Jump to content

Sourcing company/mortgage issues

Recommended Posts

Ive been looking into using a sourcing company to make my first couple of investments and have been trying to find out as much as i can regarding how they work and whether or not it would actually be a good option for me.  


Today ive been adviced by a well respected mortgage broker to not use a sourcing company, as lenders wont lend where there is a fee payable to a sourcer. 


Im not sure what to think now, because surely a lot of people using sourcing companies will be using a mortgage/s. 


Any thoughts on this would be really appreciated. 

Link to post
  • 3 months later...
  • 2 weeks later...

Update after I've seen the well-respected sourcing company; they know the mortgage brokers that can make the lenders understand the proposition. I guess it's unlikely that sourcing companies can survive off cash sales so the mortgage market has to work for them somehow!

Link to post
  • 1 month later...

Hi Simon

It was RMP I went to see. They haven't had an opportunity that fits my criteria yet so I can't report much more.

I have also been following WeSellBMV's emails and wonder if anyone has any experience of dealing with them or could recommend/warn against any other sourcers.




Link to post

I bought a property recently via a sourcer and ended up getting the mortgage from the bank with whom I have a current account.  They offered me a better deal than the mortgage broker recommended by the sourcer and there was no issue with the fact that the purchase was through a sourcing company.

Link to post
  • 3 years later...

Hi everyone, i know it was 2017 post and I wonder if using a sourcing company still an issue with mortgage lenders? I mean if the fee paid to the sourcing company covered by cash not put into mortgage, would it still be an issue? I assume lenders would not know if the property is from a sourcing company or an estate agency?

Anyone can share any views? Thanks

Link to post
On 8/11/2020 at 7:59 AM, Daryl Leeds said:

Hi. I think the concern is potentially over the property valuation being more suspect. There are plenty of lenders who don’t mind though - you just need a good broker. 

I thought the valuation is based on neibouring similar houses, can the sourcing company affect the lender's valuation? Sorry that it might be dumb question.

Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...