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loanarrangerVerified Poster
Senior Member
Last Activity: 19-05-2019, 19:10 PM
Joined: 14-02-2014
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  • loanarranger
    replied to Will I pay stamp duty?
    There are a minority of lenders who will accept one person being on the Title but with two persons on the mortgage in order support the affordability , otherwise You cannot circumvent the SDLT premium in the second property is in joint names.
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  • loanarranger
    replied to Bank Accounts
    This needs discussing with a qualified accountant, my understanding is that the rental monies emanating from your personal properties have to be declared separately from those held in your business , however you might be able to use such private rental profits as a Directors loan but I am a mere broker...
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  • Bridging Finance is a straight forward funding facility, I haven’t come across a facility other than a Fixed Rate. There are two options available , Monthly Serviced or Interest Rolled up ,Paid in advance from the loan proceeds and if the loan is repaid before the expiry of the facility period, a...
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  • Caveat emptor
    ”Property development firm Ocea has launched a mini-bond that plans to raise £5m from investors, as the watchdog launches probe into these unregulated products.



    The Southampton-based business plans to raise the cash through a five-year individual savings...
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  • loanarranger
    replied to inherited £125k
    PJackson is correct , this hasn't really changed.
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  • With the very inclement weather today I have been able to do research on Rental required for funding a mortgage of £150000, much however depends on whether you are a Standard Tax Payer or Higher Rate Payer , whether you are wanting a 5 year Fixed Rate or a shorter dated facility , there are significant...
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  • It is important to establish if your lender does permit a second charge to be registered, given that they provide Further Advances I fear the answer will be no.
    Have you checked the affordability stress calculation , even though the Paid Rate might be higher than the primary loan the rental stress...
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  • loanarranger
    replied to inherited £125k
    In response to your final question , unless your broker has placed you with a lender who operates Redemption penalties beyond the initial incentive period ( Unlikely) you are perfectly at liberty to switch providers to possibly release any available equity as well as securing a better rate than would...
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  • I could be more precise if you had stated the value and amount of mortgage being sought, however I can advise you on certain lenders offering 80% Remortgage Facilities and using the following rental stress calculations.:-
    Aldermore 125%@5.98
    Kent Reliance 125% @ 4.39% (5 yr Fix)
    Kent...
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  • Hi Propertygoesup
    Much depends on whether your lender actually offers Further Advances , not all do so important to check if you are unsure.

    Assuming they do , the new monies will not necessitate the redemption of the current 5 year Fixed Rate , instead the new Further Advance will...
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  • Lenders are obliged via the agent to indicate that an offer of £x has been received unless a higher offer is made before a certain date.

    I agree with JKO that the date the property came to market and remains unsold for some period of time and offers No Chain is an indicator that this could...
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  • That “solution” was often suggested as a means of circumventing the process, however given the circumstances which existed and the abuses,lenders now operate an audit of recent applications and lo betired any applicant, broker who were found to have made false declarations.
    New forum readers...
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  • You cannot legitimately do this. All lenders and I mean all seek an answer in the application process as to whether the vendor will remain in situ after completion of the sale. Answer No and that is deemed as procuring Finance by misrepresentation.
    Lenders have become aware of this type of transaction...
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  • My sourcing systems show that there are 3 lenders offering Buy to Let Offset Loans , 2 at up to 75% and 1 at 65%.
    Hinckley & Rugby and Clydesdale up to 75% and Family Building Society to 65%, I wasn't aware that Nat West possibly do such funding facilities and certainly they do not appear...
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  • loanarranger
    replied to Mortgage News
    Lenders are adjusting rates in an attempt to stimulate increased volumes

    I have noticed that in the last 7 days a number of main stream lenders announcing cuts to BtL mortgage rates and some instances the amount of fees being levied, this supports my understanding that the volumes of new...
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  • I regret to advise that there are no lenders who have published within their criteria governing such matters and in such instances if flexibility does exist the lender will defer to its appointed valuer fortheir professional opinion in the same way as many lenders have an apparent aversion to ex-Council...
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  • Do all the research possible to minimalist the risk of the latter. BtL is no longer the Get Rich Quick Scheme As so often promulgated by so called property educators. Property is cyclical , tax benefits far less generous and much is going to depend on locality. You might be interested to note that many...
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  • JoshK
    If you are buying a BtL solely in your name my understanding is that you would not incur the Stamp Duty Premium.
    It is important to note that not all lenders will allow the net rental income to be used in the affordability assessment of a main residential property and your Broker should...
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  • loanarranger
    replied to Mortgage News
    An article which has appeared in Mortgage Strategy

    Buy-to-let purchases drop 8% as tax changes bite: UK Finance


    The number of buy-to-let mortgages used for purchasing new properties fell by nearly 8 per cent in February compared to the same month last year, according to the latest...
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  • The article to which buzzard1994 refers is nearly two years old.

    As the article does mention is that the “ Deposit like a New Build Developers incentive is discounted by the valuer in assessing the value of the property and the loan is then based on the lower of the purchase price or...
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