All these entrepreneurs do what they are good at, doing business. We are proud to contribute to this. Briqwise has built up a lot of knowledge in the field of hospitality property financing and ensures that your money keeps moving.
We aim to achieve financing as soon as possible after receipt of the application. This can be achieved within a few days. However, this also depends mainly on the pace at which you provide the necessary information.
The first step in the application process is to fill in the details on the application form. After receiving this information, an initial assessment will take place within one business day and, if the policy is positive, we will send you a financing plan. If this funding setup is in line with your expectations, after receiving any missing documentation, we will further work out the file and our Letter of Consent will follow. This states all the terms and conditions of the financing. As soon as you sign this Consent Letter, we will contact our investors and they will be able to claim the funding. This is usually fast, but the period that stands for this varies and depends on the financing offered.
After an investor has claimed the financing, we start the notarial process.
Initially you only need to provide the most important information about the property to be financed. See the application form.
Later, we will require more information such as:
When the Financing Agreement is finalised and the Mortgage Deed completed, a solicitor will process your proof of identity and search the Land Registry for information on other mortgages and any restrictions.
Briqwise adheres to all requirements regarding the protection of data contained in the General Data Protection Regulation (GDPR).
Your property is financed by a Briqwise investor instead of a bank. The mortgage deed passes to the notary and you pay interest and repayment to the investor.
You can apply for financing on the website by filling out the application form.
If Briqwise’s evaluation of your application is positive, we will contact you to make an appointment. During the intake interview, we meet and discuss the property and your company. In preparation for our meeting, we’ll need you to provide information including annual financials (cash flow, profitability, solvency etc) an Income Tax Return and any publicly available information such as land tax.
If we both choose to move forward, Briqwise will prepare a quotation. After signing, we’ll prepare an Engagement Letter that contains information about you, the financing, and the property. Then we will make the financing available on our website and send the Information Memorandum to interested investors. If an investor makes a claim for your financing, an appointment will be made with a solicitor, after which you will receive your loan.
Then Briqwise will manage the loan and collect monthly instalments.
All financing costs for property buyers are listed on the fees page of the website.
Data concerning the property (photos, use, location, and the like) as well as the financing (loan amount, term, interest rate percentage, and the like) will be made available on the Briqwise website and will be accessible to anyone. An appraisal report, data about your company and personal information will only be provided to investors who have been accepted by Briqwise interested in providing finance.
Requirements may vary, but our team will guide you through the entire process and ensure that you meet all necessary conditions.
