Buy to Let Landords - are you ready for the lending changes? Private Finance are here to help

From the 1st October, after the introduction of stricter affordability tests for all Buy to Let mortgages at the beginning of the year, the latest set of requirements from the Prudential Regulation Authority are targeting loans to portfolio landlords with four or more mortgaged buy-to-let properties. These rules mean that mortgage lenders will have to undertake a full assessment of the entire property portfolio rather than just analysing the single property deal relating to the individual mortgage.
This new regulation has painted a worrying picture for Buy to Let portfolio owners. Threats of lenders pulling out of the mortgage market, complicated assessments leading to longer application times, increased fees due to increased complexity are all real consequences of the changes, however Private Finance are here to look after these worries and make the process as simple and straightforward as possible.

Given the arrival of the changes in the next 2 weeks, Private Finance Managing Director Simon Checkley has the following counsel,
“Our experienced and knowledgeable brokers will guide you through the new requirements for the lenders and help get your paperwork in order. This is likely to include a property schedule detailing addresses, values, rental income and mortgage arrangements, the last couple of years’ tax returns and details of any other assets and liabilities you hold, but our brokers will help you every step of the way.
Our expertise and close relationships with the mortgage lending market means that we already have insight into the new requirements of each lender and will be able to lead you through the application procedure smoothly. We will always ensure we negotiate the best possible terms for your case and advise you at every stage of the process."


Buy to Let Landords - are you ready for the lending changes? Private Finance are here to help


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© Private Finance Limited, 2018. Private Finance provides independent mortgage advice and arranges individual mortgage solutions for clients. Private Finance is a trading style of Private Finance Ltd, 29 Lincolns Inn Fields, London, WC2A 3EG, registered in England no. 3855776 and its Appointed Representatives. Private Finance Limited is authorised and regulated by the Financial Conduct Authority (FCA registration number 310566).

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I was recommended to Michelle Clack at private finance by a friend. I found her amazingly responsive and flexible. I had asked a previous broker if he could help and he said he couldn't get me a mortgage based on my circumstances but not only did Michelle deliver, she found me a great deal in a quick time. I could not recommend her highly enough. She takes the pain (well most of it) out of buying a property. I have already recommended Michelle to other friends and colleagues.
I have used Michelle Clack as my go to mortgage broker for many years. She has been fantastic for me and got me out of a tight spot once or twice, when I was looking down the barrel of an expensive bridge loan. I recommend Michelle highly, for any mortgaging requirements.
Efficient, saved me money and the process was straightforward. Michelle Clack was great.
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