Covid-19 – Which BTL Lenders Are Playing Ball?
3:51 PM, 26th March 2020, 6 years ago
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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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Adding another tenant onto contract
Member Since January 2011 - Comments: 12212 - Articles: 1408
12:26 PM, 27th March 2020, About 6 years ago
Reply to the comment left by David Lawrenson at 27/03/2020 – 12:23
Highly unlikely!
Member Since June 2014 - Comments: 1564
12:30 PM, 27th March 2020, About 6 years ago
https://www.tmwdirect.co.uk/payment-holidays
We also need you to state the following:
I confirm I am in financial difficulty.
Member Since April 2016 - Comments: 25
7:48 AM, 28th March 2020, About 6 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?
Member Since July 2013 - Comments: 467 - Articles: 1
7:58 AM, 28th March 2020, About 6 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!
Member Since July 2013 - Comments: 754
8:11 AM, 28th March 2020, About 6 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.
Member Since June 2014 - Comments: 1564
8:18 AM, 28th March 2020, About 6 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?
Member Since April 2014 - Comments: 8
8:51 AM, 28th March 2020, About 6 years ago
Nothing yet!
Member Since March 2020 - Comments: 9
10:10 AM, 28th March 2020, About 6 years ago
I hear that many lenders are excluding ‘holidays’ (Ha) on B2Lets on HMOs(House in Multiple Occupation). Anyone got any insights?
Member Since July 2013 - Comments: 754
10:18 AM, 28th March 2020, About 6 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…
Member Since October 2017 - Comments: 41
10:36 AM, 28th March 2020, About 6 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.