4.97 out of 5 based on 2,400+ reviews
4.97 out of 5 based on 2,400+ reviews
Private Finance are here to help you navigate the latest changes in the buy-to-let market effective from October 1st 2017.
Rated 4.97 out of 5 from 2,400+ reviews
From the 1st October, after the introduction of stricter affordability tests for all Buy to Let Landlord 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.
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.”
To learn more about your mortgage options, you can reach our team on 0800 652 0971 or email info@privatefinance.co.uk.
This article is based on information available on the date of issue, 22nd September 2017
Please remember that your home could be repossessed if you do not keep up with repayments on your mortgage.
Whatever your situation, our premier mortgage team, can advise on the best solution. We specialise in complex and bespoke mortgage solutions to help you find the best possible terms.
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