Buy To Let
Whether you’re buying a new property to let, or refurbish and let or need to switch to a new buy-to-let deal, Strategic Innovative Finance Ltd can help you find the best mortgage to fit your needs and endeavour to make sure it completes on time, making the whole process a lot less stressful.
The buy-to-let mortgage market is a complex one so you need an adviser that knows their stuff – we’ve more than 30 years experience in the industry so you can be sure that you’re in safe hands.
Investing in a buy-to-let is a big decision. But it needn’t be a hard one. Research the local area to find out about rental demand and make sure you invest in the right location...
Release Equity in your Buy to Let Properties with this Buy to let multi property deal which can unlock more capital using the same rental figure than other lenders.
Available to new or existing customers submitting two or more properties at the same time on one application. Individuals and Companies with single residential investment properties are accepted.
Submitting multi property buy to let portfolios on one application is ideal for landlords who want the convenience of managing their portfolio on one mortgage account:
• One application for up to 16 properties.
• One review date on product rate maturity.
• One affordability stress test across the portfolio, a high yielding property can offset a low yielding.
• One monthly payment and Direct Debit collection.
• One account number and annual statement.
The new deal is a 5 YEAR FIXED at only 3.88% reverting to the Libor Rate (variable) plus 2.68% for the remaining term of the loan, currently giving a payrate of 2.98%, which is a very competitive reversion rate compared to other lenders. STRESS TEST IS ONLY 3.88% instead of some lenders 5.5%. Product details correct as at 20/5/2020 but may be different now.
The deal is available for:- Re-mortgages and has Free Legal Fees, Free Valuation and NO Product Fee.
They have no minimum income for experienced landlords and no portfolio limits with other lenders.
Property values £800,000, Current Loans £400,000, Capital raising £200,000, new loan £600,000 at 75% LTV OVER 5 YEARS.
WITH THIS LENDER MINIMUM RENT REQUIRED = £2,204.55 pm
Comparing this to some other lenders that use 5.5% in their stress test rental calculation, you would need a Rent of £3,987.50 pm.
Put another way, if you had total rental income of £2,204.55 pm and the lender applied a stress test against this rent to calculate how much the loan could be at 5.5% at 125%, the maximum loan would be £384,794 which is £215,206 less of a loan than above and therefore the capital raised would be minus £15,206 instead of plus £200,000.
So if you are looking to release some of the equity from your buy to let properties where you have seen some good appreciation in value, but have been unable to release this equity due to restrictions on the stress test calculations used by your existing lender, then this might be the answer!
Buy to Let mortgages for Landlords in retirement
Are you a landlord getting near the end of your Buy to Let mortgage term and the current lender won’t allow you to extend the term. We have a lender who will lend to age 85 so long as you apply for a mortgage before age 79 or another who will allow a 35 year term if you start before age 80. This would take away the worry of having to pay back the mortgage normally around age 75 especially when you had built up your property portfolio to give you an income in retirement. This would also avoid paying capital gains tax as you would not be forced into selling your properties in order to pay back the mortgages.
Multi Unit Buy to Let Property
Are you looking for finance for a buy to let property split into self contained flats on one title.
HMO, Houses of Multiple Occupancy Buy to Lets
Finance for a property rented to multiple tenants or that requires a HMO Licence.
Ltd Company Buy to Let Property
Are you looking to buy property in a Ltd Company name or remortgage your existing properties.
This may assist you in countering the affects of the new tax laws concerning mortgage interest that came in to force in April 2017.
Buy to Let property in need of Light Refurbishment
Are you looking to buy a buy to let property that is in need of light refurbishment but can’t obtain finance due to it’s current condition.
Are your Buy to Let Mortgages coming to the end of the current lower interest rate and will revert to the lender’s Variable Rate which is far higher?
We can look to either transfer the mortgage to a better interest rate with your current lender or re-mortgage to a new lender which offers a better interest rate and hopefully with NO FEES TO PAY to the new lender to set it up!