Finance & Investment Questions

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Sticky: Mortgage News by loanarranger Started by loanarranger, 23-12-2015, 19:43 PM	457 responses 27,684 views 0 likes	Last Post by loanarranger 17-02-2021, 22:18 PM
Repayment of BTL mortgage by sherdog Started by sherdog, 22-02-2021, 21:34 PM	3 responses 80 views 0 likes	Last Post by loanarranger 25-02-2021, 11:32 AM
BTL mortgage issue - less than 50% in block private let by Flat234 Started by Flat234, 24-02-2021, 12:06 PM	6 responses 91 views 0 likes	Last Post by loanarranger 25-02-2021, 11:29 AM
Applying to the council to buy a council property by feebs77 Started by feebs77, 19-02-2021, 14:03 PM	3 responses 88 views 0 likes	Last Post by Gordon999 21-02-2021, 21:24 PM
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The Demise of a once Super Hyped Property Educator by loanarranger Started by loanarranger, 15-02-2021, 12:40 PM	7 responses 154 views 0 likes	Last Post by loanarranger 17-02-2021, 10:47 AM
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Repayment of BTL mortgage

by sherdog

I have a BTL mortgage with TMW. The mortgage was organised by my broker.

I want to make a one off payment for the whole balance. Do I have to go through my mortgage broker? Or can I go directly through TMW.

Quite specific but thanks in advance.
- Channel: Finance & Investment Questions
22-02-2021, 21:34 PM
Reply to Repayment of BTL mortgage

by loanarranger

If the loan is outside of its original incentive period then the answer is a categoric yes Unless and doubtful in current product schemes there is an extended Early Redemption Penalty. It will all be mentioned in the Mortgage Offer and the Illustration which was provided at the outset.
- Channel: Finance & Investment Questions
25-02-2021, 11:32 AM
BTL mortgage issue - less than 50% in block private let

by Flat234

Hi, I had decided to sell a BTL flat and we were due to exchange imminently, however today the buyer has pulled out. It was being bought by another BTL investor. The reason given is that the BTL mortgage company they were using has said (after the survey) that they are not prepared to lend on the property...
- Channel: Finance & Investment Questions
24-02-2021, 12:06 PM
Reply to BTL mortgage issue - less than 50% in block private let

by loanarranger

I can now advise that Zephyr Home Loans will entertain such situations where a minimum of 50% are in Private Ownership , hope this helps.
- Channel: Finance & Investment Questions
25-02-2021, 11:29 AM
Reply to BTL mortgage issue - less than 50% in block private let

by loanarranger

I have just done a quick check on a specific mortgage search tool and my previous post is confirmed however where the criteria doesn’t mention a percentage there is complete reliance on the valuers comments, suggest you try Foundation Home Loans or the Chorley Bldg Society, they seem to have a fair...
- Channel: Finance & Investment Questions
24-02-2021, 23:35 PM
Reply to BTL mortgage issue - less than 50% in block private let

by loanarranger

I regret to advise that lenders irrespective of whether the property is a flat or house and ex local authority / housing association will not lend unless the majority of units are in private ownership and require a greater percentage of such property than the percentage quoted.
sadly the reason...
- Channel: Finance & Investment Questions
24-02-2021, 23:21 PM
Reply to BTL mortgage issue - less than 50% in block private let

by DPT57

Many people who bought ex-local authority properties, especially flats in blocks, are finding all kinds of problems with a wide range of issues. Sorry you're in this position.
- Channel: Finance & Investment Questions
24-02-2021, 13:00 PM
Reply to BTL mortgage issue - less than 50% in block private let

by ash72

Mortgage Companies work on the basis of risk, they may change their criteria accordingly to reduce their exposure. There's usually a premium on properties when sold to BTL investors as apposed to owner occupiers, as they see the yield with the owner see's it as their home.

If the property...
- Channel: Finance & Investment Questions
24-02-2021, 12:21 PM
Reply to BTL mortgage issue - less than 50% in block private let

by theartfullodger

Talk to a couple of specialist (BTL) mortgage brokers and see what the suggest.
- Channel: Finance & Investment Questions
24-02-2021, 12:20 PM
Reply to Repayment of BTL mortgage

by Gordon999

If OP is already charged interest at "standard variable rate", does this mean the outstanding mortgage loan can be repaid without penalty ?
- Channel: Finance & Investment Questions
24-02-2021, 10:57 AM

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