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  • Ex-pat soldier purchases buy to let in need of work | 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 soldier purchases buy to let in need of work 03 03 15 Buy to let Mortgages Case Study A broker approached us for help in arranging finance for his client a soldier and part time landlord who is currently on tour Iraq The client already owns two buy to let properties and was looking to purchase a third The property in question is a 3 bed semi detached house in his hometown of Blackpool in need of minor refurbishment before it can be let The main challenge for us was to find a lender that would not only accept an ex pat but would also accept the soldier s tax free income and his army base address Verifying the address proved somewhat difficult however we were able to obtain a work contract containing the relevant details an army reference and confirmation from HMRC that the soldier does not currently pay tax in the UK We placed the case with Keystone Buy to Let Mortgages which agreed to lend subject to 10k retention until the works were complete Here are the details of the deal Property value 88 950 Loan amount 66 710 Monthly rental income 600 LTV 75 Rate Tracker at 4 84 Lender s LIBOR 4 24 for loan term Product Keystone Classic Range standard buy to let mortgage for individuals Term 25

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/ex-pat-soldier-purchases-buy-to-let-in-need-of-work/ (2016-02-16)
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  • Ex-pat raises finance on unencumbered rental property | Mortgages for Business
    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 raises finance on unencumbered rental property 02 03 15 Buy to let Mortgages Case Study A broker asked us for help in sourcing finance for his client an ex pat working for a multi national company based in Australia The client had inherited outright a 3 bed terrace house in Plymouth that was rented out and generating 585 per month The funds raised were to be used as a deposit to buy a house in Australia The broker had been unable to access directly a lender that could help The challenge in placing the case was not only the ex pat status but also the fact that the client had lived abroad for five years meant it would be difficult carry out UK credit checks Fortunately we were able to source a lender that was willing to consider the application In addition to the usual identity and credit checks the client had to provide A copy of his overseas work contract Proof of a UK bank account to be used for the rental income Confirmation of a UK mailing address not the security address Proof of UK citizenship Evidence of buy to let experience Proof of residency abroad Proof of UK residency within the last five years The broker was able to get all the above information from his client very speedily and we prepared and submitted the application The lender turned around the case in a very tight timescale which meant

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/ex-pat-raises-finance-on-unencumbered-rental-property/ (2016-02-16)
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  • Light refurbishment loan for buy to let in need of work | 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 Light refurbishment loan for buy to let in need of work 25 02 15 Buy to let Mortgages Case Study The clients are a married couple with a portfolio of more than 10 properties They approached us for help in financing the purchase of a purpose built 2 bed flat in Manchester The flat was in need of refurbishment before it could be let This ruled out most buy to let lenders who insist that properties are in a lettable condition in order to qualify for a mortgage The couple didn t want to use a bridging loan because not only is short term finance expensive but also they would incur additional costs refinancing once the work was finished Instead we sourced a light refurbishment buy to let mortgage which is more cost effective It allowed the couple to buy the flat carry out the refurbishment and then draw down further funds once the flat was ready to let Here are the details of the deal Property price 120 000 Property value post works 135 000 Loan amount 101 250 90 000 initial loan with a retention of 11 250 to be released after works are completed Loan to value 75 of post work value Rate 2 year tracker lender s LIBOR 4 65 5 25 Term 25 years interest only Monthly mortgage payment 443 Monthly

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/light-refurbishment-loan-for-buy-to-let-in-need-of-work/ (2016-02-16)
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  • Refinance of ex-Local Authority flat to pay off bank loan | Mortgages for Business
    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 Refinance of ex Local Authority flat to pay off bank loan 28 01 15 Buy to let Mortgages Case Study The client is an experienced full time property investor who owns more than ten rental properties In 2013 he purchased a mixed use building comprising a large empty retail unit on the ground floor with eight ex Local Authority flats above Both the retail unit and the flats required refurbishment which he undertook with a bank loan On completion of the works he was able to let the retail unit to a local supermarket chain on a long lease He also rented out all eight flats then set about refinancing three of them in order to pay off the bank loan His original broker found a lender for two of the flats but the lender felt that the risk was too high to lend on three So the investor approached Mortgages for Business for help The challenge for me was to find a lender that accepted high rise blocks ex Local Authority flats and mixed use buildings These are factors most mainstream buy to let lenders avoid However I took the proposal to a specialist peer to peer provider which agreed to lend because The client had a successful track record as a property investor and landlord The flat was in a good location close to transport links The flat was generating a healthy rental income Here are the

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/refinance-of-ex-local-authority-flat-to-pay-off-bank-loan/ (2016-02-16)
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  • Raising capital for part-time landlord with low income | Mortgages for Business
    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 Raising capital for part time landlord with low income 19 01 15 Buy to let Mortgages Case Study Our client a director of his own company was keen to expand his buy to let portfolio but needed to refinance his only rental property in order to do so The property in question was an unencumbered 2 bed mid terrace house in Manchester In good condition the house was already to let to tenants for 595 pcm Although the client is a director of his own business he has a relatively small declared taxable income so we needed to find a lender that doesn t have any minimum income restrictions most lenders insist upon a minimum of 25k pa in addition to the rent The client was also keen not to pay excessive fees Fortunately we have access to a lender who doesn t impose any minimum income restrictions and accepts part time landlords as long as they can prove they have held one buy to let property for more than six months This lender was also offering mortgages with lower than average arrangement fees current average is 1 346 The remortgage went through without a hitch Using the funds raised as deposits we then helped the client finance his next two buy to let purchases Full details of the case Purchase price 150 000 Loan amount 112 500 LTV 75 Rental income

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/raising-capital-for-part-time-landlord-with-low-income/ (2016-02-16)
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  • Purchase of freehold block of 9 flats above offices and nightclub | Mortgages for Business
    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 Purchase of freehold block of 9 flats above offices and nightclub 14 01 15 Buy to let Mortgages Case Study The client is a City banker who already owns one rental property and was looking to grow his portfolio He had identified a freehold block of nine flats in a popular Cornish town The flats six 1 bed units and three 2 bed units were in good condition all let on ASTs However there was a major sticking point the flats are situated above offices on the ground floor and a weekend nightclub in the basement Because of this most lenders were not interested To resolve this issue I took the proposal to a specialist lender that was willing to assess the scenario The underwriter felt that the property was a good risk and agreed to lend 75 of the purchase price Here are the details of the deal Property value 425 000 Loan amount 318 750 Loan to value 75 Rate Lender s LIBOR 0 75 4 75 Term 10 years interest only Monthly payment 1 461 Month rental income 4 583 Annual yield 12 9 Lender arrangement fee

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/purchase-of-freehold-block-of-9-flats-above-offices-and-nightclub/ (2016-02-16)
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  • Buy to let mortgage with free valuation & no ERCs for flat in Scotland | Mortgages for Business
    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 Buy to let mortgage with free valuation no ERCs for flat in Scotland 12 01 15 Buy to let Mortgages Case Study My clients are a married couple from Scotland who own their own home as well as three rental properties The husband is an NHS consultant and the wife works in education They wanted to expand their portfolio and had identified a 3 bed flat in a converted Victorian villa located in a popular town north of Stirling The couple asked me to find a deal with a free valuation as this feature is quite common in Scotland Also they wanted a rate with no early repayment charges Not all buy to let lenders operate in Scotland so the option were somewhat limited however I found a lender that not only was happy to help but also met the borrowers requirements Here are the details of the deal Property value 176 000 Loan amount 132 000 Loan to value 75 Rate 3 29 term tracker no ERCs free valuation Term 20 years interest only Monthly payment 362 Month rental income 800 Annual yield 7 3 Lender arrangement fee 999 Completion

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/buy-to-let-mortgage-with-free-valuation-no-ercs-for-flat-in-scotland/ (2016-02-16)
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  • Aberdeen flat purchased by limited company | Mortgages for Business
    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 Aberdeen flat purchased by limited company 09 01 15 Buy to let Mortgages Case Study The client runs a successful domestic cleaning business in Aberdeen She also owns her own home and two rental properties which we helped her fun She was looking to expand her portfolio and wanted to use the surplus funds in the business She had found a mid terrace 1 bed tenement flat in ready to let condition in her home town I approached Keystone Buy to Let Mortgages one of the few lenders operating in Scotland that will lend to limited companies Because the client could demonstrate existing experience as a landlord and strong trading accounts Keystone was happy to help Here are the details of the deal Property value 115 000 Loan amount 76 000 Loan to value 66 Rate 5 49 fixed for 3 years Term 10 years interest only Monthly payment 343 Month rental income 700pcm Annual yield 7 Lender arrangement fee 2 75 Completion date January 2015 This is just one example of how I ve helped

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/aberdeen-flat-purchased-by-limited-company/ (2016-02-16)
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