Flexible Ltd Co BTL criteria, Undervalue Transactions and more!
Author: John Constant
7th November 2018, 7 years ago | 0
John Constant
John Constant
Registered with Property118.com
1st September 2013
Total Posts
3
Total Comments
104
Bio
Mortgage and Protection specialist with 20+ years experience.
2nd February 2021, 5 years ago
Richard, not all lenders have this policy where they don't accept income from a BTL portfolio towards a residential remortgage. Some are more enlightened than others. Of course, this is all subject to other personal factors too. A good specialist...
Read More →Reply to comment left by Neil Patterson at 23/09/2019 - 09:19
Reply to the comment left by Neil Patterson at 23/09/2019 - 09:19Prath, you should understand also that it is not so straight-forward for a First Time landlord to obtain a HMO mortgage - many lenders require you to have some...
Read More →10th December 2018, 7 years ago
In my client's situation, it would've raised a whole load of other problems regarding taxation costs etc. It would have been throwing the baby out with the bath water. As I said in my original post, I found a lender...
Read More →Reply to comment left by Mark Alexander at 10/12/2018 - 12:11
Reply to the comment left by Mark Alexander at 10/12/2018 - 12:11You are quite right for this particular case Mark, but I wanted to draw your readers attention to the situation where a sole owner passed beneficial rental income to...
Read More →10th December 2018, 7 years ago
Just a quick note regarding mortgages in this situation. It will not apply to you as such, but similar situations where there are more than 3 properties in the portfolio could leave yourself open to falling foul of the new...
Read More →20th March 2018, 8 years ago
Peter, I suspect that the rules changing that you refer to are the PRA Portfolio rules. These are already in place and you will be pleased to know that you would not be classed as a Portfolio landlord, and therefore,...
Read More →20th March 2018, 8 years ago
Hi Ian, you mention in your text "over a period of time", so I assume that it has indeed been quite a while. If this is the case, is there a rock solid reason why you still have it on...
Read More →2nd January 2018, 8 years ago
Hi Julia, Neil has pre-empted my comments here about problems with your lender, if you have one. Potentially, you could be breaking the T&C's of your current lender if you let like this. The lender entered into a contract with...
Read More →29th December 2017, 8 years ago
Hello Cheryl, as advisers with a long-standing relationship with Property118.com, we would be happy to have an informal chat with you. You have identified that there maybe taxation issues and you were unsure if you needed an Accountant; we cannot...
Read More →23rd June 2017, 9 years ago
Yes, lenders would consider this in the same class as a new build. Occasionally, some valuers (at the request of the lender) do "Desktop" valuations if there is a significant deposit. Valuers do not always visit the site.
Read More →Reply to comment left by Dylan Morris at 23/06/2017 - 11:33
Reply to the comment left by "Dylan Morris" at "23/06/2017 - 11:33": Clearly states in the original post that it is an Exchange Deposit.
Read More →Reply to comment left by christian kemp at 23/06/2017 - 11:35
Reply to the comment left by "christian kemp" at "23/06/2017 - 11:35": I appreciate that Christian, but from the statement issued by the Sourcing company, it looks as if they are clumsily trying to conceal the fact that it is...
Read More →Reply to comment left by christian kemp at 23/06/2017 - 11:22
Reply to the comment left by "christian kemp" at "23/06/2017 - 11:22": Don't know why a broker would want to conceal the fact that it is a new build other than a pointless attempt to hoodwink the lender into thinking...
Read More →Reply to comment left by christian kemp at 23/06/2017 - 11:22
Reply to the comment left by "christian kemp" at "23/06/2017 - 11:22": Hi Christian, please contact me through my profile
Read More →23rd June 2017, 9 years ago
Would you be willing to give the address of the property? I would like to take a look at the area/building.
Read More →23rd June 2017, 9 years ago
Christian, I would be very interested to hear why your lender(s) have refused to lend. Have you spoken to any other reputable brokers who might be able to assist? We have worked closely with Property118 over the years on cases...
Read More →19th April 2017, 9 years ago
In addition to that mentioned above by Neil, a majority of lenders will also require a floating charge over the assets of your Ltd Co too. There are one or two lenders who do not have this requirement though.
Read More →18th April 2017, 9 years ago
To all those considering UKIP, speaking as a constituent of UKIP's only MP (or as was!) be careful what you wish for. Many people in Clacton voted Conservative (Carswell) and got UKIP Carswell. Many people later voted UKIP (Carswell) and...
Read More →30th March 2017, 9 years ago
From a mortgage point of view, it would be much more attractive as a 1 bed flat, rather than a Studio. Studio's are not liked by many lenders, who view them as appealing to a limited number of potential purchasers....
Read More →16th March 2017, 9 years ago
Ava, this is a question that has raised it's ugly head with us before. I (as a broker) have raised this with Paragon, and they seemed quite resigned to the fact that another company may have a floating charge over...
Read More →Showing 20 of 104 comments