10:40 AM, 17th September 2013, About 8 years ago 7
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 email@example.com or you can call him on 01603 489 118.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
Previous ArticleBuying student let with students in situ
Next ArticleFit and Proper Landlords and Tenants - Consequences?
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|