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[loanarranger]

No problems Boletus , thanks for the supportive information to the poster.

[loanarranger]

Section20z , Age is no longer an obstacle in securing long term mortgages , whilst certain lenders require the mortgage to be repaid by age 70/75 there are indeed lenders who will provide mortgages up to 85/90 with an applicant being 70 years of age on application.

Clearly using surplus...

[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...

[loanarranger]

“I have no opinions on sole or Ltd and it’s something I need to look into before future purchases but I will probably stick with sole just because it’s simpler. I doubt you will be able to buy properties into the same company that you intend to run your day to day income from self employment ...

[loanarranger]

Had you bought last year the chances are that the capital value had dropped or if not has the serious potential so whilst hindsight is a wonderful commodity the same can be said with foresight.

I really do understand your expressed frustrations over the attitude being adopted by lenders...

[loanarranger]

BTL Investor, you are indeed correct , the government sponsored scheme is designed to boost the savings to fund the deposit on any property in the U.K. with a concession on the price of properties located in London,You can use a Help to Buy ISA with any mortgage; you’re not restricted to a Help to...

[loanarranger]

The following article explains the potential ramifications of future lending by specific types of lenders because of Mortgage Payment Holidays.


The extension of mortgage payment holidays will exacerbate funding issues and operational difficulties for non-bank and specialist lenders,...

[loanarranger]

Help to Buy Mortgages are only available if you are buying a newly built property or acquiring a shared ownership in conjunction with a Housing Society. It does NOT accommodate buying a second hand property for either personal occupation or renting.
Given that you have cash available you are indeed...

[loanarranger]

After Dominic Cummins and Specsave I could laugh if I didn't need a few pennies on my meagre savings

[loanarranger]

Remember that so far as banks and especially Building Societies are concerned , they have a reliance upon savers for the ability to lend to homebuyers and in many instances BtL borrowers and therefore a fair rate of interest must be paid over and above the operational costs therefore from a lending...

[loanarranger]

Any property that is without the basic amenities,I.e a fully functioning bathroom or kitchen is regarded by long term lenders as unmortgageable in its present condition. For such property one can obtain short term bridging finance, the downside is cost and the loan is based on the 180 day ( forced sale)...

[loanarranger]

There are two types of refurb , light and heavy , the former to perhaps include a redecorates of the property, replacement kitchen & Bathroom but nothing of a structural nature or requiring planning consent.
Depending on whatisinvolved lenders would ask for a valuation based on the current...

[loanarranger]

As the saying goes “ Don’t panic Mr Mainwaring”

[loanarranger]

Welcome to the Forum
You are right to always recall what interest rates used to be and indeed interest rates did rise to the levels you have mentioned, however at that time lending was primarily the preserve of Building Societies with only a moderate amount being advanced by the Clearing Banks....

[loanarranger]

Lenders generally base the rental stress calculations against the validated gross rental achievable ( Not the rent as shown on the AST(s), where the rent being received is higher then whilst it won’t make a difference to the size of the loan it simply makes so far as the Investor is concerned a more...

[loanarranger]

Nationwide gives assurances of no Repossessions for Residential Homeowners for 12 months

Nationwide Building Society has pledged none of its customers who fall into arrears due to the coronavirus will lose their home until the end of May 2021.

The only caveat is that borrowers...

[loanarranger]

Thanks for qualifying that you are not a novice landlord therefore I can assure you that there are only a minority of lenders who will accept HMO’s of this size. Whilst an application can be submitted to a lender whose criteria accommodates such property , no monies will be released until the HMO...

[loanarranger]

First have you applied for an HMO? Once an app is made the Council will automatically notify your lender and they in turn will start asking questions because what was originally applied for turns out to be something entirely different: given the short period of time of ownership expect a frosty attitude....

[loanarranger]

If we were to go into negative interest rates then using any monies into the linked savings account might ( I stress might) proved the right strategy.
Bestof luck moving forward but don’t hold your breath over the MPH being extended even further as this could seriously impact of the number of...

[loanarranger]

If you still feel aggrieved then write to

• Simon Dodd
• Senior Marketing Manager>Coventry Building Society responsible for communicating to members and mortgage intermediaries