Landlords Trapped in £7000 EPC Funding Gap

[loanarranger]

Lenders who provide Further Advances like Paragon include TMW, BM Solutions however for many centralised lenders their Funding facilities from Institutional providers do not allow for such borrowings, the lenders themselves accept that this is a weakness in their overall lending proposition to clients...

[loanarranger]

Gordon999 I can indeed confirm that Paragon do indeed offer Further Advances at rates which are fair and run parallel with the primary loan , the loan period ( not the product incentive period) will be set for a term which will coincide with the outstanding term of the mortgage....

[loanarranger]

Unfortunately the number of lenders who have a 6th Month validity are nominal therefore it it is prudent to look at 3/5 on your views depending on views of rate changes. Get your broker to provide a schedule of lenders for each category and make a decision. As a broker I do not think rates will decrease...

[loanarranger]

I am detailing an interesting article relating to the challenges facing Landlords regarding the EPC Upgrade

Landlords trapped in £7,000 EPC funding gap: Paragon

By Roger Baird 21^st July 2022 11:31 am
Over three-quarters of landlords are willing to spend up to £3,000 to upgrade each...

[loanarranger]

The straight answer is no simply because the majority of lenders have a minimum value ,furthermore such low value which is properties often reflect areas of social deprivation and where occupants are invariable on Universal Benefits and a perceived view of above levels of rental arrears.
When...

[loanarranger]

Lenders do NOT take account of your perceived equity within an existing property which I am assuming is Mortgage Free. If you are interested in acquiring a second property without the involvement of your “partner” then the lender will require formal evidence that you have sufficient cash available...

[loanarranger]

Property investment has always been regarded as long term , the get rich quick mantra was too often promulgated by so called Property Educators, in the early days when BtL became a recognised investment the ability to buy and remortgage frequently was indeed possible and for many proved the basis of...

[loanarranger]

The following emanates from HMRC, makes interesting reading and given the real prospect of even higher mortgage rates I suspect the immediate future could become problematic for both buyers and distressed sellers.

”HMRC’s seasonally adjusted estimate of UK non-residential transactions...

[loanarranger]

Sometimes even a blind man needs a guide dog to help him find a way forward.no more to be said to Blinko

[loanarranger]

JPKeates is indeed correct, there has to be a genuine reason for requesting a Consent to Let, if we are talking months since completion I cannot envisage consent to be granted; if your employer is relocating you to an area which is beyond a normal commute then this is a plausible reason. Itis important...

[loanarranger]

Probably the reason is to avoid paying for independent Mortgage Advice which otherwise if done correctly can enable one to access the best rates available in the market and make savings which far out way the cost of professional advice.
As classic case do you know the valuation assessment difference...