How many buy to lets can I buy?

How many buy to lets can I buy?

9:11 AM, 3rd February 2014, About 8 years ago 25

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Does any one know the current limits on how many buy to lets/how much one can spend, before the big lenders pull the plug?

I know some say you can have ‘3 buy to lets’ or ‘9 buy to lets’ or whatever, others say you can borrow an amount of money.

I know there are limits across the Lloyds group but I’m having trouble finding the actual figures.

Can any one help?

I’d like to make an up to date list. How many buy to lets can I buy?

Peter



Comments

by

18:49 PM, 4th February 2014, About 8 years ago

Mark,

The original poster asked for a list.

I directed him to one.

I also advised seeking specialist financial advice.

I don't appreciate your attempts to discredit my input when I was only offering what the OP requested.

My experience tells me that people (although NOT the Donald Trumps of this world) often come to forums just asking for some very specific input, not to be given "advice" that they never requested.

I respect that, even if you don't!

by Mark Alexander

18:59 PM, 4th February 2014, About 8 years ago

Reply to the comment left by "Vanessa Warwick" at "04/02/2014 - 18:49":

ooo err Mrs!

I was merely re-stating a point I had made well before you commented Vanessa, discrediting your efforts never even entered my thoughts.

I could just as easily have pointed Peter to our own mortgage sourcing system but didn't feel it was appropriate to his question.
.

by Neil Patterson

9:21 AM, 5th February 2014, About 8 years ago

Ok just to back up everything everyone above has said as they are all correct and very helpful.

I have spent twenty years in the mortgage industry spoken to thousands of BTL customers and spent a £million of Mark's money developing a bespoke broker BTL sourcing and application system working with the lenders.

But

The one constant in this world is that no two deals are the same and you just have to start from scratch when assessing each application.

I spend hours every week on our own BTL quote engine http://www.property118.com/buy-to-let-mortgage-calculator-2/ which is brilliant for research (I would say that lol) but when you have an actual property ready to be financed you need to speak to a human still.
.

by Howard Reuben CeMap CeRER

9:40 AM, 5th February 2014, About 8 years ago

Reply to the comment left by "Neil Patterson" at "05/02/2014 - 09:21":

What's a "human still" ? 🙂

by Mark Alexander

9:42 AM, 5th February 2014, About 8 years ago

Reply to the comment left by "Howard Reuben" at "05/02/2014 - 09:40":

An IFA waiting to pounce on his next victim perhaps?
.

by

9:47 AM, 5th February 2014, About 8 years ago

Hi Neil,

Having spoken on the "expert panel" at an event recently, one of the topics raised was how annoying it is, when you are just searching for general information and inputs on mortgages, to have to go through a fact find with a broker before they will speak to you.

That is the value of mortgage sourcing tools and the list I supplied.

They are often for people who are "browsing" , not "buying".

When they are in buying mode, then that's the time to seek professional advice.

I am sure Howard would agree that an informed and educated landlord is an easy customer and can be assisted more quickly, than someone who hasn't got a clue what they want.

I am also fairly sure that Howard and brokers in general would prefer to invest their time in helping customers in buying mode, not those who just browsing around or at the research stage.

I think its important to understand the distinction .... then we can all be right. 🙂

by Howard Reuben CeMap CeRER

9:57 AM, 5th February 2014, About 8 years ago

Reply to the comment left by "Mark Alexander" at "05/02/2014 - 09:42":

Or I prefer the definition (https://www.google.co.uk/#q=definition+of+still) that says that someone who is 'still' provides "silence and calm" - which is very apt as an IFA can indeed provide such peace of mind for someone who is faced with a minefield of info and products to work through 🙂

by Jeremy Smith

10:01 AM, 5th February 2014, About 8 years ago

Reply to the comment left by "Howard Reuben" at "05/02/2014 - 09:40":

🙂 🙂
A human still -
I guess it gets to the essence of a person !

🙂 🙂

by Neil Patterson

10:04 AM, 5th February 2014, About 8 years ago

Reply to the comment left by "Vanessa Warwick" at "05/02/2014 - 09:47":

Hi Vanessa,

Yes I totally agree, that is what I think I said/meant.

Research tools for research, humans for actual deals.

And Howard, a still broker is better than a moving one when doing a fact find silly 🙂

by Neil Patterson

10:10 AM, 5th February 2014, About 8 years ago

Reply to the comment left by "Neil Patterson" at "05/02/2014 - 10:04":

No Actually I disagree with myself now Neil.

From experience it is 100000000% better to speak to a customer first and put them on the right track before they find a deal than sort out a mess later.

Yes definitely agree with myself now and quote engines rock 🙂


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