User Profile

[loanarranger]

I think that your issue is experienced by many novice investors and naturally the whipping boy has together lender so may I take this opportunity of clarifying certain aspects of product pricing and by association funding.
If you take out BM Midshires , The Mortgage Works who are funded by Lloyd’s...

[loanarranger]

I agree it allows the borrower a greater degree of control over the legal processes.

[loanarranger]

If the lender accommodates lending onHMO’s there is a very good chance that you will not be disadvantaged by having to take a new mortgage; as AndrewDodd so correctly states inform the lender before the Council notifies them explaining the situation and you may get a positive response.

[loanarranger]

You are indeed correct that Fixed Rate Mortgages do have products which have an ERC on a reducing scale, a feature which is fully detailed in the Key Facts Illustration, unfortunately as in your case the ERC is set at a Fixed percentage throughout the initial incentive period, this in itself might have...

[loanarranger]

I regret to advise you that your entire interpretation of the law and rules pertaining to mortgage contract.
You entered into a contract to borrow a sum of money secured against a residential property which you declared was for investment Not owner occupation by yourself, The funding as is generally...

[loanarranger]

A wise decision.i should have added that several lenders decided to offer a cash back rather than continuing to offer Free Legals ,...

[loanarranger]

Much depends on the firm being used by the lender. By and large these firms are “ Conveyancing Factories” and you would be a case number with no guarantee of always speaking with the same case administrator. Much depends on how urgent you are seeking the Remortgage , I would suggest you get a quote...

[loanarranger]

I hope indeed that your wishes are granted, unfortunately Barclays have not been consistent in their underwriting assessments resulting in much wailing and gnashing of teeth , and that is me a broker.

[loanarranger]

There are a very small number of lenders who will lend up to 85% BtL mortgages , rates are slightly higher than the norm but beggars can’t be choosers.
You do however have a potential issue regarding eligibility in so far as you are moving to another country and might be considered to be an...

[loanarranger]

Bridging is indeed expensive but in certain circumstances it might be the only option.
If the property being offered as security is the primary residence of the applicant then that removes a number of lenders since this type comes under the Regulated Loan basis and some are not authorised to undertake...

[loanarranger]

A very shrewd move JP. Strike whilst the iron is hot.

[loanarranger]

Buy-to-let mortgage rates have fallen as the choice of products has grown, research claims.

Analysis of the deals on offer from lenders including Barclays, BM Solutions, RBS, The Mortgage Works, Godiva and Precise found the average rate on a £150,000 buy-to-let mortgage has dropped across...

[loanarranger]

Before any Remortgage of the present property takes place, the parcel of land on which you intend to build on must be separated from the Freehold title thereby allowing the remaining Freehold and building to be valued accordingly. This would involve arranging a Bridging Facility to cover the cost of...

[loanarranger]

A lender needs to obtain and be satisfied that the applicant has the ability to meet the payments herself without recourse to third party voluntary contributions.

[loanarranger]

A Family Buy to Let is considered asa Regulated Mortgage , to this end the affordability is based entirely upon the incomes of yourself and sister and ignores what the market rent would be , as an aside and as an underwriting requirement the market rent would have to meet that lenders normal rental...

[loanarranger]

As a broker I haven’t come across such decisions but having reread the document issued by the government I can understand if a valuer has advised against the Suitability of a property within a designated area of a local authority. An extract of the pertinent reasons are detailed but without knowing...

[loanarranger]

What goes up Can come down

An interesting article has appeared today in a Finance Trade publication which may be of interest.

Prices almost flat in June: Nationwide

Average house prices across the UK were almost flat in June with an increase of just 0.5 per cent...

[loanarranger]

Thanks JP.

[loanarranger]

I agree that if the rate is fair for you and the reversionary rate etc are good then certainly that should be what is needed to go ahead.

Thanks for the responses which seem to be well read but seldom commented on....

[loanarranger]

Such questions are indeed asked when meeting the Regional Managers but one seldom gets the truth.
Having been a lender for over 50 years one is always conscious of having to give the impression that business is indeed good and not to communicate any negatives, that is particularly pertinent to...