![]()
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effects of the credit crunch on BTL & HMO lending. Previously property investors enjoyed being able fund their purchases of high yield HMO multiple occupancy property with deposits as low as 15%, with 85% of the purchase price or property value being funded by the mortgage. During this economic downturn we have seen lenders continually reducing the amount they are willing to lend down to 80% and now 75% across the general BTL mortgage market. We have also seen key lenders in the HMO market changing lending criterias, rental calculation values, and major factors such as maximum number of letting rooms allowed. Some major players in the market have withdrawn all HMO or multiple occupancy lending products altogether. We have contacts with every lender in the market today and have continued to arrange HMO and multiple occupancy mortgages for our clients, either purchasing or remortgaging property. The chart below illustrates the current situation between single BTL (ie one household renting, one AST) lending and HMO or Multiple occupancy lending. HMO Buy to let Landlords mortgage table (Summer 2009)
. Mortgages for HMO Landlord rental property. Professional & Large HMO's 85% LTV
On the Purchase Price HMO mortgage for prime rental property Fantastic Product. Ideal for large loan sizes and rental property portfolilo This is a bank base rate tracker mortgage. 3.5 percentage points over BoE BBR of 1.0%. Property Types Accepted: Self contained flats in 1 freehold Large HMO's Student Lets and Student Halls (Restricted to 75%) No Early Repayment Charges (ERC) Perfect for Below market value purchases (BMVs) Rental calculation is 125% based on 7% interest only Allow refinance from bridging Loan within 6months Fast Track Legal Services Call now to discuss this mortgage for your property.
New AMV mortgage facility. No deposit required click here.
Interest rate now 5.69% 2yr Fixed No verification of personal income Rental assessment by letting agent letter
This HMO mortgage is just 5.69% Fixed for 2 years. Suitable for the larger HMO property with up to 15 letting rooms in the property. Suitable for individual AST's or single AST. Lenders arrangement fee is just 1% added to the loan Call now to discuss or to find out what other deals are available.
Free Mortgage Quotations for H.M.O and Multi Let residential investment property
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Best BTL HMO Letting mortgages for share houses, multiple AST's, Bedsits & Flats under 1 freehold. *please call for latest rates and LTV's while lending criteria are changing* Subject to status and underwriting
Please call about Loans on OMV for Below market Value purchases. Bridge and refinance plans may be utilised to effect no cash deposit. Loans can be based on the OMV Open market valuation of the property irrespective of the purchase price. Therefore where a significant discount has been arranged. The loan amount can also be greater than the purchase price so in some instances a 'cashback' can be gained.
The remortgage legal fees are free, and no lenders arrangement fees. We also wont charge you a broker fee for a completly FEES FREE remortgage.
Other features:
(All this in the same remortgage product) This product is ideal for landlords requiring capital raising on existing property. In the current economic climate we are finding that even landlords existing lenders are not accepting applications for further advances or re-mortgages for capital raising on their existing core business. Want to know more or apply today: Telephone us today and speak to one of our mortgage advisers who will email you a personalised mortgage illustration to confirm this mortgage. Application process is the same, we will complete the mortgage application over the phone with you, package and submit to the lender and manage through to completion. The valuation is free for most properties, on larger properties the first £335.00 of the valuation is paid. We anticipate this product will not last long as funds at this criteria are limited. Call us on 0117 2232050 or enquire online with our online BTL application form . As Allways Free Quotations and No Obligation
Please contact us for approval and illustration on the above mortgage schemes.Display is none Div. For editing purposes only. Remortgage schemes with Free Valuation and Free legal fees. Many more schemes available call us for details. Rates Updated Daily
(Product expired)
(Product Expired)
Please contact us for approval and illustration on the above mortgage schemes.
ENQUIRE BELOW FOR OUR HMO EXCLUSIVE MORTGAGE DEALS FOR A FREE NO OBLIGATION QUOTATION COMPLETE THE FORM OR TALK TO A MORTGAGE ADVISOR TODAY ON 0117 2232 050 Our Specialist BTL & HMO Mortgage Advisor will find the best mortgage for your HMO property. We can then email you a full written mortgage quotation. We are confident you will be impressed with our mortgages for HMO. What is a HMO property: HMOs may be defined as a building which is occupied by more than one household and where more than one householder shares an basic aminity such as a bathroom, toilet, kitchen. This excludes purpose built flats and converted buildings with self-contained flats within the building. Some Lenders definitions vary on what they consider as being HMO. Other Common Lender Definitions of a House of Multiple Occupancy:
HMO Licence News: New legislation requires HMO landlords to obtain landlord HMO licence Do you need a HMO licence for your property click here Our Exclusive HMO Mortgage deals As Advertised on leading landlord portal landlordzone Development Finance | Self Build Loans Fast Bridging Finance HMO Property Mortgages AMV_Mortgage
|
www.85percent.co.uk Site forms data secured with VeriSign for your data privacy
Tested:
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
![]()
Commercial And Business Mortgage pages: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(C)Copyright 2004-2011 www . 85percent.co.uk. All rights reserved. Reproduction in whole or part in any form without prior written permission is strictly prohibited. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||