The National Association of Professional Sourcing Agents (NAPSA) and SPV Mortgages have announced a strategic partnership aimed at tackling one of the biggest hurdles in property sourcing – finance.
This collaboration is set to revolutionise the property sourcing sector by providing sourcing agents and deal packagers with a reliable way to assess the finance-ability of deals before presenting them to investors.
Finance-related challenges, such as declined mortgage applications, are a leading cause of property deal collapse, resulting in wasted time and unnecessary stress for investors and sourcing agents alike. With this partnership, NAPSA and SPV Mortgages will run a one-year pilot scheme to identify key factors in successful financing and help create a smoother process for property professionals.
This initiative introduces a simple, streamlined process for pre-assessing the financing potential of property deals:
- Submit Your Deal Information: NAPSA-approved agents complete a pre-designed form with all relevant deal details.
- Viability Analysis: SPV Mortgages reviews the deal with their panel of financial partners
- Confirmation: SPV Mortgages provides feedback on the potential mortgage options, equipping sourcing agents with crucial insights to present investors confidently.
- Data Tracking: SPV Mortgages and NAPSA collect data from the pilot scheme to identify trends, challenges, and solutions in property deal financing.
This service is provided at no additional cost to NAPSA members, further empowering sourcing agents to deliver high-quality, viable deals to their clients.
Tina Walsh, Founder and CEO of NAPSA, shared her enthusiasm about the partnership. She said: “Finance is a critical component of getting deals over the line, and often causes major headaches when deals fall through due to finance being declined.
“Our partnership with SPV Mortgages is a game change for the property sourcing sector – we can start to learn and understand what may cause finance blockages or even failures, and what succeeds! This collaboration is not only about improving standards for the sector, but also about ensuring our professional sourcing agents have the tools to succeed in their business.”
Jonathan Veers, Founder of SPV Mortgages, added: “Off-market property presents unique financing challenges for investors and sourcers to overcome. Lenders frequently look upon private property deals with suspicion, and misunderstand the value of today’s sourcing agents in delivering professional results to investors.
“At SPV Mortgages, we’re experienced in connecting our clients with off-market friendly lenders who can help make any property transaction run smoothly. Working with Tina Walsh at NAPSA, we’ve been able to open doors which have previously remained closed to property sourcing agents.”
This innovative partnership aligns with NAPSA’s mission to provide credibility, professionalism, and compliance within the property sourcing sector. By focusing on improving standards and supporting approved members, this collaboration empowers sourcing agents to excel in their business whilst strengthening the market’s confidence in deals sourced or packaged by an agent.
The pilot scheme is exclusive to NAPSA-approved members, ensuring that only credible agents meeting national compliance standards can participate. This select approach not only enhances data reliability, but also reinforces NAPSA’s commitment to maintaining industry standards for the safety of both agents and investors.
To find out more about the pilot scheme and how to get involved, visit: www.napsa.org.uk/spv-mortgages-finance-property/
