Buy to let mortgages
Mortgage options for landlords
If you are considering becoming a Landlord, then there is a lot to think about. Recent industry changes to stamp duty, tax allowances and mortgage criteria have made it more difficult for the 1st time Landlord, yet few would deny there is still real opportunity for sound investments or capital growth in the medium to long term.
If you already have a portfolio of BTL property and want to either refinance or look at further property investments then we can guide on the best products to suit your requirements and give sound advice along the way.
Buy to let purchase
Becoming a landlord is not as daunting as it may once have seemed, in fact many owners become default landlords when they rent their existing home out and purchase a new onward property.
However others make plans to invest in property, effectively creating their own property business and build up a portfolio which provides an income and/or capital lump sums come retirement.
Whatever your needs if you want to become a first time landlord, add to or re-organise your BTL portfolio finances, we have the skills, contacts and knowledge to make it happen.
House of Multiple Occupancy (HMO)
Buy to Lets on HMO or (Houses of Multiple Occupation) property, is a more specialist area of Landlord lending. Typically these properties, have multiple persons such as students or professionals residing in them. Often, properties range from a 4 or 5 bedroom home to a larger block of 20+ self contained units.
Interestingly, there are more lenders entering this type of market, so choice is becoming larger, but so are the complexities and criteria of lenders.
We help to navigate through the process, advising on the best lenders for your individual circumstances.
Some landlords are expanding their portfolios by turning to property that they themselves can also benefit from.
Holiday Lets are a natural fit, with property in picturesque, desirable parts of the UK that provide decent rental returns in peak season, but that can offer personal use at other times.
Some Landlords see good year round rental returns from the Air B&B / TripAdvisor style city-break lets, these can still come under the Holiday let lending, and provide some personal use.
We have the industry knowledge and experience to place your Holiday Let property with a select number of lenders on these various scenarios.
CHARGES AND FEES
As with all other financial professionals such as accountants or solicitors, we charge a fee for our professional advice and service.
We understand everyones circumstances are different and our fee will be dependent on a clients requirements. Ultimately, we aim to get you the best deal possible. For UK based clients a typical fee is (£495) and for international clients we charge up to 1% of loan amount subject to minimum (£995).
Mr V C ( London ) A solicitor living in London but originally from Scotland. He owns and lives in his residential with a mortgage of £500,000 on a value of £1.2M. No other properties owned.
As Mr has strong family and business ties to Scotland, he wanted to step into property investment and become a 1st time Landlord. However he wanted to purchase in Scotland, and had identified a luxury 2 bed flat for £400K in Edinburgh City. Ideally he wanted to rent this property out on an AirB&B style basis but have occasional use of it when he would visit the city.
After speaking with us, a lender was sourced that would permit a Holiday Let mortgage with personal use, lending was based on the rental yield of the property alongside personal income affordability. Mr VC remortgaged his principle residential with a cap raise of £100,000 this along with £100,000 in savings would secure the new purchase with a 50% LTV of £200,000 on a value of £400,000.
Mr VC was pleased to complete on the purchase the following month and 2 months later, has had 12 weeks bookings through the year already secured on the flat, which more than covers his £200,000 annual mortgage payments on the property
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