Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
So many buy to let borrowers get frustrated because BM Solutions will only allow them to have 3 buy to let mortgages. However, now they have removed their minimum income requirements, this criteria is very easy to overcome for many borrowers.
The answer is to own the properties in your individual names. That way a couple can have three mortgages with BM Solutions each. Hey presto, that’s six mortgages with BM Solutions.
The are also many other advantages of owning the properties in individual as opposed to joint names. For details of this see my Landlord Tax Strategy.
If you would like to discuss further borrowing strategies why not have a chat with my business Partner, Neil Patterson. His contact details are firstname.lastname@example.org or you can call him on 01603 489 118.
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