How do you source your BTL mortgage?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    How do you source your BTL mortgage?

    Hi there

    A few years ago, there was only a handful of BTL mortgages on the market. It got me wondering, is it more important to use a broker now that there is a variety of BTL products out there, or was it more important then, when they were more obscure and hard to find?

    What do you guys think, do you always go direct or source a mortgage yourselves? What about other services a broker might offer, like investment advice or conveyancing?

    Cheers

    #2
    I always use these guys and have found there comparisson site very good. http://www.arlamortgages.co.uk/

    Comment


      #3
      A much higher proportion of BTL mortgages (as opposed to residential mortgages) are offered on an intermediaries-only basis (two of the biggest BTL lenders – The Mortgage Works and Birmingham Midshires – lend exclusively via intermediaries), so for this reason alone it’s pretty much essential to use a broker. Also the different lending criteria can be rather arcane, but a decent mortgage broker should be able to take the stress of worrying about that completely off your hands.

      Regarding receiving other advice, in general I would rather use a mortgage broker for my mortgage, a decent conveyancing solicitors’ firm for my conveyancing, etc. etc. as opposed to a jack of all trades. If estate agents, mortgage brokers etc. say that they have their own conveyancers or financial advisers, all it usually means is that they will benefit from a kickback for having referred you, and you may well end up with an overpriced substandard service.

      Comment


        #4
        Originally posted by QuestForFreedom View Post
        I always use these guys and have found there comparisson site very good. http://www.arlamortgages.co.uk/
        Seems like a referrers site - if you read the small print - with everyone paying the other one a fee

        Comment


          #5
          Most importantly I didn't have to pay a fee and they have a very good selection of products. Staff on the phones also knowledgeable.

          Comment

          Latest Activity

          Collapse

          • Mortgage News
            by loanarranger
            The following article has appeared in one of the Mortgage Trade journals reporting on views expressed by the Association of Mortgage Intermediaries an influential trade body within the mortgage industry.

            "Mortgage rates are likely to rise in the first quarter of 2016 as lenders look...
            23-12-2015, 19:43 PM
          • Reply to Mortgage News
            by loanarranger
            The FCA has confirmed that the current ban on lender repossessions of homes will be continued to 31st of October 2020.

            The regulator says this will "ensure people are able to comply with the government’s policy to self-isolate if they need to".

            The FCA...
            02-06-2020, 21:02 PM
          • Reply to The beginning
            by jpkeates
            Some people are always forced to sell (the three D's, death, debt and divorce are traditional estate agent's friends).
            But I think most people simply won't do anything - buy or sell
            There's been a plague, people are worried about a recession (and the future of their jobs) and we hard Brexit...
            02-06-2020, 16:32 PM
          • The beginning
            by JoshyT
            How will landlords on here react to houseprice declines and renters with lower disposable incomes?

            What strategies do you have in place?

            Are there any landlords to be waiting to pick up some bargains in the short to medium term?

            https://www.thisismoney.co.uk/m...
            01-06-2020, 12:12 PM
          • Reply to The beginning
            by Kape65
            Unfortunately for the housing market it often talks itself into a slide. Buyers who may be already wary are going to consider delaying their purchase now in case of a drop, hoping to bag a bargain. Anybody that HAS to sell may well be forced into accepting lower prices which then re-sets ceiling prices....
            02-06-2020, 15:41 PM
          • Reply to The beginning
            by hech123
            Wow I am amazed people are forecasting massive falls in house prices. I actually had to read the article to believe it. It just goes to show how thick most of these so called experts are. I mean you have to be some kind of thick to believe that there is going to be some kind of huge sell off when...
            02-06-2020, 14:18 PM
          • Reply to The beginning
            by doobrey
            https://www.bbc.co.uk/news/uk-england-52847319...
            02-06-2020, 07:59 AM
          • Reply to Buying a refurb project as a BTL
            by leasee123
            Thanks a lot for the useful comments and sorry it took a bit of time to get back to you on this. I did view the house and indeed it required a full refurb. All the carpets were removed, kitchen gutted out except for the sink and some dated units and bathroom that had the sink, toilet and bath but...
            01-06-2020, 14:54 PM
          • Buying a refurb project as a BTL
            by leasee123
            Quick question - is it possible to buy a house that needs a complete refurb (but nothing structural or anything major) on a buy to let mortgage? Looking at a house that requires a full refurb to let out. Plan is to refurb straight away after completion and then let out. I know you can do this via...
            24-05-2020, 20:36 PM
          • Reply to The beginning
            by jpkeates
            Houseprices only matter when someone is buying, selling or borrowing money on a property.

            I don't expect people to have lower disposable incomes.
            In a recession people tend to either have the same income or have a huge change in living standards.
            I'd expect the demand for rental...
            01-06-2020, 13:11 PM
          Working...
          X