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  • Mortgage Jargon | Mortgages for Business
    will pay for a set period For example the lender may set the rate at 5 75 for the first three years After this fixed rate period the rate you pay will change to a rate linked to BBR LIBOR or SVR Freehold A situation where the owner owns both the property and the land that it is on HMO A property is a House in Multiple Occupation if you let or plan to let to at least three tenants who form more than one household and who share or will share toilet bathroom or kitchen facilities Many HMOs require a licence to operate from the local council Interest Only Mortgage With an interest only mortgage your monthly payments are simply the interest on the mortgage loan This means that your monthly payments do NOT reduce the actual loan amount It is therefore important to have some other investment plan in place in order that you can pay off the mortgage at the end of the loan period Leasehold This is common with flats in the UK It is the expression used when you own purchase the property but not the land it is built on After a set number of years the lease will need to be re purchased extended otherwise the property will eventually revert to the freeholder Lender This is the entity that is lending the money for the mortgage for example a bank or building society Legal Fees These fees covers the aspects associated with the conveyance of your mortgage The amount can vary greatly depending on the complexity of the application LTV The Loan to Value is the size of the loan calculated as a percentage of the property value For example if a property is valued at 100 000 and the mortgage you take is for 65 000 then the LTV is 65 LIBOR The London InterBank Offered Rate is the interest rate at which lenders borrow and lend money to each other Each bank sets its own LIBOR dependent on its own cost of borrowing This rate may be the rate on which your mortgage is based instead of the BBR or SVR Mortgage This is a loan used to buy a property The property is used as the security against you paying back the loan Therefore if you default on the loan your property may be repossessed Mortgages can be taken out on a variety of properties including flats houses shops offices and hotels Mortgage Broker This is a company or individual that sources and brokers mortgages They are experienced professionals and work for you not the lender The advantage of using a mortgage broker is that they can save you time and money because of their extensive market knowledge experience and relationships with lenders Negative Equity This occurs when the value of the property is worth less than the outstanding value of the mortgage Personal Guarantees A personal guarantee is an undertaking by an individual usually a director or shareholder of

    Original URL path: http://mortgagesforbusiness.co.uk/property-finance/customer/buy-to-let-mortgages/buy-to-let-explained/mortgage-jargon/ (2016-02-16)
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  • Buy to let mortgage fees | Mortgages for Business
    the application process When taking out a buy to let mortgage or remortgaging your existing residential investment property you will incur a variety of fees Buy to let mortgage fees tend to be higher than those you would incur with standard residential mortgages so it is important that you understand the application process and what you are paying for Application Fee This is payable to Mortgages for Business who in turn pay the surveyor for the actual property valuation which is required by the buy to let mortgage lender Please note that a copy of this valuation is normally only sent to the buy to let mortgage lender The application fee must be paid before the valuation can be instructed Up to 100 of the application fee may be retained by Mortgages for Business to cover processing costs and you will be informed if this is the case Booking Fee Some buy to let mortgage lenders charge a booking fee for securing a particular buy to let mortgage rate This fee is usually found on fixed rate buy to let mortgage products The booking fee must be paid upon submission of the buy to let mortgage application Broker Fee At Mortgages for Business we do not charge clients for initial advice and we offer our clients a choice of fee structures Our standard broker fee is 497 which is payable on receipt of an acceptable formal mortgage offer from the lender Alternatively clients can elect to pay a reduced but non refundable broker fee of 297 which is payable once the application has been agreed in principle by the lender and before a valuation has been instructed With both these options we will retain any commission payments paid by the lender Alternatively we will rebate to the client any commission paid by the lender to us and charge the client a broker fee of typically 1 of the total loan amount exact percentage will depend upon the size and complexity of the mortgage application To discuss our broker fees in more detail please contact one of our mortgage consultants on 0845 345 6788 Legal Fees Legal fees are payable to the solicitor for conveyancing of the property and include things like searches and registration with the Land Registry The buy to let mortgage lender will normally use the same solicitor as the customer the practice must have two or more partners All legal fees are payable by the borrower including disbursements as and when required by the solicitors Lender Arrangement Fee This is payable by the borrower to the buy to let mortgage lender at or before completion of the mortgage Usually it is either added or subtracted from the loan but borrowers can pay it separately Payment We accept payments by debit card Payments by other cards including credit cards are subject to a 2 surcharge Please note we are unable to accept American Express cards Telegraphic Transfer Fees These fees are for transferring money and may be charged

    Original URL path: http://mortgagesforbusiness.co.uk/property-finance/customer/buy-to-let-mortgages/buy-to-let-explained/fees-how-to-apply/ (2016-02-16)
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  • Buy to Let App | Mortgages for Business
    Let is a FREE iPhone and Android app for residential property investors who need instant access to buy to let mortgage rate information The app includes a comprehensive calculator to help you search for rates that fit your circumstances and borrowing requirements Includes a handy property portfolio manager Description Whether you want to borrow personally or using a limited company Buy To Let is a FREE APP that helps landlords and property investors find and compare the latest buy to let mortgages based on their financial circumstances and property requirements It also provides a portfolio manager for keeping a record of properties together with their mortgage details GREAT REASONS TO DOWNLOAD THIS APP Instant powerful search of the latest buy to let mortgages on the market available to personal and limited company borrowers Find out which products fit your financial circumstances and property requirements Find the maximum amount of money you can borrow on a particular product factoring in the rental income Keep a record of all the properties and their mortgages in your buy to let property portfolio Find the best remortgage deals for properties in your portfolio FANTASTIC APP FEATURES Please note some of the features listed below are currently only available to Android users The new iPhone app which will include all of the listed features is due for release shortly 1 Buy to let mortgage searches Up to date buy to let mortgage search delivered instantly from Mortgages for Business s comprehensive and unique products database Search for HMO mortgages Search for buy to let mortgages suitable for limited company and or personal borrowers Sort results by rate lender fee maximum LTV rent required maximum you can borrow monthly mortgage payment APR or mortgage type Detailed financial summaries of each buy to let mortgage including the

    Original URL path: http://mortgagesforbusiness.co.uk/property-finance/customer/buy-to-let-mortgages/buy-to-let-app/buy-to-let-app/ (2016-02-16)
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  • Residential Stamp Duty Calculator | Mortgages for Business
    to work out how much stamp duty is due before and after 1st April 2016 when a 3 surcharge will be introduced on purchases of additional residential properties including buy to let properties and second homes NEW Stamp Duty Calculator Stamp Duty Land Tax for individuals buying residential property and for all buy to let purchases Submit On completions on or before 31st March 2016 you will pay From 1st April 2016 you will pay on first home purchases and on all BTL and second home purchases Stamp duty payable Stamp Duty Land Tax SDLT Rates Stamp Duty is applicable in England Wales Northern Ireland Scotland imposes a Land and Buildings Transactions Tax LBTT scroll down for further information Stamp duty on residential property is calculated on a progressive sliding scale with the tax being determined by reference to the SDLT rate for each relevant band or slice of chargeable consideration Property price SDLT Rate Up to 125 000 0 125 000 01 250 000 2 250 000 01 925 000 5 925 000 01 1 500 000 10 1 500 000 01 12 Example On a property priced at 200 000 stamp duty would be payable on 2 of 75 000 the amount above 125 000 1 500 Total 1 500 3 SDLT Surcharge on Buy to Let and Second Home Purchases With effect from 1st April 2016 a surcharge of 3 of the total purchase price will apply on purchases of additional residential properties such as buy to let properties and second homes Example On a buy to let or second home property priced at 200 000 stamp duty would be payable on 75 000 the amount above 125 000 1 500 Plus 3 of 200 000 6 000 Total 7 500 Land Buildings Transaction Tax LBTT Rates

    Original URL path: http://mortgagesforbusiness.co.uk/calculators/residential-stamp-duty-calculator/ (2016-02-16)
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  • Buy to Let Remortgages | Mortgages for Business
    2 year term Max LTV 60 Arrangement fee 1 999 due on completion Early repayment charges Yes Overall cost for comparison 4 8 APR Detailed information Get quote Product 1 75 Fixed for 2 years to 01 06 2018 Initial Rate 1 75 Rate Type Discounted Initial Period 2 years to 01 06 2018 Max LTV 50 Arrangement fee 1 995 due on completion Early repayment charges Yes Overall cost for comparison 4 8 APR Detailed information Get quote Product 1 79 Fixed for 2 year term Initial Rate 1 79 Rate Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 2 495 due on completion Early repayment charges Yes Overall cost for comparison 5 5 APR Detailed information Get quote Product 1 79 Fixed for 2 year term Initial Rate 1 79 Rate Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 2 495 due on completion Early repayment charges Yes Overall cost for comparison 5 5 APR Detailed information Get quote Product 1 84 Fixed for 2 years to 30 04 2018 Initial Rate 1 84 Rate Type Fixed Initial Period 2 years to 30 04 2018 Max LTV 60 Arrangement fee 2 495 due on completion Early repayment charges Yes Overall cost for comparison 5 5 APR Detailed information Get quote Product 1 89 Fixed for 2 year term Initial Rate 1 89 Rate Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 2 495 due on completion Early repayment charges Yes Overall cost for comparison 5 6 APR Detailed information Get quote Product 1 89 Fixed for 2 year term Initial Rate 1 89 Rate Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 2 495 due on completion Early repayment charges Yes Overall cost for comparison 5 6 APR Detailed information Get quote Product 1 93 Fixed for 2 years to 31 03 2018 Initial Rate 1 93 Rate Type Discounted Initial Period 2 years to 31 03 2018 Max LTV 60 Arrangement fee 1 995 due on completion Early repayment charges Yes Overall cost for comparison 4 4 APR Detailed information Get quote Product 1 94 Fixed for 2 year term Initial Rate 1 94 Rate Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 999 due on completion Early repayment charges Yes Overall cost for comparison 4 8 APR Detailed information Get quote Product 1 99 Fixed for 2 years to 30 04 2018 Initial Rate 1 99 Rate Type Fixed Initial Period 2 years to 30 04 2018 Max LTV 60 Arrangement fee 1 999 due on completion Early repayment charges Yes Overall cost for comparison 4 8 APR Detailed information Get quote View other rates Select Buy to Let Remortgages All Rates Best Buys Lifetime Tracker Rates Fixed Rates Discounted Tracker Rates HMO Mortgage Rates Limited Company Rates 1 2 3 4 84 Next Some of our lenders Need help Meet the team Nick Helm ACIB

    Original URL path: http://mortgagesforbusiness.co.uk/products/buy-to-let-remortgages/ (2016-02-16)
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  • Buy to Let Mortgage Rates | Mortgages for Business
    2 year term Initial Rate 1 74 Rate Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 1 999 due on completion Early repayment charges Yes Overall cost for comparison 4 8 APR Detailed information Get quote Product 1 74 Fixed for 2 year term Initial Rate 1 74 Rate Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 1 999 due on completion Early repayment charges Yes Overall cost for comparison 4 8 APR Detailed information Get quote Product 1 75 Fixed for 2 years to 01 06 2018 Initial Rate 1 75 Rate Type Discounted Initial Period 2 years to 01 06 2018 Max LTV 50 Arrangement fee 1 995 due on completion Early repayment charges Yes Overall cost for comparison 4 8 APR Detailed information Get quote Product 1 79 Fixed for 2 year term Initial Rate 1 79 Rate Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 2 495 due on completion Early repayment charges Yes Overall cost for comparison 5 5 APR Detailed information Get quote Product 1 79 Fixed for 2 year term Initial Rate 1 79 Rate Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 2 495 due on completion Early repayment charges Yes Overall cost for comparison 5 5 APR Detailed information Get quote Product 1 79 Fixed for 2 year term Initial Rate 1 79 Rate Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 2 495 due on completion Early repayment charges Yes Overall cost for comparison 5 5 APR Detailed information Get quote Product 1 84 Fixed for 2 years to 30 04 2018 Initial Rate 1 84 Rate Type Fixed Initial Period 2 years to 30 04 2018 Max LTV 60 Arrangement fee 2 495 due on completion Early repayment charges Yes Overall cost for comparison 5 5 APR Detailed information Get quote Product 1 84 Fixed for 2 years to 30 04 2018 Initial Rate 1 84 Rate Type Fixed Initial Period 2 years to 30 04 2018 Max LTV 60 Arrangement fee 2 495 due on completion Early repayment charges Yes Overall cost for comparison 5 5 APR Detailed information Get quote Product 1 89 Fixed for 2 year term Initial Rate 1 89 Rate Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 2 495 due on completion Early repayment charges Yes Overall cost for comparison 5 6 APR Detailed information Get quote Product 1 89 Fixed for 2 year term Initial Rate 1 89 Rate Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 2 495 due on completion Early repayment charges Yes Overall cost for comparison 5 6 APR Detailed information Get quote View other rates Select Buy to Let Remortgages All Rates Best Buys Lifetime Tracker Rates Fixed Rates Discounted Tracker Rates HMO Mortgage Rates Limited Company Rates 1 2 3 4 109 Next Some of our lenders Need

    Original URL path: http://mortgagesforbusiness.co.uk/products/all-rates/ (2016-02-16)
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  • Best Buy to Let Mortgage Rates | Mortgages for Business
    Type Discounted Initial Period 2 year term Max LTV 60 Arrangement fee 1 999 due on completion Early repayment charges Yes Overall cost for comparison 4 8 APR Detailed information Get quote Product 2 29 Fixed for 2 year term Initial Rate 2 29 Rate Type Discounted Initial Period 2 year term Max LTV 75 Arrangement fee 1 999 due on completion Early repayment charges Yes Overall cost for comparison 5 3 APR Detailed information Get quote Product 2 49 Fixed for 2 years to 02 05 2018 Initial Rate 2 49 Rate Type Fixed Initial Period 2 years to 02 05 2018 Max LTV 75 Arrangement fee 1 5 due on completion Early repayment charges Yes Overall cost for comparison 4 7 APR Detailed information Get quote Product 3 04 Fixed for 5 years to 30 04 2021 Initial Rate 3 04 Rate Type Fixed Initial Period 5 years to 30 04 2021 Max LTV 60 Arrangement fee 1 999 due on completion Early repayment charges Yes Overall cost for comparison 4 6 APR Detailed information Get quote Product 3 14 Fixed for 2 years to 30 04 2018 Initial Rate 3 14 Rate Type Fixed Initial Period 2 years to 30 04 2018 Max LTV 65 Arrangement fee 1 995 due on completion Early repayment charges Yes Overall cost for comparison 4 6 APR Detailed information Get quote Product 3 45 Fixed for 2 years to 30 04 2018 Initial Rate 3 45 Rate Type Fixed Initial Period 2 years to 30 04 2018 Max LTV 80 Arrangement fee 1 0 due on completion Early repayment charges Yes Overall cost for comparison 5 3 APR Detailed information Get quote Product 3 55 Fixed for 5 years to 30 04 2021 Initial Rate 3 55 Rate Type Fixed Initial Period 5 years to 30 04 2021 Max LTV 75 Arrangement fee 1 999 due on completion Early repayment charges Yes Overall cost for comparison 4 6 APR Detailed information Get quote Product 3 70 Fixed for 2 years to 31 03 2018 Initial Rate 3 70 Rate Type Fixed Initial Period 2 years to 31 03 2018 Max LTV 75 Arrangement fee 1 5 due on completion Early repayment charges Yes Overall cost for comparison 5 4 APR Detailed information Get quote Product 4 69 Fixed for 2 year term Initial Rate 4 69 Rate Type Discounted Initial Period 2 year term Max LTV 80 Arrangement fee 2 0 due on completion Early repayment charges No Overall cost for comparison 6 7 APR Detailed information Get quote Product 4 99 Fixed for 2 year term Initial Rate 4 99 Rate Type Discounted Initial Period 2 year term Max LTV 85 Arrangement fee 2 5 due on completion Early repayment charges No Overall cost for comparison 6 8 APR Detailed information Get quote View other rates Select Buy to Let Remortgages All Rates Best Buys Lifetime Tracker Rates Fixed Rates Discounted Tracker Rates HMO Mortgage Rates Limited Company Rates 1

    Original URL path: http://mortgagesforbusiness.co.uk/products/best-buys/ (2016-02-16)
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  • Buy to Let Lifetime Tracker Rates | Mortgages for Business
    LTV Arrangement fee Early repayment charges Product 2 49 Fixed for N A Initial Rate 2 49 Rate Type Tracker Initial Period N A Max LTV 65 Arrangement fee 1 999 due on completion Early repayment charges No Overall cost for comparison 2 7 APR Detailed information Get quote Product 2 49 Fixed for N A Initial Rate 2 49 Rate Type Tracker Initial Period N A Max LTV 65 Arrangement fee 1 999 due on completion Early repayment charges No Overall cost for comparison 2 7 APR Detailed information Get quote Product 2 59 Fixed for N A Initial Rate 2 59 Rate Type Tracker Initial Period N A Max LTV 65 Arrangement fee 999 due on completion Early repayment charges No Overall cost for comparison 2 7 APR Detailed information Get quote Product 2 65 Fixed for N A Initial Rate 2 65 Rate Type Tracker Initial Period N A Max LTV 75 Arrangement fee 1 999 due on completion Early repayment charges No Overall cost for comparison 2 8 APR Detailed information Get quote Product 2 65 Fixed for N A Initial Rate 2 65 Rate Type Tracker Initial Period N A Max LTV 65 Arrangement fee 1 999 due on completion Early repayment charges No Overall cost for comparison 2 8 APR Detailed information Get quote Product 2 65 Fixed for N A Initial Rate 2 65 Rate Type Tracker Initial Period N A Max LTV 75 Arrangement fee 1 999 due on completion Early repayment charges No Overall cost for comparison 2 8 APR Detailed information Get quote Product 2 79 Fixed for N A Initial Rate 2 79 Rate Type Tracker Initial Period N A Max LTV 65 Arrangement fee 999 due on completion Early repayment charges No Overall cost for comparison 2 9 APR Detailed information Get quote Product 2 79 Fixed for N A Initial Rate 2 79 Rate Type Tracker Initial Period N A Max LTV 65 Arrangement fee 999 due on completion Early repayment charges No Overall cost for comparison 2 9 APR Detailed information Get quote Product 2 89 Fixed for N A Initial Rate 2 89 Rate Type Tracker Initial Period N A Max LTV 70 Arrangement fee 999 due on completion Early repayment charges No Overall cost for comparison 3 0 APR Detailed information Get quote Product 2 89 Fixed for N A Initial Rate 2 89 Rate Type Tracker Initial Period N A Max LTV 70 Arrangement fee 999 due on completion Early repayment charges No Overall cost for comparison 3 0 APR Detailed information Get quote View other rates Select Buy to Let Remortgages All Rates Best Buys Lifetime Tracker Rates Fixed Rates Discounted Tracker Rates HMO Mortgage Rates Limited Company Rates 1 2 3 4 11 Next Some of our lenders Need help Meet the team Paul Martins CeMAP CertBB C 01732 471616 Email Steve Olejnik CeMAP DipCF 01732 471612 Email Andy McOwat CeMAP CertBB C 01625 416396 Email Jeni Browne CeMAP Adv CeMAP

    Original URL path: http://mortgagesforbusiness.co.uk/products/lifetime-tracker-rates/ (2016-02-16)
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