Buy To Let Mortgage Finance
Whether you’re buying a new property to rent out, refurbish and rent or need to switch to a new buy-to-let mortgage product, Strategic Innovative Finance Ltd can help you find the best Buy to Let Mortgage to fit your needs. We can arrange finance for Buy to Let property well into retirement so you don’t have to sell your property to repay the mortgage and help avoid possible Capital Gains Tax issues.
We will 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.
Experience
We have more than 40 years experience in the industry so you can be sure that you’re in safe hands.
Testimonials
Don’t take our word for it, check out what our clients say about us in the Testimonial Section.
Release Equity in your Buy to Let Properties
With this Buy to let multi property product, it can unlock more cash using the same rental figure than most other lenders. It’s available to new or existing customers submitting two or more properties at the same time on one application. Individuals and Companies with single unit residential investment properties are accepted.
Submitting multi property buy to let portfolios on one application.
This is ideal for landlords who want the convenience of managing their portfolio on one mortgage account:
Benefits:
• Application for up to 30 properties.
• One review date on product rate maturity.
• Affordability stress test across the portfolio where a high yielding property can offset a low yielding one.
• One monthly payment and Direct Debit collection and just one account number and annual statement.
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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...
Buy to Let Multi Property Product
The latest deal is a 5 YEAR FIXED at only 3.58% reverting to the Lender’s Managed Rate (variable) minus 1.75% for the remaining term of the loan, currently giving a rate of 2.83% which is a very competitive reversion rate compared to other lenders. STRESS TEST IS ONLY 3.58% instead of some lenders 5.5%. Product details correct as at 14/12/2020 but may be different at time of application.
The deal is available for:- Re-mortgages and has Free Legal Fees, Free Valuation and No Funds Transfer Fee.
They have no minimum income requirement for experienced landlords and no portfolio limits with other lenders.
EXAMPLE RENTAL CALCULATION
DETERMINES THE MAXIMUM LOAN AMOUNT AVAILABLE
Assuming a Landlord who is a Higher Rate Tax Payer with the properties in his personal name.
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, the MINIMUM RENT REQUIRED = £2,359.55 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 a total rental income of £2,359.55 pm and the lender applied a stress test against it to calculate how much the loan would be using 5.5% at 145%, the maximum loan would equate to £355,042 which is £244,958 less than the above £600,000. So if you are looking to release some cash from your buy to let properties where you have seen good appreciation in value, but have been unable to release cash due to restrictions through stress test calculations used by your existing lender, then this might be the answer !
Buy to Let Finance well into retirement for Landlords
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 can arrange Finance for Buy to Let property well into Retirement and have a lender who will lend to age 85 so long as you apply for a mortgage before age 79. Another lender 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 have built up your property portfolio to give you an income in retirement. This would also avoid paying potential 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 to a better interest rate or to unlock cash tied up in them that you could use for other purposes, i.e. deposit towards purchasing more 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 especially if you are a higher tax payer.
Buy to Let property in need of Light Refurbishment
Are you looking to purchase 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 low 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 Buy to Let finance well into Retirement, a better interest rate and hopefully with NO FEES TO PAY to the new lender to set it up!
Property Portfolio Schedule
It is always a good idea to regularly review your current situation concerning your properties and how they are financed. If you would like a free appraisal of your current buy to let mortgages, please download and complete the above form and email this across to us at colin@sifinance.com.