delivering a solution when property becomes available ensuring that with higher demand and property being snapped up that property stock is becoming a premium in this area.

Speed is key and bridging allows your clients to complete in time scales that are not feasible using traditional means other than cash.

Bridging turns your client into a cash buyer instantly and ensures they can accelerate the speed of a transaction. It is clear that property sellers with a chain-free homes on the market can almost be guaranteed a quick sale.

This is where bridging especially helps if for example you need time to profile for the right mortgage.

With increasing mortgage rates we expect an upsurge in Chain Free stock and as a regulated broker our breath and depth of offering allows us to offer a service above and beyond the normal unregulated brokers.

An ageing population and empty nesters downsizing generates more housing stock and speed is key.

This is clearest in organising a bridge for Chain Free purchases and exit for regulated clients. Why let your client pass over the home of a lifetime because their property is stuck in a chain. By working with the team at Beat Finance we help to build the bridge to a better future and enable you to purchase that chain free houses whilst selling your current residence.

With wide market access our extensive network of lenders and bespoke funding lines enable you to build a bridge to the future.

Beat Finance keeps the property market moving and ensures it clients and its introducers do not get let down. If you have clients that you have nurtured for years but present you with problems you need help on then work with us to deliver the future they can achieve not dream about.

Call or DM on of the team direct if you want to grow your income stream and deliver results for your clients whilst concentrating on your core business.

Let us deal with your complex cases. We cover the whole of the UK and also offer ex-pat funding.

SAVING FALL THROUGH SALES

Wed, 19 Oct 2022 14:39:44 GMT

SAVING FALL THROUGH SALES

Fall-throughs refer to a property sale failing before completion. This can be various reasons ranging from chain breaks, survey issues or mortgage approval issues to name a few.

The value of these lost sales has been well reported in the press and although the pandemic saw an increase that has reduced it is still a feature on the property market. We expect this to increase with rising interest rates.

It is estimated that over the last 3 years that nearly 300,000 properties per year fall through.

Beat Finance recently helped a client exactly in this situation where a late risk was introduced that would have resulted in a client losing a cornerstone property that they had been planning to move to for some time.

Beat Finance were able to arrange a six figure bridging loan in less than 48 hours from instruction to payout by working with the clients, lenders, solicitors and Beat Finance’s inhouse team.

Our extensive network of lenders and bespoke funding partners enabled this to happen.

Beat Finance keeps the property market moving and ensures it clients, its introducers or their clients do not get let down.

Call or DM one of the team direct if you want to grow your income stream and deliver results for your clients whilst concentrating on your core business.

60e0234902b048e7a20d46f3ca7b1200

Legal Disputes

LEGAL DISPUTES

A Tomlin Order is a form of consent order used in the context of property disputes. It is an agreement between parties in a dispute that sets out the terms of a settlement, without the need for a court hearing or judgment.

TAX BILL

TAXING TIMES

Self Assessment Deadline passed but what if you have a large tax bill , you have submitted on time saved the fine for filing late but the tax assessed cannot go away.

MODULAR HOME FUNDING

MODULAR HOMES FUNDING

Modular homes have changed since the early 50’s prefabs. Todays modular homes are green , energy efficient and are constructed in a factory.

EXTEND YOUR LEASEHOLD

EXTEND YOUR LEASEHOLD

﻿

Rising prices are excellent for freehold but what about leasehold. The value of a property decreases as the leasehold shortens so how do you inject value into a shortening leasehold.

T he simple answer is by extending the leasehold.

MANAGING A DOWN VALUATION

MANAGING A DOWN VALUATION

The end result can be lenders not offering the full amount required your client the buyer. This often happens after commitments have been made and with the current market valuation lead times have extended.

Generally, down valuations come to light during the survey or when the lender asks the surveyor to proceed with caution due to cyclical market conditions that may lead to inflated market conditions.

It can also be as a result of more challenging property conditions such as :

Beat Finance can provide funding when others struggle due its understanding of the lending market on property.

You may find your client wants the seller to come to the party and reduce the asking price but this seldom happens.

You can search for another lender for you client but that takes time and the seller often loses confidence or it may be time sensitive and you feel you have very little options for your client.

So what can Beat Finance do to help – Believe it or not a lot and a recent transaction saw us support a downward valuation by a short term secondary loan enabling the deal to be completed on time.

If you have a client situation that needs specialist lending call Best Finance or DM one of the team direct.

RISING COSTS

RISING COSTS

Rising inflation and cost of living can make it harder for introducers to meet their client’s needs.

CHAIN FREE

CHAIN FREE

With there being a lack of available property stock in many areas and elongated completion timescales Chain Free purchases seem the ideal option.

Bridging plays a big part in delivering a solution when property becomes available ensuring that with higher demand and property being snapped up that property stock is becoming a premium in this area.

Speed is key and bridging allows your clients to complete in time scales that are not feasible using traditional means other than cash.

Bridging turns your client into a cash buyer instantly and ensures they can accelerate the speed of a transaction. It is clear that property sellers with a chain-free homes on the market can almost be guaranteed a quick sale.

This is where bridging especially helps if for example you need time to profile for the right mortgage.

With increasing mortgage rates we expect an upsurge in Chain Free stock and as a regulated broker our breath and depth of offering allows us to offer a service above and beyond the normal unregulated brokers.

An ageing population and empty nesters downsizing generates more housing stock and speed is key.

With wide market access our extensive network of lenders and bespoke funding lines enable you to build a bridge to the future.

Beat Finance keeps the property market moving and ensures it clients and its introducers do not get let down. If you have clients that you have nurtured for years but present you with problems you need help on then work with us to deliver the future they can achieve not dream about.

Call or DM on of the team direct if you want to grow your income stream and deliver results for your clients whilst concentrating on your core business.

Let us deal with your complex cases. We cover the whole of the UK and also offer ex-pat funding.

SAVING FALL THROUGH SALES

SAVING FALL THROUGH SALES

Fall-throughs refer to a property sale failing before completion. This can be various reasons ranging from chain breaks, survey issues or mortgage approval issues to name a few.

The value of these lost sales has been well reported in the press and although the pandemic saw an increase that has reduced it is still a feature on the property market. We expect this to increase with rising interest rates.

It is estimated that over the last 3 years that nearly 300,000 properties per year fall through.

Beat Finance recently helped a client exactly in this situation where a late risk was introduced that would have resulted in a client losing a cornerstone property that they had been planning to move to for some time.

Beat Finance were able to arrange a six figure bridging loan in less than 48 hours from instruction to payout by working with the clients, lenders, solicitors and Beat Finance’s inhouse team.

Our extensive network of lenders and bespoke funding partners enabled this to happen.

Beat Finance keeps the property market moving and ensures it clients, its introducers or their clients do not get let down.

Call or DM one of the team direct if you want to grow your income stream and deliver results for your clients whilst concentrating on your core business.

Let us deal with your complex cases. We cover the whole of the UK and also offer ex-pat funding.