Best Mortgage Brokers

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  • PeterPhili
    started a topic Best Mortgage Brokers

    Best Mortgage Brokers

    1. Who are the best/ most reliable buy to let mortgage brokers in London?
    2. Should i google search 'London Mortgage Broker' and contact the top 3?
    3. Who regulates mortgage brokers?
    4. Is there a reliable website that reviews and ranks them?

    Thank you


  • PeterPhili
    replied
    Yes i'm looking to buy a property
    And to re finance a property also
    Ok let me know LandC
    Any other recommendations by anyone please let me know
    Thank you

    Leave a comment:


  • Gordon999
    replied
    1. Some people think its LandC .but they are paid by the mortgage lender so not looking for the whole of market.

    2. Are you looking for a mortgage ?

    3. FCA

    4. I have not seen it discussed on LZforum.

    Leave a comment:

Latest Activity

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  • Pay off residential with buy to let
    2buytolet
    Hello,

    First poster here looking for advice, this is our situation. We have one buy to let property mortgaged at £40000 and worth around £130000 and our home with a £65000 mortgage worth around £190000. We are looking to move house but keep both properties. Would it be wise to paid...
    15-10-2019, 19:42 PM
  • Reply to Pay off residential with buy to let
    loanarranger
    Hi Boletus, before I responded to your reply I thought I would seek legal opinion since your view on Non Recourse Lending was slightly at variance to my understanding and I am detailing the majority of the response, I would add that he is also a director of a Buy to Let lender.
    Given that the...
    16-10-2019, 21:54 PM
  • Reply to Pay off residential with buy to let
    boletus
    I'm sure loanarranger is well aware but just to point out to others reading, UK BTL mortgages are not non-recourse lending.
    i.e if you default on a BTL loan, it doesn't end with the lender repossessing the BTL property, they can still come after your main residence or other assets.

    ...
    16-10-2019, 13:09 PM
  • Reply to Pay off residential with buy to let
    loanarranger
    Boletus , you make an interesting observation , however I have always taken a “ conservative” approach to such matters believing that having one’s main residence unencumbered is a safety net should financial difficulties ensue and adversely affect the financials of investment properties . Others...
    16-10-2019, 11:52 AM
  • Reply to Pay off residential with buy to let
    boletus
    That is the cleanest solution but not the best financially once the new S24 tax rules are fully implemented.

    There is quite a lot to this but the crux is that residential mortgages are cheaper than BTL.

    e.g
    interest on £100,000 BTL mortgage at 2.5% - 20% tax 'relief'
    ...
    16-10-2019, 10:03 AM
  • Reply to Pay off residential with buy to let
    loanarranger
    If the figures stack up I would always recommend paying off the residential mortgage given that there are no tax benefits to be used against the mortgage interest element of the loan; whereas there still remains a slight advantage in the tax regime for residential property investments.
    Given that...
    15-10-2019, 20:51 PM
  • £25K personal income criteria for re-mortgaging BTL
    hospitality
    Recently read in propertygeek about remortgage: <quote> most mortgage lenders want to see personal income of at least £25,000 that isn't derived from rents. Even if you buy all the properties while you're still working, as soon as you quit that income is gone – so you might struggle when the...
    14-10-2019, 21:51 PM
  • Reply to £25K personal income criteria for re-mortgaging BTL
    loanarranger
    May I add a degree of caution, there are very few underwriters who understand the legitimacy of offsetting carried forward losses incurred in previous years and which allow the profits to be adjusted which in a number of instances will either show a continued loss or a much reduced net profit. In such...
    15-10-2019, 18:45 PM
  • Reply to £25K personal income criteria for re-mortgaging BTL
    topshelf
    Thank you Hospitality, was just about to post the same question tonight, in two month time I can take early retirement, receive a pension of 14k per year (+ lump sum) and a income of 42k gross on my rentals, per year I have 14 months before my next rate change and was starting to get concerned a...
    15-10-2019, 17:41 PM
  • Reply to £25K personal income criteria for re-mortgaging BTL
    loanarranger
    Not all lenders have the requirement of a minimum independent income of £25000 so please don’t lose heart if presently one’s income, excluding rental income, falls below the minimum.
    In the event that one “retires” from main stream employment or self employment and have a property portfolio...
    15-10-2019, 07:48 AM
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