Covid-19 – Which BTL Lenders Are Playing Ball?

Covid-19 – Which BTL Lenders Are Playing Ball?

15:51 PM, 26th March 2020, About 2 years ago 44

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In my opinion, this short video is the most helpful for landlords so far in the Covid-19 crisis.

Comments from readers, in regards to their personal experiences, are very much necessary.

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Comments

Mark Alexander - Founder of Property118 View Profile

12:26 PM, 27th March 2020, About 2 years ago

Reply to the comment left by David Lawrenson at 27/03/2020 - 12:23
Highly unlikely!

Monty Bodkin

12:30 PM, 27th March 2020, About 2 years ago

https://www.tmwdirect.co.uk/payment-holidays

We also need you to state the following:
I confirm I am in financial difficulty.

Kay Landlord

7:48 AM, 28th March 2020, About 2 years ago

No letters from BM at all and can’t get through but website says rates will be reduced from 1st April
Any news on Topaz ( Siberite) ? Tried to call and gave up after nearly an hour on hold.
Would be amazing to recapitalise a 3 month holiday but I couldn’t jeopardise my credit rating?

David Lawrenson

7:58 AM, 28th March 2020, About 2 years ago

Situation Normal for lenders then in times of panic with at least one suddenly saying "no self -employed".

I wonder how many loans out there like most of mine on old base rate trackers. That must be hurting the lenders quite a lot now. Ouch!

Freda Blogs

8:11 AM, 28th March 2020, About 2 years ago

Reply to the comment left by Monty Bodkin at 27/03/2020 - 12:30
I suspect declaring to the mortgage provider ‘I’m in financial difficulty’ will come back as a bite in the bum later.
Personally, I’d avoid if at all possible.

Monty Bodkin

8:18 AM, 28th March 2020, About 2 years ago

Reply to the comment left by Kay Landlord at 28/03/2020 - 07:48
"Would be amazing to recapitalise a 3 month holiday"

Unless you are a high risk borrower, why weren't you taking out 'holidays' before this virus hit?

What's new pussycat?

Alun Thomas

8:51 AM, 28th March 2020, About 2 years ago

Nothing yet!

Jon Williams

10:10 AM, 28th March 2020, About 2 years ago

I hear that many lenders are excluding 'holidays' (Ha) on B2Lets on HMOs(House in Multiple Occupation). Anyone got any insights?

Freda Blogs

10:18 AM, 28th March 2020, About 2 years ago

Reply to the comment left by Jon Williams at 28/03/2020 - 10:10
Seriously? We are the ones having to pay council tax and all the utilities (which will rise as tenants work from home) and we won’t be able to relet any vacant rooms...

SM

10:36 AM, 28th March 2020, About 2 years ago

Reply to the comment left by Kay Landlord at 28/03/2020 - 07:48
Hi
I've had a letter from Topaz confirming that rates will go down as of 1st April. But like you nothing from BM.

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