T: 01565 654005 BOOK A CALL MESSAGE US

Posts Tagged 'HMO'

HMO Mortgage – First Time Landlord

The Issue – A first-time landlord with a 7 bed HMO was told by a specialist HMO broker they were not mortgageable due to lack of experience. They had a property worth £400,000 which they wanted to remortgage at 75% LTV after an extensive refurbishment. They were concerned they would have to wait two years before they could release the money they had in the property.

The Solution – We have access to a lender who will do HMO mortgages up to 8 beds for a new landlord at competitive rates. The previous broker thought their maximum was 6, so through our knowledge, we now have a new client and happy landlord who has now moved onto her next property.

Not rocket science but by understanding the market we know where to go and how to ask the right questions.

BTL Mortgages for Professional Landlords

One of our BTL lenders for professional landlords:

  • Up to 80% LTV
  • Standard and specialist buy-to-let products for all types of landlord (including limited companies)
  • Single residential units, HMOs and multi freeholds
  • Choice of competitive fixed and variable rates
  • No portfolio limits
  • Maximum age 85 at end of mortgage term (79 at start of the term)
  • No minimum income required for experienced landlords
  • Capital raising to 80% LTV, to fund portfolio expansion
  • New build and ex-public sector houses accepted

These products are unregulated BTL mortgages and are subject to you and the property meeting their criteria. Please contact us to discuss your requirements.

 

Precise Mortgages

Good to see Precise Mortgages will be entering into the HMO and limited company BTL market later this week. As a broker the existing HMO lenders I deal with need new competition so looking forward to seeing the rates from a lender who is very competitive.

Searchlight Finance Limited is registered in England and Wales No.07929050 Searchlight Finance Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (http://www.fca.org.uk/register) under reference 743220. The FCA do not regulate Business Buy to Let Mortgages or most Commercial Mortgages and Bridging Finance. ICO Number Z3109319. Your property may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.

Searchlight Menu