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  • Refinance of refurbished ex-LA flat within 6 months of purchase | Mortgages for Business
    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 Refinance of refurbished ex LA flat within 6 months of purchase 06 01 15 Buy to let Mortgages Case Study The client is an experienced full time property investor who owns eight rental properties He approached me for help in refinancing a South London flat he had just finished refurbishing The flat had been purchased with a bridging loan and the investor s original intention had been to sell the flat once the refurbishment was complete However when the anticipated sale price was not achieved he decided to rent it out so need a buy to let mortgage to pay off the bridging loan This was a challenge because most lenders will not allow refinancing within 6 months of purchase An added complication to this was the fact that the flat was ex Local Authority in a 5 storey block with balcony access which again limited the choice of lenders We approached one of the new peer to peer lenders that was happy to consider the application Because the investor was experienced and the flat was expected to generate a healthy rental income the lender was happy to assist with a loan that not only paid off the bridging finance but also provided an extra 30k to put towards another refurbishment project Here are the details of the deal Property value 360 000 Loan amount

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/refinance-of-refurbished-ex-la-flat-within-6-months-of-purchase/ (2016-02-16)
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  • Capital raising for landlord with low income | Mortgages for Business
    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 Capital raising for landlord with low income 04 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 Here are the details of the deal Property price 150 000

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/capital-raising-for-landlord-with-low-income/ (2016-02-16)
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  • Remortgage for HMO within 6 months of purchase | Mortgages for Business
    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 Remortgage for HMO within 6 months of purchase 10 11 14 Buy to let Mortgages Case Study The client is a motor trader who had also built up a small portfolio of rental properties He was looking to run down the motor business so that he could concentrate on expanding his portfolio further His modus operandi was to purchase a property for cash refurbish it let it out then raise finance against it to start the next project all in the space of just a few months In particular our client favours large Victorian two storey houses that lend themselves to becoming 5 6 bed multi lets but which do not require either planning permission or an HMO licence For most lenders refinancing within six months of purchase is not acceptable however there are a couple of lenders that can help We approached Keystone Buy to Let Mortgages which not only accepts these transactions but will lend up to 75 of the enhanced value as soon as the property is ready to let as long as the loan is not more than 90 of the purchase price plus refurbishment costs Here are the details of the landlord s latest property refinance Purchase price 103 000 Refurbishment costs 45 000 Property re valued at 170 000 Loan

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/remortgage-for-hmo-within-6-months-of-purchase/ (2016-02-16)
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  • Raising capital without forfeiting an existing low rate buy to let mortgage | Mortgages for Business
    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 without forfeiting an existing low rate buy to let mortgage 06 11 14 Buy to let Mortgages Case Study My client is an experienced self employed landlord looking to expand his existing portfolio in his sole name by releasing equity in one of his rental properties The property he chose was a semi detached house rented to a family on an AST at 628pcm Valued at 140k the property already had a mortgage on it of 91k 65 LTV at a rate of 0 99 Understandably the client was reluctant to refinance away from this great rate so we suggested a buy to let equity loan which would allow him to raise 28k 20 LTV and take his total borrowing up to 85 LTV The new lender took a second charge to sit behind the existing mortgage Crucially with this type of borrowing there are no monthly repayments Instead the original loan amount is repaid along with a share of any increase in the value of the property during the life of the loan subject to a minimum repayment of 2 per annum simple interest This suited the client as it did not affect his cash flow Here are the details of the deal Property Value 140 000 Rental income pcm 628 pcm Existing Mortgage 91 000 Existing rate and term Bank Rate 0 99 currently 1 49 12 years remaining

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/raising-capital-without-forfeiting-an-existing-low-rate-buy-to-let-mortgage/ (2016-02-16)
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  • Raising capital on a low yielding house | Mortgages for Business
    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 Raising capital on a low yielding house 03 11 14 Buy to let Mortgages Case Study An experienced landlord who owns residential investment property in West London encountered difficulty in raising capital with conventional lenders because the rental income yield on her property was too low to meet their lending criteria Our solution was to recommend and arrange an equity release second charge mortgage through a specialist lender This was appropriate as there is no rental income assessment needed on the capital raised and no monthly interest repayments are required The loan is scheduled to be repaid in 10 years time as a single lump sum plus a share to the lender of any future growth in the property value The capital raised has enabled the investor to put down a deposit on a further buy to let property Here are the details of the deal Property Value 1 500 000 Loan amount 150 000 Loan to Value 10 Rate 20 share of any increase in the value of the house Term 10 years Arrangement fee 2 0 Completion date October 2014 This is just

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/raising-capital-on-a-low-yielding-house/ (2016-02-16)
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  • 6-bed HMO purchase by SPV limited company | 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 6 bed HMO purchase by SPV limited company 21 10 14 Buy to let Mortgages Case Study Our client is an experienced Cardiff based landlord who also works full time as a systems engineer He was looking to expand his portfolio and wanted to make the acquisition using his SPV limited company which already owns one other rental property In particular the client wanted to buy an HMO because of their higher yield potential and fortunately Cardiff has a good stock of HMOs due to the high number of working professionals and students living in the city Mainstream buy to let lenders will not lend to SPVs on HMOs so we approached a specialist lender that was happy to help finance the 6 bed HMO the client had chosen Here are the details of the deal Portfolio amount 404 000 Loan amount 303 000 LTV 75 Rental income pcm 3 370 Rate 5 49 fixed for 5 years Term 25 years interest only Arrangement fee 2 Completion date Est end of Ocotber 2014 This is just one example of

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/6-bed-hmo-purchase-by-spv-limited-company/ (2016-02-16)
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  • Buy to let mortgage for ex-council flat in South East London | Mortgages for Business
    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 for ex council flat in South East London 24 09 14 Buy to let Mortgages Case Study My clients are a couple who own two rental properties and have day jobs too Their original broker struggled to find a lender to refinance their ex local authority flat because the block was only 40 privately owned most lenders like circa 75 to be owned privately In addition to this problem access to the flat was via a deck something else most buy to let lender s don t like I managed to find a lender that was happy to help and was also able to offer a very good rate to boot which included a free valuation and free legal service The funds raised through refinancing will be used by my clients as a deposit to purchase another buy to let property Here are the details of the deal Property value 250 000 Loan amount 187 500 Loan to value 75 Rental income pcm 1 100 pcm on AST Rate 2 year fixed 2 99 plus free valuation and legals Term 20 years interest only Arrangement fee 1 995

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/buy-to-let-mortgage-for-ex-council-flat-in-south-east-london/ (2016-02-16)
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  • 2 flats remortgaged to raise finance for Ltd Co looking to expand portfolio | Mortgages for Business
    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 2 flats remortgaged to raise finance for Ltd Co looking to expand portfolio 08 08 14 Buy to let Mortgages Case Study We were approached by a broker whose clients were two brothers both joint directors of a SPV limited company owning over 20 rental properties One of the brothers is a full time landlord with over 100 properties in his personal portfolio The other an auctioneer with six properties in his personal portfolio To expand their joint portfolio the brothers were hoping to raise finance against two unencumbered leasehold two bed flats The flats are located east of the capital in a popular commuter town but in separate blocks Under the circumstances most buy to let lenders are not suited due to the size of the portfolio and as one brother lives with relatives not owning his own home Thankfully Keystone Buy to Let Mortgages doesn t impose a size limit on portfolios so was able to take on the case The lending criteria does insist applicants own their own home however as the applicant demonstrated his vast experience being a landlord the case was accepted To protect against future rate hikes the directors chose five year fixed rates Property 1 Value 135 000 Rent 675 pcm Loan 65 000 LTV 48 LTV Rate 5 74 5 year fixed Term 10 years interest only Arrangement fee 2

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/buy-to-let/2-flats-remortgaged-to-raise-finance-for-ltd-co-looking-to-expand-portfolio/ (2016-02-16)
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