Lucie Wade

Registered with
Friday 22nd January 2016

Latest Comments

Total Number of Property118 Comments: 5

Lucie Wade

7:53 AM, 14th January 2020
About A year ago

Transferring BTL back to a residential repayment mortgage?

If it was arranged on a consent to let then you can move back in and inform your lender. If you changed it to a proper bit to let then you can’t live there officially until you’ve changed it back to a residential. This is a simple remortgage process most of the time with free solicitors and free valuation. The downside is if the other one is not sold yet this will be taken into account by most lenders as a commitment and reduce your borrowing capacity, if you can it would be best to do it simultaneously.... Read More

Lucie Wade

11:01 AM, 22nd October 2018
About 3 years ago

Freehold maisonette above a shop - mortgage nightmare?

Best and easiest way to do this is to transfer the freehold into a Ltd company so this makes it a separate legal entity then remortgage at will to anyone of numerous lenders. The lenders will differ depending on whether this is residential or buy to let. If resi then you can go back to to say Natwest - they're fine above commercial - we've just completed an almost identical scenario to yours. If buy to let then again you have plenty of lenders to chose from depending on what other commercial units are in the row. Some lenders avoid units with off license or any this that 'smells' e.g hairdressers, dry cleaners, take away, restaurants etc. So in Summary, no need to sell the freehold, just transfer to a ltd company in your name (and of course grant your self a lease from there) - any conveyancing solicitor can do this. Good luck... Read More

Lucie Wade

15:06 PM, 2nd October 2017
About 4 years ago

Remortgaging question from out-of-the-country landlord

If you are planning on returning to the country at some point to live in it again, save on fees and make sure you get a consent to let on the property with your existing lender. A remortgage to buy to let whilst living abroad can be a straight forward process with the right lender and solicitors, but get this wrong and it is very time consuming. It will also be costly transferring from resi to BTL then back again - lender don't really like these changes and it makes them suspicious things are going on when they're really not. So in a nut shell, talk to your existing lender, ask for a consent to let and what new rates they can offer you and make sure you explain that you will be returning in the future to take up residence again. Hope that helps... Read More

Lucie Wade

9:09 AM, 12th July 2017
About 4 years ago

In advance dividends for mortgage?

Hi Michal
Try virgin and Coventry as starters, they both use salary and pre tax profit and have generous multiples. Coventry also try and use the the latest years figures without averaging where they can. If there's any late payments or extra income you want to use try Maghellan, they are extremely flexible as is Metro bank.
Good luck
Lucie (owned mortgage company 18 years)... Read More

Lucie Wade

9:04 AM, 14th March 2017
About 4 years ago

Annoyed Readers Question

There's a lender that will allow you on the mortgage but you don't go on the deeds therefore avoiding the stamp duty and will take property income. If I get time today I'll pop the details on here for you... Read More