Property Master Reviews 129

Having been introduced to Property Master and after watching their slick marketing videos, I had high hopes and expectations of what was to come.

In principle, the Property Master website and the search facility is well thought out and delivers all the Buy To Let mortgage products across the entire market in a clear and concise manner. You are able to tick all the relevant boxes and enter all the requested information to match your own particular circumstances and then hit ‘Search’. You immediately see a list of compatible lenders offering varying mortgage products and you select your most suitable choice accordingly. Simples, and so far, so good. The rest you would believe to be a formality to getting a mortgage offer without further complications. Unfortunately, in my instance, it was not quite the case.

After you request a product you would like to proceed with, you then begin the formal process of completing detailed application forms, a portfolio spreadsheet (if you are a portfolio landlord), an Income and Expenditure analysis, provide the latest tax return figures, tax return overview information and so on, which are all requested for completion by the PM broker. Only after all of these are completed, a mortgage “Decision in Principle” is then undertaken with a lender via the PM broker. After returning all of the information back to the PM broker, an application was duly submitted and I was advised that although I was clearly within the lenders mortgage criteria (which I knew I was as I had checked the lenders website before applying), my Credit Scoring was apparently low and therefore a mortgage offer was refused. This also happened with a further application with another lender. I was advised that an appeal was lodged for each of the mortgage refusals by the PM broker directly and that I would receive letters from the lenders regarding the appeal decisions, however, I did not receive anything at all.

Furthermore, when an application was submitted with yet another lender, I was somehow assessed by the lender as being a higher-rate taxpayer when proof of my historic tax returns clearly showed that I had always been a lower-rate taxpayer. The lender subsequently offered me a ‘higher rate’ product with a longer tie-in period of 5 years, instead of the lower-rate-2-year product which had appeared in the initial search results on the PM website and was actually what I had selected and wanted.

After spending the best part of 3 months in continual discussion with Property Master by e-mail and phone, I cannot fault the effort and communication from all the team at PM as they were clearly trying to help with matters but I personally would like to receive a ‘Decision in Principle’ obtained with lenders prior to submitting all of the documentation to potentially save a huge amount of wasted time and energy.

One critical point of PM’s website search that I found was the use of entering ‘Adverse Credit’. Even when I amended my previous searches to now include ‘Adverse Credit’, the search results yielded lenders that said “yes“ but ironically had already said “no” to mortgage offers. It would therefore appear that by selecting the ‘Adverse Credit’ it does little to the search results and is not to be confidently relied upon. You could therefore argue as it not being fit for purpose.

If like me, you meet the lenders criteria but fail on an internal low credit score by the lender, you may well find yourself end up feeling baffled by decisions, get very frustrated along the way and ultimately end up just calling it a day. Unless of course, you are prepared to concede to accepting more expensive and unwanted products, which is maybe just what lenders want you to do - who knows?!

One final note, and moving forward with constructive criticism, I really would love to see a system whereby a ‘live search’ is carried out by pulling an individuals data obtained from the Credit Reference Agencies in ‘Real-time’ which in turn would only show lenders that are actually willing to lend to the individual based on the live information held at the CRA’s. A bit like those on-line comparison websites, such as applying for a Credit Card, which shows you the likelihood of acceptance, or not as the case maybe. This would replace the current system whereby an individual has to apply to each lender via the broker separately which can be very laborious especially when you are unexpectedly declined an application which you honestly thought you would sail through. One for the future perhaps PM or is this just fantasy?

In the meantime, best of luck with all your mortgage searches and more importantly with your mortgage application - you may just need it!

Mark Webb

My buy to let re-mortgage went very smoothly, I went with the lender that gave me the cheapest repayment per month inclusive of fees. It was helpful, for accurate comparison purposes, to see online myself how much each lender's costs worked out pcm inclusive of the arrangement fees.
I re-mortgaged another of my properties 3 months earlier only to find out I could have reduced my outgoings if I had only become aware of Property Master earlier.
I will be using Property Master's services again in future.

Fantastic Service and special thanks to Claire and Gabriella. I remortgaged 4 properties at the same time and the process was not without its complications
Nevertheless the team professionally dealt with the issues professionally and efficiently . I will certainly use their services again
Phiip

Great service from Denise during the course of my application with BM Solutions. Denise was quick to respond to any query I raised. Many thanks!

From valuation to completion took 17 days with BM.

Very helpful and efficient I would recommend Property Master to everyone.

From the initial point of contact to the completion of multiple mortgages I have been very impressed with Property Master as my broker. They have kept all of their promises, resolved multiple problems and kept me up to speed with everything right up until completion of all my applications. I can highly recommend them. Needless to say I will continue to use them on all future mortgage applications.

I started out just to try PM as I was having doubts if it was indeed free. To my amazement, I was swept off my feet by their professionalism, hassle-free process, quick response time and no delay manner. This is the best and lowest cost re-mortgage I have done and it comes at no cost for me to PM (PM did not charge and the offer was the best I could get compared with the quotes I received). I was so happy with their services I introduced them to my colleagues and one of them started a re-mortgage process and is very happy with the process.

I will definitely use them again in the near future. I am very pleased with their outstanding service.

Excellent service from this company, would definately use again.

The team provided a fantastic service from start through to completion. Their BtL knowledge and experience is second to none. Many thanks Michael, Claire and Denise. Speak again soon!

Would recommend Property Master without any hesitations. The progress of my application was fairly smooth. However, I did have to chase things up fairly regularly myself with the solicitor .

Property master team was helpful during remortgage process. would use them again.

Good sensible and quick help with remortgage

No fuss and prompt service. 5 stars

Helpful in resolving valuation challenges

Communication with this company was excellent. The initial application form was very lengthy but I imagine necessary. They checked background information and got back to me with the most suitable lenders' products. I have other mortgages to sort in the near future and will not hesitate to use Property Master again...and again.

Extremely easy to use from start to finish. Would definitely recommend and will definitely use again.

Very pleased with service and the website

Superb company
Great staff really communicative and helpful
Thanks property master for all your help

Property Master have recently done two buy to let remortgages for me. They provided an excellent service and found me some great deals. Their mortgage search tool on their website is also very clever and allows you to experiment with your search criteria based on your portfolio details. I will certainly be using them from now on to all my new mortgage and remortgage deals. Highly recommended.

Responsive and professional team providing quick answers and options for Landlords.
Excellent product range offering and still happy with my 5th mortgage offer Property Master worked on!