Buy to Let News

Building Societies are winning the mortgage rate war

Building Societies are winning the mortgage rate war

23/01/2017

Building Societies are offering substantially cheaper main residence mortgage rates compared to high street banks. Moneyfacts data analysis shows the average 5 year fixed rate at maximum 75% Loan to Value offered by a Building Society is 0.66% cheaper than the comparable Bank product. The average 5 year 95% LTV Building Society mortgage product is… Read more


PRA rules see falling number of BTL products in January

PRA rules see falling number of BTL products in January

10/01/2017

This month the total number of Buy to Let products available using Moneyfacts data has fallen to 1,408 down from 1,482. This is not statistically a huge percentage, but is a significant change in direction from the previous steady rise post credit crisis. The majority of withdrawn products were in the 75% maximum loan to… Read more


69% of all BTL purchases now in Ltd Co names

69% of all BTL purchases now in Ltd Co names

05/01/2017

Mortgages for Business data shows that for quarter 4 last year 69% of all new Buy to Let purchase applications were made in the name of a limited company. This is an increase of 6% on quarter 3 and a massive increase on the average of 21% in limited company names before Section 24 mortgage… Read more


PRA, DSCR, FCA, HMO, SPV, SIC Code, ATED – What BTL landlords need to know for 2017

PRA, DSCR, FCA, HMO, SPV, SIC Code, ATED – What BTL landlords need to know for 2017

28/12/2016

The numerous interventions from regulators, the EU, the changing lending landscape and even more scrutiny that banks now demand before agreeing terms, has all made for a much more difficult BTL marketplace. You have probably seen this for yourself already. Many mortgage brokers who dabbled in the BTL space have now gone back to their… Read more


BTL – How much can you borrow Pre and Post 1st of Jan (now is the time to act)

BTL – How much can you borrow Pre and Post 1st of Jan (now is the time to act)

15/11/2016

I have had lots of people ask how the calculation works for the amount you can borrow after the new rules come into force next year regarding Buy to Let affordability testing. To make it simple as a follow up to the example in the original article below: The maximum you can borrow: Pre January… Read more


Now is the time to act if you are considering a BTL remortgage or purchase

Now is the time to act if you are considering a BTL remortgage or purchase

10/11/2016

The Prudential Regulation Authority (PRA) Consultation on landlord ‘affordability’ management is being implemented as guidance to lenders from the 1st of January. The PRA are requiring Buy to Let lenders to take into account borrower’s increased tax liabilities due to Section 24 mortgage interest relief reductions and other outgoings when assessing the amount of loan… Read more


No age limit property finance on Keystone Ltd Co and Joint applications

No age limit property finance on Keystone Ltd Co and Joint applications

04/11/2016

“The aim of accepting landlords over the age of 85 years within a joint mortgage application will allow many of our older borrowers to continue to leverage their portfolios”, said David Whittaker CEO of Keystone. Keystone Property Finance has removed the age criteria on its Classic range of mortgage products for joint applicants and for… Read more


Lending Into Retirement – Don’t assume age is a barrier

Lending Into Retirement – Don’t assume age is a barrier

27/10/2016

I think it’s fair to say that the general consensus amongst mortgage professionals is that lenders still aren’t doing enough for older borrowers. At first glance you might look at most lenders looking to lend until age 80 as being quite accommodating, but as we start to work longer, live longer and need to borrow… Read more


PRA confirm new increased BTL stress testing and underwriting standards

PRA confirm new increased BTL stress testing and underwriting standards

30/09/2016

The Prudential Regulation Authority (PRA) have now confirmed to lenders what they expect the minimum standards of Buy to Let underwriting to be. These standards will have to be in place by 1st January 2017 for rental stress testing and by 30th September for other minimum affordability and risk checks. The PRA have confirmed the… Read more


Why consider a second charge loan over a remortgage

Why consider a second charge loan over a remortgage

08/09/2016

Second charge loans can be very real alternative to a remortgage. While every application needs to be considered on its own merits, the second charge industry has recently become more competitive and attractive with lender rates now starting from 4.50%. Reasons for considering second charge loans: 1 – Keeping your existing low rate mortgage You… Read more


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