Houses in Multiple Occupation (HMO) are usually considered more profitable than standard rental property but what exactly are they and how easy is it to finance them? Jeni Browne, expert buy to let mortgage adviser, explains.
Recently, we’ve received a number of enquiries from investors and business owners looking for larger loans to finance both commercial and mixed-use property. So, I thought I’d give you a flavour of what rates and terms you can expect to be offered in the current market.
When house prices are rising and you have tenants who pay the rent on time, being a landlord is exciting and rewarding. But, when house prices are steady and the economy has stalled, should you even think about becoming a landlord? Expert buy to let mortgage adviser, Agata Rogozinska shares her views.
Buildings consisting of shops and offices with flats above are typical examples of mixed-use properties. Both the commercial and the residential element can be let. But because there is a commercial element, these properties can’t be financed with a buy to let mortgage, as Asad Khan, expert commercial mortgage broker explains.
Changes to the income tax regime for residential landlords and stricter lending criteria as set out by the Prudential Regulation Authority is forcing landlords to review how they operate their property portfolios. For some owning and borrowing personally will be the most effective route, but for many, particularly those in the higher tax brackets, incorporation is the answer.
Jeni predicts what she thinks will happen to the residential mortgage market in 2019 including what borrowers can expect in terms of pricing, when to remortgage and the increasing options for borrowers over 65!
How businesses and commercial property investors have given up talking directly to their bank and are using brokers to find them a better deal—with the same lender!
Income tax relief on buy to let mortgage interest is being restricted but is it more tax efficient and financially better all round to operate your portfolio using a limited company? Buy to let expert Gavin Richardson compares the options.
Looking to maximise your borrowing? Find out how one high street lender has relaxed its criteria to help…
On Friday 30 November, like many other mortgage advisers across the country, Gavin Richardson slept rough to raise money and awareness in support of End Youth Homelessness. Here’s how he got on, what he learned and how much he’s raised so far.
Q&As from our Buy to Let Mortgages for Limited Companies webinar.
Just! Remortgaging your home or your buy to let? Jeni Browne explains what you need to do to be in with a chance of completing before the end of the festive period.
UK homeowners are staying put for nearly two decades, choosing to home-improve rather than move, according to a recent report from Barclays. But what is the best way to pay for these renovations? Erin Gallacher discusses.
The last seven months have gone past at the speed of sound. That’s how long it’s been since I gave you an update on my other job – that of buy to let landlord! It’s been pretty eventful to say the least.
Average yields have continued to rise for multi-unit freehold blocks (MUFBs) but what exactly are they and how easy is it to finance them? Gareth Richards, Consultant Mortgage Broker explains.
We get lots of landlords asking us about incorporating their buy to let portfolio. In this article, I’ve tried to answer the most common questions landlords ask when making the decision to incorporate.
It’s relatively easy to get a buy to let mortgage on a bog-standard house or flat but as soon as you wander away from the norm getting finance can be tricky although not always impossible. As Gavin Elley, expert buy to let mortgage adviser explains.
Jeni Browne, Sales Director offers a quick recap on her recent webinar - Buy to let borrowing update for portfolio landlords.
The penny has finally dropped. Lenders are beginning to treat existing customers as well as new ones. But how will you know if you’re getting the best deal? Jeni Browne explains what you need to know…
Paul explains what buy to let lenders will and won’t accept as a deposit when borrowing via an SPV Ltd Company
The exponential rise of AirBnB and similar sites is encouraging landlords to diversify into holiday lets as the returns can be considerably higher than buy to let. But how do you finance these properties and will your existing BTL lender allow you to switch income model? Here are the answers to the questions we get asked most frequently.
From 1 October you might not be able to get a buy to let mortgage if your HMO doesn’t comply with the new rules, as Jeni Browne explains.
An important reminder to landlords. Don’t be the reason your application gets held back.
From 1 October the extended Mandatory HMO Licensing scheme will include two new conditions. New minimum bedroom sizes and rules for the disposal of waste. Here’s what you need to know.
The Mandatory HMO Licensing scheme is being extended. Are you and your HMOs affected? Find out here.
Different rates of stamp duty apply depending on whether you are purchasing residential, commercial or mixed use property but how does this tax influence your investment decisions? Andy Elley, expert commercial mortgage broker compares the options.
Think you know the maximum amount you can borrow when mortgaging or refinancing your buy to let? Think again. Expert mortgage adviser, Andy McOwat, shares his tips for eeking out a little bit more.
Looking to finance a second home? Expert mortgage adviser, Erin Gallacher, explains the options for purchases and remortgages.
Need to carry out work to a property before it can be let, but don’t want to pay valuation and legal fees for both the bridging finance and the subsequent buy to let mortgage? We have a solution…
For a long time, no lender would touch this. Thankfully times have changed, as Jeni Browne explains…
Have you been declined finance due to the gearing on your background portfolio? Gavin Richardson Head of Sales highlights a mortgage product which has proven extremely popular with portfolio landlords facing this problem…
Looking to purchase a commercial property using your self-invested personal pension? Robin Tait highlights the potential benefits of acquiring commercial property in this way, discussing rates and terms along the way.
According to a recent article in The Sun, buy to let landlords are on the verge of facing another hike in stamp duty. What are the chances of this going ahead? Jeni Browne, Sales Director offers her opinion…
Think you can’t get finance? Think again… Nick Helm explains why age is no barrier when it comes to property investment.
Good bye 0.5% Bank Rate. Hello 0.75%. What does the rise mean for your mortgage payments and how will it affect future pricing? Jeni Browne explains…
You’ve been running your business as a sole trader. But now you’re trading through a Ltd company. Can you get a mortgage if you don’t have a full year’s accounts under the new structure? YES! Pete Coombes, expert residential mortgage adviser, explains how.
Entering the property market and looking to borrow via a Ltd Co? Everyone has to start somewhere, but just how easy is it to to get a Ltd Co buy to let mortgage if you’re new to the sector?
Just a reminder that the Bank of England’s Monetary Policy Committee meets tomorrow to vote on whether to move Bank Rate. Their decision will be announced at midday on Thursday 2nd August.
Buying at auction can be pretty fraught. With a lot of money at stake and a tight time frame, preparing beforehand can make the process less stressful and more successful. Here are my seven tips for smoother experience.
You’ve got your sights set on buying a property that’s soon to be auctioned. But you need finance. How much can you borrow? And how quickly can you get the funds released? Gareth Richards, consultant mortgage broker explains.
New buy to let borrowing is expected to decline this year as landlords get to grips with stricter regulation and a harsher income tax environment. But is the market as depressed as many headlines would have you believe?
Is it a strategic business move? Will you be accepted for finance? How much will you be able to borrow? Glenn Franklin-Jones, consultant mortgage broker explains…
Jeni Browne raves about two new rates and demonstrates how they can be used to buy and renovate a property and generate sufficient profit for your next project.
The gap between the best fixed rate mortgages and lenders’ SVR has more than quadrupled according to the Financial Conduct Authority. Jeni Browne explains why this is not good for 2 million borrowers.
Think you can’t get a mortgage? Think again… Erin Gallacher, consultant mortgage adviser, dispels some of the common myths in part two of her “popular mortgage myths dispelled” series.
Good news for landlords looking to maximise their gearing. There is now another buy to let lender who offers borrowers up to 85% loan to value and Mortgages for Business is one of only five brokers who have been given access to these special rates.
Only available via five intermediaries, including Mortgages for Business, we are delighted to be able to offer customers the chance to borrow up to six times their income.
Top slicing has increased in popularity and when applying for a buy to let mortgage can be a good substitution for a shortfall in rent but it doesn’t work for everyone - Portfolio Landlords, especially…
Gareth Richards, consultant mortgage broker looks at pricing, property types and lending criteria for first-time commercial investors.
Getting a large mortgage when you have multiple and complex sources of income is not always straight forward but it is possible - if you know which lender to approach – as residential mortgage adviser, Charlie explains.
Friday last week saw the launch of two very competitive buy to let mortgages. Both rates are limited edition, meaning the lender has a set amount of money available for these products. Once the money is gone, it’s gone!
For a long time if you were a landlord operating in Scotland your buy to let mortgage borrowing options were fairly limited. Only a few lenders were keen to lend north of the border. Today, all that is changing as Gavin Elley, specialist buy to let mortgage adviser, explains.
Mandatory licensing of HMOs and new minimum room sizes come into effect on 1st October 2018. Landlords looking to remortgage or purchase HMOs need to know how the changes will impact their financing ambitions.
The sun is shining. It’s the time of year when home-owners and landlords start thinking about improving and adding value to their properties. But what is the cheapest way to pay for improvements? Gavin Richardson, looks at the options?
When I last updated you on my endeavours as a landlord, I was positively oozing smugness at how swimmingly it was going. Friends, I am smug no more...
A mortgage is probably the biggest financial commitment you will ever take on but where should you go for advice? How do you start looking and how can you be sure that you made the right choice when there are thousands of options available? Pete Coombes has some answers.
Erin Gallacher, residential mortgage adviser looks at the benefits of overpaying your mortgage and the implications of doing so.
Many experts predict that the base rate will be raised in May and this could be followed by further rises in the months to come. If hikes do materialise, will your monthly mortgage payments rise? Will you be able to afford it?
Expert commercial mortgage broker, Gareth Richards, identifies three common uses of short-term finance and tells you what you can expect in terms of rates, fees and time-scales.
We have seen a pick-up in enquiries from residential landlords looking to move into commercial investment, with a particular increase in those looking to purchase a semi commercial property e.g. shop with flats above. In my opinion, there are two strong reasons for this activity...
Is buy to let still a healthy market? Paul Martins offers his opinion on how the market has reacted to the rules, regulations and restrictions brought in by the UK Government
Whether you are looking for an commercial owner-occupier mortgage or a commercial investment mortgage, knowing which lender to approach can be tricky. That’s where we come in... Gareth Richards, consultant mortgage broker gives you an insight into his decision-making process.
We are often asked what income does a limited company need to show to qualify for a buy to let mortgage? It depends on the type of company and the circumstances of the directors and/or shareholders. Let me explain…
In 2017 buy to let lending totalled £34.9bn, just shy of the £35bn best-guess we predicted. The figures were published by UK Finance, the new body which has replaced the Council of Mortgage Lenders.
Are you looking to expand your business? Perhaps you are looking to purchase a new premises, or you need funds for refurbishment. Andy Elley, Head of Commercial Mortgages, explains how we can help business owners achieve unsecured loans up to £10m.
Whether you’re looking to remortgage, move to a new house or take your first step onto the property ladder, there has never been a better time to consider taking a 10 year fixed rate mortgage, as Gavin Richardson, Head of Residential Mortgages explains.
This is one of the most commonly asked questions we get from landlords who are looking to expand their portfolios, as Jeni Browne explains
How Paul Martins, Head of Buy to Let, helped his client raise capital and reduce monthly mortgage payments by over £150 pcm.
1.39% (5.6% APR)* - This headline rate looks impressive doesn't it? There's no denying that for some, this rate would work well. Calum Obbard-Banham, Consultant Mortgage Broker explains why a great headline rate doesn't mean the cheapest rate.
Mortgage applications from British passport holders living or working abroad are on the increase. Emma Knapp, expert mortgage adviser, explains what expats need to know to get the mortgage they need.
The Governor of the Bank of England expects interest rates to rise more quickly than he previously anticipated. Jeni Browne looks at the potential impact on borrowers and suggests what they can do to protect themselves.
Buy to let mortgage lending figures for 2017 are out. Steve looks at their impact on the market and predicts how landlords and lenders will react over the next few months.
Expert commercial mortgage broker, Paul Keddy, identifies three common uses of short-term finance and tells you what you can expect in terms of rates, fees and time-scales.
New legislation is coming which will put the onus on landlords to ensure their properties meet minimum standards of energy performance. Chris Longhurst, expert buy to let mortgage adviser, hints at what to expect and points landlords towards how to take action.
Paul Martins, Head of Buy to Let hand-picks his top 6 buy to let mortgage rates for individuals and limited companies.
Did you buy a BTL property just before the introduction of the stamp duty surcharge? Yes? If you took out a 2-year buy to let mortgage, now is the time to remortgage onto a better product to avoid paying your lender’s more expensive Standard Variable Rate each month.
Looking to purchase or refinance a care home? Andy Elley, Head of Commercial, looks at the funding options available including the rates you can expect to receive...
Buy to let lending is shrinking. In 2017 the overall lending figure is likely to sit at around £35bn. That’s about a 14% reduction on the year before.
If you need to maximise your borrowing, we have direct access to a very special, limited edition range of residential mortgages which are available up to six times your income. Yes, that’s right, SIX times income. Compared to other mortgage lenders, this is unheard of as the majority cap their income multiples at 5 x income and some at even less than this figure.
Current availability of finance for new build property developments.
What do landlords think of the new buy to let landscape? Do they intend to keep on landlording? Is that even a word? Chris Longhurst, expert buy to let mortgage broker, shares a few thoughts and opinions of some of his landlord clients.
Back in 1990, mortgage interest rates peaked at an eye-watering 15.4%. Compare that with today’s rates, some as low as c.1%, and it’s not difficult to appreciate that home-owners have had it pretty good over the last 10 years. But, in the words of Bob Dylan, the times, they are a-changing…
The introduction of a stamp duty discount for first-time buyers in the Autumn Budget 2017 is generally welcomed. Simon Whittaker, CFO, looks at what this means practically, for those looking to take their first steps onto the property ladder.
The housing market has slowed, not least because of changes to stamp duty. Emma Knapp, expert mortgage adviser, considers the pros and cons of cutting out stamp duty for those looking to take their first steps onto the property ladder.
The Autumn Budget 2017 will be announced on 22nd November and already there are rumours that the Chancellor plans to reduce the annual pension contribution allowance, the lifetime pension allowance and tax relief on pension contributions. If any of these reductions happen, you might consider buy to let as an alternative pension strategy to boost your income in later years. Here are some pointers to bear in mind if you thought you might not qualify.
Funding solutions to help buy or refinance a pub are available whether you’re an experienced or would-be publican, an investor or developer. The challenge to getting pub finance is more about knowing which lender to approach and how. That’s where a specialist commercial mortgage broker can help, as Andy explains.
The Bank of England has signaled that there may be two further increases in the base rate in the next three years, so is now a good time to get a fixed rate buy to let mortgage? Paul Martins, Head of Buy to Let, gives his view.
The noise around the Bank of England base rate rise is drowning out the bigger problem of recent swap rate changes according to David Whittaker...
With a rise in Bank Rate looming, it is no surprise that lenders are starting to increase pricing. Jeni Browne, Sales Director highlights some of the best buy to let rates available for those looking to remortgage and take advantage of the all-time low pricing before it’s too late…
The record low mortgage rates are starting to disappear. Beckie Pepperrell, Head of Residential looks at which lenders have already started pulling rates and what options are still available for those looking to fix.
A traditional business bank takes up the fight on encroaching challenger banks resulting in some competitive commercial mortgages. Even buy to let landlords want a piece of the action, as Andy Elley explains.
The end of September has come and gone and now, landlords with four or more mortgaged buy to let properties will find that the mortgage application process has changed, as Jeni explains.
Rate changes, criteria amendments and changes to regulation. What is in store for borrowers for the rest of 2017? Beckie tells it how she sees it for home-buyers and movers.
Andy considers how the more commercial lenders are interpreting the new PRA guidelines when underwriting buy to let mortgage applications from businesses that fall into the portfolio landlord category.
Expert broker, Andy Elley, explains how and why commercial mortgage terms are usually shorter than the mortgages offered to home-buyers.
The sector has survived the first tranche of changes better than expected. Opportunities still exist, if approached with a new mindset David Whittaker explains...
As with any finance, it's possible for borrowers to 'cut out the middle man' by applying directly to a lender, so why do so many developers go via a broker instead? A skilled broker provides real benefits at every stage of the process, as Paul Keddy explains...
If you don't own your own home but you want to get into buy to let, there are only a few borrowing options, as Nick Helm, expert buy to let mortgage broker explains.
Following on from my last blog where I pontificated about doing my own accounts so that I could understand the process, on the Friday before August Bank Holiday, with just five working days before my deadline and me having made the sum total of ZERO PROGRESS on getting anything together, I cracked and called an accountant.
In future, landlords may struggle to get buy to let finance if the property does not have the correct Energy Performance Certificate rating, as Paul Martins, Head of Buy to Let Mortgages explains.
As the name suggests, let to buy is a type of finance which allows you to let out your current home and buy a new one to live in. Beckie Pepperrell, Head of Residential Mortgages, explains how it works and why you might want to use this type of finance.
At this stage in the process, there was very little left for my brother and I to do. It was a little surreal - we were buying our first house, one of the most important milestones in our lives to date, and yet we seemed to be little more than passive observers to the process.
The next raft of PRA (Prudential Regulation Authority) or Painfully Robust Administration changes are almost upon us as Chris Longhurst, consultant mortgage broker, explains.
Fixed charges. Floating charges. Debentures. Personal guarantees. Steve Olejnik, COO, explains what type of security lenders may require when the borrowing is made by landlords using a limited company.
Being a landlady has really proved to be quite lovely. More than a year in and I have had no issues. If Carlsberg made tenants, they would probably have made mine.
Think you might want to pay off your mortgage early, but don’t want to be stung with an Early Repayment Charge? Nick Helm looks at the current options available to buy to let landlords borrowing personally and via a Ltd company.
It can be difficult for landlords to remortgage within six months of purchase let alone maximise borrowing, so it’s refreshing to see that Keystone will lend more than most in these scenarios. Here’s how…
We have now heard from four lenders on how they intend to approach the specialist underwriting requirements for portfolio landlords come October when the second part of the PRA’s new regime kicks in.
Currently on the lender’s reversion rate? Coming to the end of a specific fixed or variable rate? Simply want to know quickly if you could reduce your monthly mortgage payment? Read on…
Think you can’t get a buy to let mortgage because of your age? Think again…
It’s been some time since I’ve had time to write about it, but my efforts to purchase a house have continued since my last blog in June. In this episode, my brother and I enjoy a great deal of waiting and some brief moments of worry...
With more employees offering zero-hour contracts than ever before it is no surprise that the number of enquiries we receive in this regard has risen. Pete Coombes, residential mortgage broker explains what options are available to those employed on this basis.
From October 2017, lenders are required to apply a specialist underwriting approach to buy to let mortgage applications from portfolio landlords. In practice this means that you will have to provide lenders with much more detailed information when applying for a mortgage, even if you want a simple remortgage.
As of 1st October 2017 lenders will need to implement a more thorough underwriting process when considering mortgage applications from portfolio landlords, i.e. where the borrower has, or will have more than four mortgaged residential buy to let properties.
Last seen on the market prior to the 2008 credit crunch, Paragon Mortgages has re-introduced its “Forward Funding Facility”.
Do your landlord clients know about limited company buy to let borrowing and the new underwriting guidelines for lenders lending to portfolio landlords? David Whittaker has been out and about meeting landlords and has found that many are still unaware of the changes to the buy to let landscape...
We’ve been waiting months to provide you with details on exactly what lenders will require from portfolio landlords come October, and at long last two lenders have broken the silence…
Gary McKenna, consultant mortgage broker explains why portfolio landlords should review their mortgage arrangements before the summer is up!
It's probably the biggest financial commitment of your life so far, so here are my top tips to help you steady the ladder before stepping up.
Jeni Browne, Sales Director looks at how the mortgage market has changed since she started out in broking and explains why it is now more important than ever to make sure you are seeking advice from a specialist broker.
From the 30th of September, lenders must implement changes to the way in which buy to let mortgage applications are underwritten for portfolio landlords. Paul Martins, consultant mortgage broker explains who will be affected and what can be done to prepare.
Jeni Browne discusses the pros and cons of the two primary borrowing options for business owners who are looking to invest their company’s cash in buy to let property.
Come 30 September 2017, the Prudential Regulation Authority expects buy to let lenders to adopt a “specialist” underwriting process when assessing a portfolio landlord’s borrowing suitability. Exactly what those processes will be, brokers and borrowers don't yet know, and time is running out for us to prepare...
Catch up on Graeme's journey into becoming a home-owner. This week he faces the sneaky tactics of his estate agents, appoints a solicitor and has to decide whether to own the house as joint tenants or tenants in common.
Credit score, credit rating, credit profile, Experian CreditExpert, Equifax ClearScore, Callcredit Noddle, who’s who, which is which and why bother? Consultant mortgage broker Charlie London explains the part that these agencies play when lenders are assessing your mortgage application.
You’ve decided to borrow via a limited company, but will you get accepted for a mortgage? Gary McKenna consultant mortgage broker explains what lenders are looking for when it comes to applications from limited companies.
Jeni explains what residential and buy to let mortgage lenders count as income if you're self-employed or the director of your own business.
Businesses and investors might want to have a CAMPARI and ICE before applying for commercial property finance.
It would be impossible to cover every single piece of buy to let mortgage lending policy which sits around limited companies but what I wanted to do was put to bed some myths.
Our story resumes where we left off, which is to say immediately after my brother and I decided to put in an offer on a house.
Are you a first-time buyer looking to secure your first mortgage? You are not alone. I too am setting foot on the property ladder for the first time. In the coming weeks I will be chronicling my experiences here, in the hope of helping others as I strike out towards homeownership.
Paul Martins, consultant mortgage broker looks at options available in the current market and considers the pros and cons of these longer term rates.
Offset mortgages are popular and commonplace for home-owners because they can reduce monthly payments and help to pay off the mortgage early. But an offset buy to let mortgage? As far as I know, there is only one currently available. I doubt it will be around for long, so take a look now.
Trying to borrow as much as possible? Then you may want to consider this limited edition buy to let mortgage. It’s a particularly attractive rate for basic rate tax payers looking to borrow personally and landlords borrowing via a limited company.
Jeni Browne explains how one landlord used income from her day job (not rent) to boost the amount she could borrow when remortgaging her buy to let property and save c£6,000 over two years.
Is your initial rate period about to finish or are you already paying the BM Solutions' higher reversion rate? Are you struggling to remortgage elsewhere because your rental income no longer meets lenders' stricter Rent to Interest calculation?
Simon Whittaker answers the most commonly asked questions around SDLT - including information on mixed use properties and non-residential Stamp Duty rates.
If you are a residential landlord looking for a buy to let mortgage of more than £1m on a single property, you’ve come to the right place. Jeni chooses some of her favourite competitive options available and looks at some case studies which demonstrate how we've helped landlords borrow larger sums...
The short answer is yes. As you would expect there are a few things to bear in mind as Andy McOwat explains...
A year on and Jeni Browne, Head of Sales explains how her life has moved on and she now rents out her former home. Find out how...
David Whittaker gives his run down of this year’s Great Buy to Let Debate, an event attended by a couple of hundred industry professionals including lenders, brokers, surveyors and letting agents – even the regulator was in the room!
Residential mortgage adviser, Beckie Pepperrell, looks at how lenders assess your income the closer you get to official retirement age.
Lots of people think that they can’t get a mortgage for lots of different reasons. Erin Gallacher, consultant mortgage adviser, dispels some of the more common myths and tells you how to improve your chances of getting a mortgage.
In April 2018 new EPC rules for rented properties come into effect as Chris Longhurst, consultant mortgage broker summarises.
Jeni Browne, Head of Sales hand-picks her favourite rates taking into account the differing needs of landlords and property investors
We blog extensively about the ever-changing world of buy to let finance but perhaps every so often we should consider other factors in the life of a landlord in the private rented sector (PRS). In this blog, I’ve provided an overview of the latest landlord licensing requirements in the four countries that make up the UK.
It is now just over a month since the changes to affordability checks, and in particular the stricter rent to interest calculations, were introduced by the Prudential Regulation Authority. But has much changed? Paul Martins, consultant mortgage broker, investigates.
The Government has acknowledged that Britain’s housing market is broken and has published a White Paper aimed at tackling the crisis. Steve Olejnik looks at what this means for SME builders and property developers.
David Whittaker explains how he is pleased to see that the majority of buy to let lenders have adjusted their affordability calculations, but brokers need to be ready for these changes to affect the shape of the buy to let mortgage market.
Admitting that the UK housing market is ‘broken’, the Government’s new Housing White Paper sets out a series of initiatives to support and diversify the housing market in order to create the type of homes that people can afford and in places they want to live.
It is becoming apparent that there are still some residential landlords and brokers who are not aware of the full impact of the forthcoming changes to how income tax will be calculated. In particular, basic rate tax payers could find themselves being tipped over into the next bracket, as Gavin Elley explains.
A topic that appears to be giving some lenders a major headache is the issue of an applicant owning a leasehold title of a property and also owning (all or in part) the freehold title too – this also extends to close family members.
If you are a residential landlord looking for a buy to let mortgage in excess of £1m on a single property, how easy is it to find a suitable lender? Nick Helm, consultant mortgage broker, explains.
Many landlords are now becoming more comfortable with buy to let borrowing via a limited company including the few additional hurdles this brings. However there is still a perception that the process is complicated and harder to get agreed but this is not always the case, as Gary McKenna, Consultant Mortgage Broker explains.
In 2016 we were lucky enough to witness the lowest mortgage rates we have ever seen. Will this trend continue in 2017 or will prices start to rise? Erin Gallacher, consultant mortgage broker offers her opinion.
In 2016 we saw many of the high street banks continue to restructure and downsize their offerings to SMEs. But how has this affected companies trying to get a commercial mortgage or refinance their business premises? Andy Elley explains.
Most lenders have heeded the PRA’s new guidelines, which means brokers have a lot of work to do to get up to speed
Stricter regulation means that lenders are looking more carefully at your mortgage application than ever before, so it makes sense to be prepared. Here are my tips on what you can do to ensure that your buy to let mortgage application isn’t held up but it’s worth noting that much of the advice stands for all types of mortgage including residential and commercial.
Want to know how much you can borrow? Chris Longhurst, consultant mortgage broker explains what you will need to provide us with going forwards.
Not all mortgage lenders accept applications from landlords with four or more mortgaged buy to let properties, irrespective of whether they receive an income from the rents. So what are the options? Beckie Pepperrell explains.
Apply for a buy to let mortgage NOW before stress tests and income cover ratios get tougher.
If you’ve been thinking about taking the plunge and have decided that 2017 is your year to enter the buy to let market or you are considering what else, you could do to compensate for the record low returns on cash investments and savings, the following paragraph may help you decide and the rest of the article may just get you started…
Using websites like AirBnB has become very popular with home-owners, holiday home-owners and buy to let landlords. But what do the mortgage lenders think of this growing practice? And are you in breach of your mortgage terms? It’s important to know where you stand, as Jeni explains.
How Jeni Browne, head of sales saved her client over £10k a year by remortgaging his entire portfolio.
Last week we saw another mainstream lender, Santander, announce that it is moving its rental coverage requirements upwards in response to forthcoming affordability assessment changes required by the Prudential Regulation Authority.
Andy McOwat, consultant mortgage broker, looks at the options available to landlords looking for a buy to let mortgage on a rental property in Scotland.
Limited company borrowing for buy to let has become quite en vogue of late and for good reason, but before we look at what has thrown it into the spotlight, let’s go back a little bit, because actually, it has been knocking around for a long time.
Buy to let mortgages with generous Rent to Interest calculations are disappearing fast. Come 1 January 2017 lenders will be required to RTIs for landlords borrowing personally. Jeni explains why and reveals some buy to let mortgages rates which have a more generous cover ratio.
Gavin Elley, consultant mortgage broker looks at why landlords with four or more rental properties are being singled out in the PRAs consultancy paper on buy to let underwriting standards and what this means for you.
Chris Longhurst, consultant mortgage broker explains what the Government’s latest consultation on HMO and residential property licensing reforms means for landlords.
Gavin Richardson explains what the options available to you are if you are looking to help your children buy a home.
Beckie Pepperrell explains how lenders assess how much a contractor can borrow when applying for a mortgage.
Jeni Browne explains why she thinks fixed rate mortgages are more likely to rise than fall in the coming months despite the cut in Bank Rate.
Paul Martins explains why you have until the end of the year to raise capital against a low-yielding property you own personally.
Steve gives his views on what the implications of tougher interest cover ratios and increased background checks will mean for landlords and buy to let lenders.
A quick yet important reminder to landlords to make sure they have their latest SA302 from HMRC when making a buy to let mortgage application. Gary McKenna, consultant mortgage broker at Mortgages for business explains why.
Jeni Browne, head of sales, reiterates how changes to lenders’ rent to interest calculations are limiting how much landlords can borrow personally and what they can do about it.
With lower property values and often lower loan requirements, some landlords believe it’s more difficult to get a buy to let mortgage on property in the North. Fact or fiction? Buy to let mortgage broker Gavin Elley calls it as he sees it.
With whole of market access we really do have our pick when it comes to lenders. So how do we decide which one to use? Chris Longhurst looks at Foundation Home Loans’ key features and explains when he might approach this lender for finance.
And no… it isn’t just because they share an office with us! Gary McKenna shares some key points on why landlords should pay attention to this specialist lender.
Simon Whittaker takes a look at buy to let stepped mortgage rates and explains why you might be better off taking out a step-down rate instead of a step-up from a tax perspective.
Jeni Browne, Head of Sales has something different for you – it won’t be for everybody but its got legs.
Jeni explains how reviewing the financing of your buy to let properties could save you money and help you to expand your portfolio. And she offers you a complimentary review...
Jeni Browne, consultant mortgage broker looks at the different variable rates available on the market and explains why not all of these will be affected by Bank Rate.
So Bank Rate has been cut to 0.25%. This means mortgage rates will go down too right?... wrong. Nick Helm, consultant mortgage broker explains…
Since the cut to Bank Rate to 0.25% was announced we have been inundated with calls asking what this means for mortgage rates. Steve Bedford, consultant mortgage broker answers your questions…
If you are purchasing a property that needs light refurbishment before it can be let but don’t want to fork out for hefty monthly repayments or redemption fees there is a solution as Nick Helm, consultant mortgage broker explains…
Jeni Browne, Head of Regulated and Buy to Let Lending hand-picks her top 10 buy to let mortgage rates for Limited Companies
You’ve decided you want to remortgage your property to ensure you don’t miss out on the 125% rent to interest (RTI) calculation but you don’t want to pay any ERCs on your existing buy to let mortgage… Beckie Pepperrell explains how you can get round this if your current initial term is due to expire in the next six months.
Paul Martins, consultant mortgage broker looks at what your rental income would get you today in terms of borrowing compared with six months ago.
Borrowing personally or via a limited company – up until recently it wouldn’t have made much of a difference when it came to lenders’ stress tests but this is all changing. Gary McKenna explains how much you will be able to borrow going forward.
Jeni Browne, Head of Regulated and Buy to Let Lending hand-picks her top 10 buy to let remortgage rates for individual applicants.
Gavin Elley, consultant mortgage broker explains what all the fuss is about when it comes to increasing stress test calculations for buy to let mortgages.
Paul Martins, consultant mortgage broker looks at current age restrictions in the buy to let space and explains what you can do if you’re an older landlord who feels like you’ve been locked out of borrowing due to your age.
Getting a mortgage and remortgaging the family home when getting divorced can seem complicated particularly if you don’t know how much you might be able to borrow. But if you understand what the lenders are looking for, it can be fairly straightforward as Jeni explains.
These days it’s much harder to get a residential mortgage on interest only terms. You have to jump through more hoops but it is possible, as Beckie explains.
Gary McKenna, consultant mortgage broker at Mortgages for Business looks at the role of swap rates in determining fixed rate mortgage pricing.
Beckie Pepperrell explains what the credit reference agencies do and how lenders use them to establish your creditworthiness. Then she looks at how to get a mortgage if your credit profile is less than perfect.
Gary McKenna, consultant mortgage broker, highlights why it is now more important than ever to consider a five year fixed rate.
Jeni Browne, head of residential and buy to let lending looks at how you can protect yourself in this period of economic uncertainty.
Did you know that there is more than one type of bridging loan? Jeni Browne explains the different types, their uses and looks at how to qualify for this type of loan.
If you need finance in a hurry but don’t like the rates associated with bridging loans, there is an alternative but you have to be organised. Andy Elley explains.
How landlords will vote in the EU Referendum is anyone’s guess but there is a definite air of procrastination amongst them.
Jeni Browne, Head of Residential & Buy to Let Lending, explains why you would choose a very competitive 10 year fixed rate offset mortgage
Yes, we are all bored of talking about the EU Referendum and most people just want it over and done with now. But I am never one to let something like this stop me jumping on the bandwagon!
Jeni Browne, head of sales answers some of the top questions asked by self-employed people, contractors and business owners looking to get a mortgage.
With the lack of housing in the UK it is no surprise that the number of people looking to get into property development is on the rise, but how complicated is it to get finance for these projects? Gary Mckenna, property finance expert explains.
Hold up with your application? James Bolton, Head of Case Management highlights the top reasons why borrowers unwittingly cause delays to getting their buy to let mortgage completed. Find out what you can do to keep your application on track.
In simple terms, a stress test is the calculation lenders use to determine how much they will lend to the borrower. Here is an explanation of how it is calculated, why the the calculation is getting tougher and what the change ultimately means for borrowers.
An explanation of fixed and floating charges and debentures and how they relate to lending on investment property.
An overview of the specialist buy to let lending market post-stamp duty deadline. What is business like now and what does the future hold? Steve Olejnik, Sales Director at Mortgages for Business gives his assessment.
We were delighted to see Nationwide’s recent move to extend its maximum age on a mortgage to 85 years for residential borrowers.
In very basic terms, top-slicing is where the lender uses the borrower’s personal income to top up any shortfall in rent which is needed for the borrower to obtain the loan amount they require.
Ever since George Osborne's announcement last July, lenders have been considering what changes to make to reflect the future reduction of landlord tax relief.
Understanding how lenders assess affordability of self-employed borrowers applying for a residential mortgage.
Are holiday lets profitable? What mortgage rates are available from lenders? What deposit do I need? Andy Elley, consultant mortgage broker explains.
In typical TMW style, the second largest buy to let mortgage lender has again led the way - this time in reacting to the up and coming tax relief changes for landlords.
Unsure if you want to lock into a fixed rate? Or perhaps you are considering borrowing via a limited company, but still have some research to do before you make your decision? Jeni Browne, Head of Buy to Let and Residential Lending explains why this rate could be worth considering if these questions apply to you.
March was an extremely busy month for the buy to let industry as we all raced to get deals over the line before the introduction of the 3% stamp duty surcharge.
Is your initial rate period about to finish or are you already paying the BM Solutions' SVR of 4.84%? Are you struggling to remortgage because your rental income no longer meets lenders' stricter stress test calculation?
In the latest of a string of Government crackdowns affecting the buy to let mortgage market, the Prudential Regulation Authority (PRA) published a consultation paper (CP11/16) in March proposing stricter underwriting standards in a bid to prevent the market from overheating.
I am tempted to offer up my buy to let purchase story to the Eastenders script writers. All I am missing for this tale is the Queen Vic and a dog named Wellard. So here is how it went...
The Budget came and went without any additional nasty surprises for residential landlords.
A quick overview of the main changes affecting landlords.
….probably. The purchase of Jeni’s first buy to let hangs in the balance…
Entering the property market? Everyone has to start somewhere, but just how easy is it to get a buy to let mortgage if you are new to the sector? Beckie Pepperrell, consultant mortgage broker explains.
So this endless saga which is my buy to let purchase continues.
Steve Olejnik looks at why an attractively priced 2 year tracker buy to let mortgage is worth considering by those who normally prefer fixed rate products.
Well, what do you know? Patient purchasers finish last and high maintenance divas don’t pay stamp duty surcharges.
Buy to let mortgage broker Nick Helm explains how landlords who own property personally can save money when incorporating.
Find out how you can help ensure that your buy to let application and property purchase completes as quickly as possible, so you avoid the 3% stamp duty surcharge.
And who doesn’t like something for free? I am like a rat up a drainpipe when it comes to saving myself money. Let’s face it, we all work so hard for it, why give it away?
If you’re submitting a buy to let purchase application with a lender today, it’s probably too late to get to get case completed before the 3% stamp duty surcharge on additional residential property purchases is introduced on 1st April 2016.
I am not proud. I have become one of ‘those’ people. The ones who threaten to pull out of a property purchase because things aren’t moving ahead quickly enough.
Paul Keddy, Consultant Mortgage Broker at Mortgages for Business explains how you can purchase a rental property post April 1st, without incurring the 3% stamp duty surcharge.
Gareth Richards, consultant mortgage broker at Mortgages for Business answers some of the most commonly asked questions from brokers about the buy to let mortgage application process for limited companies.
It’s no secret that the number of borrowers using limited companies to make BTL mortgage applications is increasing.
Beckie Pepperrell, Consultant Mortgage Broker's guide on how to obtain a mortgage.
The last few months have seen a fair bit of bad news for landlords, Jeni Browne explains why buy to lets are still a good investment
Well, it’s all gone a bit quiet on the old buy to let purchase.
Many higher tax rate paying individual landlords and property investors believe that the Chancellors’ proposed tax changes will not impact their portfolios. They are wrong. Here’s why.
The Government has published its consultation on the proposed higher rates of Stamp Duty Land Tax (SDLT) for homeowners with more than one property.
I have a bank account. I repeat. I HAVE A BANK ACCOUNT. And. AND…. A. MORTGAGE. OFFER!
As I was eating my 173rd mince pie of the festive season (a very merry Christmas to you all – hope you got something nice……. I got fatter), I realised that I have neglected to mention what I am actually buying (I guess you know it’s a property but what type exactly) and why.
Since July 2015 we have seen a huge rise in the number of enquiries from landlords looking to transfer their property portfolios from their personal names into a Special Purpose Vehicle limited company but can it be done?
It’s been a rollercoaster of a year for landlords, which despite much bad press, hasn’t been all bad. Actual lending figures won’t be published by the Council of Mortgage Lenders until February but I anticipate that gross lending to be in the region of £32 billion, up from £27.4 billion in 2014.
Clearly rested and rejuvenated from my Center Parcs Break (anyone who has done this type of thing with children knows you come back needing a holiday. A real one. With cocktails and sun. And NO kids), today I have been tackling my new venture with aplomb.
I’m guessing you know the answer to that small conundrum.
Chris Longhurst, consultant mortgage broker at Mortgages for Business explains why lenders have started to review their stance on landlords who have an interest in both the leasehold and freehold of a property.
Looking to expand your property portfolio? Take a look at Andy Elley’s quick guide to capital raising.
Game on! My buyer has instructed his solicitor – hoorah.
Jeni Browne, head of residential and buy to let lending at Mortgages for Business answers one of the questions we are asked regularly at the moment – Can I borrow through a newly set up limited company?
Gary McKenna, consultant mortgage broker at Mortgages for Business explains what options are available to you when looking at transferring your buy to let property from personal to Ltd Co ownership.
My mortgage has been agreed in principle!!!!!!
So today, it was bank account day. The last time I opened a bank account was with NatWest.
Paul Martins, consultant mortgage broker at Mortgages for Business answers one of our most frequently asked questions at the moment.
The aim of today was to submit the buy to let mortgage application and sort out the business bank account - this didn’t go to plan.
As a broker, I have been working with landlords for over 15 years and have finally decided (spurred on by the stamp duty bombshell from last week) to acquire my first buy to let.
Simon provides an update on the current Capital Gains Tax situation for landlords and asks whether tax schemes for landlords will actually be acceptable to HMRC and work to reduce the amount of tax due.
Private landlords have been dealt a triple-whammy this year.
What does the 3% stamp duty surcharge mean for landlords looking to finance buy to let property? Steve Olejnik gives his opinion and shines some light on possible routes forward.
Unusually, a buy to let lender has given us notice that a very popular product will be withdrawn on Monday 30th November 2015.
Paul Martins, consultant mortgage broker at Mortgages for Business answers some of the most common questions about the buy to let mortgage application process.
After a successful trial period, Foundation Home Loans has rolled out a range of buy to let mortgages for SPV limited companies
So, with rates already at an all-time low, how can lenders compete for business in this increasingly competitive market without reducing their pricing any further?
Some lenders have found a way to mitigate risk where the leaseholder owns all, or a controlling share, of the freehold.
If you were a buy to let lender, would you lend on a property where the mortgage applicant owned the leasehold and all (or a controlling share of) the freehold?
Despite calls for clarity, the implications of the government’s proposed changes to BTL tax relief seem pretty clear to me: Higher tax-paying individual landlords, and those who will tip over into this bracket, will have to pay more.
As you would expect during the holiday season, our Deal Placement Team is quieter than usual. But that doesn’t mean, we’re not busy.
Prior to now, when asked by clients whether buy to let properties should be bought in their own names or whether they should use a limited company we have always said “it all depends”. Well the Summer Budget 2015 has altered everything and whilst the answer is still “it all depends”, the balance has shifted markedly in favour of limited companies.
Formerly known as Selective Licensing, landlords have expressed concern that lenders might treat them differently when it comes to applying for a buy to let mortgage.
George Osborne’s proposal to restrict tax relief for wealthier landlords will no doubt be fiercely debated by interested parties in the coming months.
The proposed changes to buy to let mortgage interest relief on personal borrowing in George Osborne’s Summer Budget 2015 has sparked a flurry of questions about property investors switching to borrowing in via a corporate vehicle.
Following George Osborne’s bombshell for high rate tax landlords, we have received a number of calls from landlords requesting advice.
What does George Osborne's Summer Budget mean for landlords with buy to let mortgages?
Analysis and examples of how the restriction of relief on buy to let mortgage interest will affect landlords.
Lending figures for Q1 2015 published by the Council of Mortgage Lenders show that buy to let loans accounted for 18% of all mortgages.
In the run-up to the General Election the buy to let mortgage market was quieter than usual.
All of the main political parties recognise that Britain is suffering from a severe shortage of housing and most developers are chomping at the bit to get building but will they be supported by whichever political party/ies wins the forthcoming General Election?
A common thread among all the main political parties is that housing is in short supply and not enough of it is affordable. Like the other parties, UKIP pledges to redress the shortage.
Houses and flats are now sites of speculation rather than simply somewhere to call home. The Green Party wants Britain to return housing to its original purpose: providing everyone with affordable and sustainable shelter. Here’s what its manifesto says with regard to house building.
The Labour Party manifesto says that insufficient houses are being built, young people have been priced out of home ownership and homelessness is rising. Here’s how Labour plans to overcome these issues:
The Liberal Democrats want to speed up house building and stop house prices from slipping further away from the reach of families. Here’s how their manifesto says this will be achieved.
David Whittaker, managing director, Mortgages for Business gives his opinion.
Jeni Browne, Head of Residential and Buy to Let Lending blogs on why Axis Bank have gone from zero to hero in just five working days.
When looking for development finance, how lenders interpret the implementation of Permitted Development Rights has thrown a spanner in the works for property developers. Steve explains and looks at the current borrowing options for developers.
The Landlord Energy Saving Allowance (LESA) permits landlords to deduct up to £1,500 from taxable profit for approved energy saving expenditure on each rental property. But if you are looking to take advantage of this allowance, you'd better hurry up because it ceases to exist in April 2015. Here's how it works.
It’s been a busy quarter for the buy to let space with new lenders being welcomed into the fray.
Simon Whittaker, Finance Director, offers his prediction on the future of interest rates in the UK.
Simon Whittaker, Finance Director, looks at which Stamp Duty calculation should be used when purchasing land for residential development.
Election-wise, it’s going to be an interesting year for the UK.
Fixing your buy to let mortgage for 10 years is a big commitment, so you have to be pretty sure it's the right step for you. Steve Olejnik considers the advantages and disadvantages for landlords.
When the autumn first arrived I thought we might be in for a less than interesting buy to let journey to the end of the year; however, there is excitement to be found if you know where to look.
Over the last few weeks we have seen vanilla buy to let lenders race to the bottom on price and increase proc fees in an attempt to grab market share and hit end of year lending targets.
As a fan of innovation in the buy to let mortgage market, I am pleased to announce that Mortgages for Business is involved in piloting a new 85% buy to let purchase product. Here’s how it works and how you can get access to it.
A few buy to let transactions are already regulated but finding a lender can be difficult. Jeni Browne, head of regulated and buy to let lending, considers whether proposed regulation of accidental landlords will scare lenders away from these types of transactions altogether.
If you read all of the commentary about Mark Carney’s Mansion House speech on Friday 13th June 2014 you will almost certainly be left believing that the Governor said that a rise in Bank Rate is imminent.
Jeni Browne discusses why buy to let lenders impose age restrictions on borrowers. She also looks at which lenders can help older borrowers.
Simon Whittaker, finance director, explains why the extension of the 15pc stamp duty rate on properties costing over £500k purchased by limited companies won’t affect most landlords financially.
Jeni Browne discusses whether it's worth considering a 10 year fixed rate residential mortgage.
Simon Whittaker reviews the Bank of England's latest Inflation Report incorporating its new “forward guidance” on future interest rates. So what do we know now that we didn’t know before? And how does it affect buy to let mortgage rates?
NB: ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Get in contact with us: 0345 345 6788 or ...
