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loanarrangerVerified Poster
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Last Activity: 25-01-2021, 22:38 PM
Joined: 14-02-2014
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  • MUFB is on par with HMO’s , not every lender in the BtL sector accommodates such applications-so the rate as quoted is reasonably competitive. Suggest you ask your broker to provide a spreadsheet of his research thereby justifying this particular loan. If your borrowing is below 75% lower rates might...
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  • Alice123 is spot on , if the case is plausible then I have yet to have a lender decline a Consent to Let request , unfortunately for some The plausibility and credibility doesn’t hold water and are surprised to be rejected but these are in the minority fortunately.
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  • Unfortunately the horse comes before the cart, You cannot jump the gun by letting in advance of the Consent being granted, furthermore if you are letting via a Letting Agent , they have a legal obligation to obtain either the formal consent to Let approval from the clients lender or proof that the current...
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  • If yourproperty is in Mortgage and you genuinely need to move away from yourpresent base , firstly contact your lender and seek a Consent to Let, this if granted can be allowed for 12 months or indeed open ended, but if granted you will need an AST and for your Insurers to be notified of the situation....
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  • loanarranger
    replied to Mortgage News
    You may indeed be correct , but it is evident that arrears are impacted by a failure to deal with individual unsecured debts which have proliferated due to a “ low interest rate “ environment, these are additionally compounded by PCP contracts on vehicles which in the main are standing idle because...
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  • loanarranger
    replied to Mortgage News
    Lenders are expecting an increase in mortgage payment defaults during 2021

    High street banks are expecting more mortgage payment defaults at the start of this year, as demand is set to fall for home purchase lending.

    The end of mortgage payment holidays, as the economic impact...
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  • loanarranger
    replied to Mortgage News
    Nationwide are due to increase the maximum mortgage term to 40 years for lending at 90% LtV.
    With affordability under pressure for 1st time buyers the extension to 40 years will give positive assistance.
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  • Evidence of personal savings is not an integral part of the loan assessment process but as you correctly assumed it does indicate that the borrower does indeed have a safety buffer should the portfolio experience extended voids. A number of lenders experienced in portfolio lending do ask in the business...
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  • As a Portfolio Investor there are only two main criteria on which a lender will base a loan assessment:-
    1) Minimum Earned Primary Income , each lender has a minimum base salary requirement.
    2) Is the rental adequate to meet the loan requirement based on the stress rate , which can vary...
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  • loanarranger
    replied to Mortgage News
    Is this the first of many lenders being honest so far as Stamp Duty 31st March is concerned.

    Hampshire Trust Bank is no longer accepting applications for mortgages required to complete before the end of the stamp duty holiday deadline on 31 March.
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  • Based on a 50% Loan to Value and acceptance on income etc the following are the lowest for 2 or 5 year Fixed Rates , Tracker /Discounted rates are available;-
    ...
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  • loanarranger
    replied to Mortgage News
    I have researched maximum percentage loan availability in the residential home mortgage market, my findings indicate that there are presently 25 lenders now prepared to consider such applications up to 90% subject to current income criteria assessment.
    It is important to note that where applicants...
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  • loanarranger
    replied to Mortgage News
    Saffron Building Society have today made the following announcement relating to ExPats

    Our Expat BTL is no longer available to applicants living in an EEA country.”

    I believe that this might be the tip of the iceberg so far as eligibility is concerned for ExPats living in...
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  • I have tried to be constructive in my comments so I can only restate my advice, speak with a good solicitor and he will advise you accordingly.
    No further response will be made.
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  • I believe that this can be done but I would strongly advise that you consult a solicitor as clearly for some there is a mistaken belief that ownership of a UK property might after a period of time enable the owner to apply for UK citizenship, I think if there was such a loophole it has been closed....
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  • loanarranger
    replied to Mortgage News
    Changes following Brexit

    Two lenders who are part of One Savings Bank have made an announcement concerning EU Nationals choosing to stay and work in the UK, It is reasonable to assume that all other lenders will have the same requirements in place even though they haven't broadcast such
    ...
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  • loanarranger
    replied to Mortgage News
    Santander make a significant change to its criteria sofar as Self Employed applicants are concerned for residential mortgage applications, see below

    "Santander is limiting all new residential mortgage applications where any applicant is self-employed to 60% LTV to help manage its current...
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  • loanarranger
    replied to Mortgage News
    A few lenders have reduced their rates on both Buy to Let as well as for residential , lenders like Paragon are waiting to see what their kety competitors are going to do before making any changes but from comments made by Sales Managers for several lenders , the volume of applications has slowed down...
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  • I listened to the lady who started the petition this morning on the radio and it certainly is a bonus for new transactions , whilst it is noted that currently it is not retrospective one can only hope that the pressures will ensure that this part of the issue is quickly addressed,]
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  • loanarranger
    replied to Mortgage News
    Is this going to become a general practice of all lenders

    An announcement from Halifax to all Mortgage Intermediaries today.


    Halifax has tightened its affordability criteria for borrowers with any self-employed income or those earning less than £30,000 a year.

    ...
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