I'm talking about financial dates of course and some of the things you need to know.
If we firstly look at purchases, then you have to know three dates:-
- the contract date
- the finance date
- the settlement date
You need to be prepared for the finance date by asking about the processing times for the lender you have chosen, sometimes these times may place your purchase in jeopardy by way of penalty interest payments because you need to ask for extensions to the finance date. The settlement date is very important, you need to be in touch with your legal partner as they will tell you about the process on the day.
Secondly for refinances you will need payout figures for any credit facility you need closed and make sure you have the Discharge Authority completed early as it is usually the outgoing lender that holds things up.
Your broker plays a very important part in keeping an eye on these dates and it should form part of the limousine experience.
