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  • Ex-pat becomes first-time landlord | Mortgages for Business
    Duty Calculator Property Development Finance Property development finance Rates Loans Fees How to apply Refurbishment finance Bridging short term finance Bridging short term finance Bridging loans Refurbishment finance Auction Finance Residential mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Ex pat becomes first time landlord 18 05 15 Buy to let Mortgages Case Study A broker approached us for finance for his client who is an ex pat living in Australia The client was looking to purchase her first buy to let property a 1 bed flat in a newly built block of flats in Manchester The broker had experienced difficulties placing this case with other lenders for two main reasons the client is A first time landlord An ex pat The client works for an international recruitment company earning a good salary so her profile fitted the Keystone Solutions Range Accordingly we were able to offer the following deal Property value 115 000 Loan amount 85 000 LTV 74 Range Keystone Solutions for Individuals Product 8 49 fixed for 3 years Terms 3 years interest only Rent 650pcm Gross yield 6 8 pa Monthly mortgage payment 601pcm Facility fee 3 2 550

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/ex-pat-becomes-first-time-landlord/ (2016-02-16)
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  • Full-time landlord with hard to prove income raises capital on London flat | Mortgages for Business
    apply Refurbishment finance Bridging short term finance Bridging short term finance Bridging loans Refurbishment finance Auction Finance Residential mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Full time landlord with hard to prove income raises capital on London flat 13 05 15 Buy to let Mortgages Case Study The client is a full time landlord with a large portfolio of more than 20 rental properties In order to expand his portfolio he was looking to raise finance on an unencumbered 2 bed rental flat in East London Unfortunately his tax returns showed carried forward losses incurred through refurbishment costs In many lenders eyes this is viewed as having no perceptible rental income so placing the case proved to be a challenge Fortunately we found a lender that was happy to rely on a good credit history rather than a certain level of income The credit report was supported with positive well conducted bank statements proving the actual rental income Here are the details of the deal Property value 280 000 Loan amount 210 000 Loan to value 75 Rate 3 76 2 year discounted LIBOR tracker Term 25 years interest only Monthly mortgage

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/full-time-landlord-with-hard-to-prove-income-raises-capital-on-london-flat/ (2016-02-16)
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  • Ex-pat directors of SPV Ltd Co refinance to expand portfolio | Mortgages for Business
    Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Ex pat directors of SPV Ltd Co refinance to expand portfolio 13 05 15 Buy to let Mortgages Case Study We were approached by the directors of an SPV limited company which owns numerous rental properties They were looking to buy a 2 bed flat in London to add to their portfolio As two of the directors live overseas the choice of lender was restricted as many providers will not accept ex pats Fortunately we have direct access to a specialist buy to let lender that not only accepts SPVs but will also consider ex pats who had to provide the following information in support of their application Evidence of UK buy to let experience tax returns SA302s Proof of UK citizenship Proof of residency abroad not PO Box within last three months Proof of residency in UK within last five years Proof of UK mailing address not security address A copy of overseas contract Proof of salary last three months bank statements Have a UK bank account for rent payments Both directors were able to provide this detailed documentation and so the following terms were offered Property Value 175 000 Loan amount 115 000 Loan to value 66 Rate 5 14 loan term tracker Term 20 years interest only Monthly mortgage payment 492 Monthly rental income 925 Annual

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/ex-pat-directors-of-spv-ltd-co-refinance-to-expand-portfolio/ (2016-02-16)
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  • Landlord purchases high-value low-rent property | Mortgages for Business
    Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Landlord purchases high value low rent property 13 05 15 Buy to let Mortgages Case Study The client is a full time landlord with a large portfolio of rental properties He was looking for a 75 loan to value mortgage to buy a 2 bed terraced house in London priced at 300 000 Unfortunately the expected rent of 1 000 pcm meant that the case would not meet the rent to interest RTI calculation of most lenders so the choice of finance was limited See below for more details on RTI The scenario was further complicated by the fact that the landlord s sole income is from rent and he has in excess of 10 mortgaged buy to let properties We approached one of the new specialist lenders that caters to the finance needs of more experienced landlords with large portfolios Crucially they have a more lenient rental stress test which meant that the client was able to borrow around 20 more than he would have been able to get from other lenders Here are the details of the deal Property Value 300 000 Loan amount 225 000 Loan to value 75 Rate 4 09 5 year fixed Term 10 years interest only Monthly mortgage payments 766 88 Monthly rental income 1 000 Annual gross yield 5 33 Lender arrangement fee 1 5 Consultant Jeni Browne Tel 01732 471647 Understanding Rent to Interest Calculation The Rent to Interest calculation is the ratio of

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/landlord-purchases-high-value-low-rent-property/ (2016-02-16)
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  • Ltd Co with 72 year old director refinances flat leased to housing association | Mortgages for Business
    Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Ltd Co with 72 year old director refinances flat leased to housing association 13 05 15 Buy to let Mortgages Case Study We were approached by the directors of a London based property rental company who wanted to raise capital to expand their business portfolio from four to five properties The directors are a father and son team The father is 72 years old and in addition to being a director of the business he also owns two buy to let properties in his own name and the son owns five personally The property they were looking to refinance is a 3 bed ex council flat in W2 leased for three years to a housing association which generates 2 000 pcm in rent The challenge for us was to find a lender that would Accept the father as a borrower most buy to let lenders consider him to be too old Accept an ex council flat as security Allow longer leases to housing associations This complicated scenario meant that the choice of lender would be somewhat restricted So we approached one of the new specialist lenders to the buy to let mortgage market It was happy to lend on the flat with the existing lease arrangement but their lending criteria meant that the father would be technically too old at the end of the proposed 10 year mortgage term We were able to successfully argue the case because the father had extensive landlord

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/ltd-co-with-72-year-old-director-refinances-flat-leased-to-housing-association/ (2016-02-16)
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  • Ex-pat refinances London flat to raise capital | Mortgages for Business
    Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Ex pat refinances London flat to raise capital 13 05 15 Buy to let Mortgages Case Study The client is an ex pat who has been living in the Far East since the early 90s working for a multi national company He owns four properties in the UK three of which are let out He was looking to raise capital against one of these a one bed rental flat in London to fund a further buy to let purchase in the UK The flat is in excellent condition located in East London and is currently tenanted by a working couple There were two main challenges for us with this enquiry 1 Not many lenders will accept ex pats who have lived abroad for more than five years because the ex pat s credit footprint is likely to be sketchy which makes it hard for the lender to take a confident risk based lending decision 2 The fact that the client lives in South Korea was a potential problem because this country is off the radar for many lenders We approached a lender that makes human rather than computer based underwriting decisions and put forward a proposal which showed that the client could demonstrate Extensive buy to let experience A reasonably lowly geared property portfolio He held a senior position with a multi national corporation He had

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/ex-pat-refinances-london-flat-to-raise-capital/ (2016-02-16)
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  • Limited company refinances converted multi-unit | Mortgages for Business
    loans Refurbishment finance Auction Finance Residential mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Limited company refinances converted multi unit 29 04 15 Buy to let Mortgages Case Study Our customer a professional property investor and director of a trading limited company was looking to raise capital on a converted residential investment property held in the company name The property was a former retail unit with living accommodation above which had been owned for a number of years Following conversion into two separate flats the property had increased in value significantly and the applicant now wished to extract equity from this property in order to fund further expansion of their property portfolio We were able to source a lender that would lend to a trading limited company at up to 75 of the freehold property value thus maximising the amount that could be borrowed The applicant was then able to purchase a further investment property that we were also able to arrange funding on Here are the details of the deal Property value 400 000 Loan amount 300 000 Loan to value 75 Rate 4 39 term tracker Term 10 years interest only

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/limited-company-refinances-converted-multi-unit/ (2016-02-16)
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  • Ex-pat refinances 6-bed HMO | Mortgages for Business
    to apply Refurbishment finance Bridging short term finance Bridging short term finance Bridging loans Refurbishment finance Auction Finance Residential mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Ex pat refinances 6 bed HMO 29 04 15 Buy to let Mortgages Case Study The client is an ex pat who has been living in Australia for the past three years working in the healthcare industry He has two buy to let properties in the UK one of which is a six bed HMO He was looking to refinance the HMO to raise capital and expand his property portfolio His ex pat status along with the property being a HMO was proving problematic with mainstream buy to let lenders We decided the best option was to contact a peer to peer lender who assesses applications on a case by case basis The chosen lender was happy with the clients experience and income and agreed to lend on the property Here are the details of the deal Property value 375 000 Loan amount 281 250 Loan to value 75 Rate 4 39 term tracker Term 10 years interest only Monthly mortgage payment 1 029 Monthly rental

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/ex-pat-refinances-6-bed-hmo/ (2016-02-16)
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