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[loanarranger]

It is interesting to read this post this morning given that in the a Trade Publication the following article appeared which might be of interest to Forum Readers.

"HMRC are sending out 14,000 'nudge' letters to people who have sold a residential property during the 2018/19 tax year...

[loanarranger]

You make mention of cramped studio units , are they within the legal sized minimum , if not I can see trouble ahead.

[loanarranger]

The Nationwide have announced this afternoon that for Residential Homeowner applications by applicants who are self employed are being capped at 85% , furthermore several lenders have announced increases in both Residential and Buy to Let mortgages increases in product interest rates.

It...

[loanarranger]

As the artfullodger has given in the links , as plain as a Pikestaff, there doesn’t seem to be any ambiguity of the responsibilities of owning and managing a licensed HMO and the potential ramifications if they are not adhered to.

[loanarranger]

Hi again Susan2242
You make mention of working with a broker for the last two months and todate he seems to have failed to communicate any of the challenges your son is potentially going to face, my advice for what it is worth is to Source a broker who is not only competent in arranging regulated...

[loanarranger]

If this is to be an HMO , your son wouldn’t be able to reside in the property , secondly lenders expect the applicant to have a minimum of one property owned and let ( not what is proposed as lodgers) with evidence of the declaration of income from Land & Property viathe Self Assessment, Tax Overview...

[loanarranger]

The final paragraph of Gordons999 post hits the nail on the head, as I am actively involved in getting a portfolio transferred into my late clients wife’s name , I am faced with the need to submit new applications on her behalf and accept the new market rates on offer, and that will be the situation...

[loanarranger]

You describe the three additional occupants as lodgers therefore one assumes that you haven’t created Assured Shorthold Tenancy Agreements simply allowing them instead to occupy the property on on an agreed rental and flexibility of tenure; therefore if I am correct you cannot describe yourself as...

[loanarranger]

Following on from Gordons great info on the pros & cons for Personal or Corporate borrowings , I would add that there are presently 18 lenders who consider Buy to Let applications for Limited Company borrowings.

[loanarranger]

Spoken like a gentleman, no offence intended in my comments.
If as you say everything is in order you should have no difficulties in procuring the necessary finance.

[loanarranger]

New Buy to Let lender to enter the sector in early 2021

Whilst it might seem premature but the following announcement demonstrates lender confidence in the Professional Buy to Let sector.

”New digital property lender, Monument Bank, has received an ‘authorisation with restriction’...

[loanarranger]

The Obligatory requirements of all lenders include as previously stated the last 2/3 years Self Assessments , Copy of the respective Tax Overview and Tax Calculations , coupled with the production of the necessary last three months bank accounts both personal and if separate bank accounts are held...

[loanarranger]

Given that this fee can be claimed as an expense in the same way as valuation fees, solicitors costs I fear with respect that you are very short sighted.
As someone whose father came from Yorkshire and I spent 25 years with a top five building society as a General Manager in Leeds I do not subscribe...

[loanarranger]

Given all of the negative news of late in the mortgage market , there is a whisper that Paragon Bank may be returning at some point in the near future to accepting applications for HMO & properties being occupied by Students, this feature of their criteria was removed in recent months because of...

[loanarranger]

Ouch , that's tough talking but perhaps necessary in the circumstances.

As a broker I don't think prospective clients perhaps realise the length of time it genuinely takes to research the market and given the new rules from the FCA of providing either the cheapest initial facility or genuine...

[loanarranger]

Your opening indicates that you are a Portfolio Landlord, if my assumption is correct then irrespective of whether there is a lender in the sector who entertains mortgage applications direct from the applicant rather than through a qualified mortgage broker, their underwriting requirements remain the...

[loanarranger]

This a straight forward remortgage based on capital raising to repay your brothers share and additional monies to improve the property. The normal minimum loan is £25000 and as you state the current value is circa £80000 with the potential of an increase with the proposed works.
Might I suggest...

[loanarranger]

Last year I was involved in arranging such a situation involving my client and a third party and the outcome proved very expensive for both parties.
They had both thought that all they needed to do was to agree to ask for one party to be removed and allow the other to continue to enjoy the current...

[loanarranger]

It is all well and good making such borrowings easier to get but the overriding issues affecting many First Time Buyers is their credit profiles ,taking a sample of 1st time buyer clients over the last 12 months ,there have been serious issues over misuse of credit cards, student loans where the individuals...

[loanarranger]

Boris Johnson has plans to help First Time Buyers who have minimum deposits

First-time buyers have been finding it particularly hard to buy a property since the pandemic began as lenders have cut maximum loan to values (LTVs).

The stamp duty holiday in England and Northern...