Government forcing landlords to house non-paying tenants for lengthy periods11:18 AM, 15th September 2020
About A week ago 39
One of our excellent Buy to Let portfolio lenders, Fleet mortgages, has announced it is now offering free valuations on properties worth up to £500,000.
On top of this they have reduced the rental stress testing calculations to 125% interest cover at the pay rate allowing customers to borrow extra £20,000 per every £1000 of rent. DSS tenants will also now be considered and the maximum aggregate borrowing for each customer has increased to £4million.
Products are great for capital raising, Gaining bigger loans from smaller rental amounts and are now available to all standard and Ltd company clients with 5 year fixed rate options.
Example: Rent of £1000 per month at 135% at 3.89% can achieve a loan of £228,506
Example: Rent of £1000 per month at 125% at 3.89% can achieve a loan of £246,786
For assistance with this or any other type of property finance please do not hesitate to get in contact with me using the form below.
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