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Wednesday, September 16, 2020

Foundation pulls two-year BTL products

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Average FTB home rises 2.9%

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London rent controls will be a disaster

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Latest UK Property Price Index

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Bucks reintroduces ex-pat BTL

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Tenant has cost £57k - eviction ban

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10th annual Gas Safety Week

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Thursday, September 10, 2020

Londoners on the move

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‘No DSS’ discrimination ruled unlawful

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Should student landlords repurpose property

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What happens to UK house prices?

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Wednesday, September 09, 2020

'No DSS’ tenants is unlawful discrimination

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Tuesday, September 08, 2020

Scotlands Tenant Hardship Loan Fund

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Castle Trust unveils new BTL range

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FTB fund could push out renters

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Friday, September 04, 2020

Green Homes Grant vouchers

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Enforcement action on leasehold mis-selling

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Builders under leasehold investigation

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1 in 7 properties sell within a week

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House purchase lending plummets in Q2

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Tuesday, September 01, 2020

Leaseholder scam - fake cladding inspections

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Government needs to back landlords

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Landlords call for Scottish Govt help

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Why are we punishing landlords?

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Updated Govt guidance on Covid

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Landlords could be hit with 45% CGT

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Thursday, August 27, 2020

Pent-up demand leads to quicker sales

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Coronavirus Rules for Eviction Claims

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Homes selling more quickly: Zoopla

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Property sales go into overdrive

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Monday, August 24, 2020

Should I sell my BTL?

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Accord ups max BTL product transfer

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Tenants need greater legal protection

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Rental markets at risk of collapse

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Bailiffs return to chase pre-Covid debts

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Advice for landlords during lockdown

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Friday, August 21, 2020

Govt u-turn on eviction ban

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Eviction ban - Changes - LATEST

So you thought that things were finally going to get back to normal and that landlords were at long last able to seek possession for their buy-to-let property. ... Think again!

The yoyo government has added another to it's long list of stop start about face manoeuvres.

Eviction ban extended until 20th September

Most landlords were looking forward to having at least the option of being able to start possession proceedings but a last minute change of heart by Ministers has put back the date until 20th September putting added pressure on some landlords who are without rent but are still required to pay for the buy-to-let mortgage.

What both landlords and tenants need is clarity...something sadly missing from most Government announcements in this current environment.

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Eviction ban extended - 'unacceptable' NRLA

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Eviction ban extended by a month

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TSB increases BTL stress rate to 5.5%

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Thursday, August 20, 2020

Concerns over eviction restart

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Airbnb stock market launch back on

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Does BTL still stack up?

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Londons discounted rental areas

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BTL activity rebounds

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Wednesday, August 19, 2020

Dealing with subsidence

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Latest UK House Price Index

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Tuesday, August 18, 2020

Housing market mini-boom

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BTL product choice falls

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Loans to pay off rent arrears for Welsh tenants

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Mayor stokes tenant/landlord tension

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What rights does a tenant have who is unable to move in because the previous tenants refuses to leave?

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Foundation Home Loans cuts rates

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Monday, August 17, 2020

Popular mortgage rates via Property Hawk Mortgages

Every landlord is different and we appreciate that your specific requirements will vary depending on your circumstances. Property Hawk Mortgages specialises in providing buy-to-let mortgage solutions for all scenarios, from straightforward family rental properties to the most complex cases involving multiple lending challenges.

 

Standard buy-to-let:

2 year fixed rates starting from 1.19%

5 year fixed rates starting from 1.62%

 

Ltd Company buy-to-let

2 year fixed rates starting from 2.49%

2 year discounts starting from 2.65%

5 year fixed rates starting from 2.99%

 

HMO buy-to-let

2 year fixed rates starting from 1.22%

5 year fixed rates starting from 1.62%

 

Please note: products available change on a daily basis and will depend on your individual circumstances and lending criteria. 

Property Hawk Mortgages
 is a specialist in the buy-to-let mortgage market. We have a wealth of knowledge and are dedicated to helping UK landlords find the best financial products and services available to them.


Whatever your circumstances, we can help you find the most suitable buy-to-let mortgage rates including:

  • Fixed rates and variable rates
  • Purchases and remortgages
  • Capital raising
  • Gifted deposits
  • Property portfolios
  • Houses in Multiple Occupation
  • Student lets
  • Limited companies
  • Auction finance
  • Expats
  • Older landlords
  • Refurbishment projects
  • New build properties
  • Over-commercial properties
  • Ex-local authority properties
  • Let to Buy
Use our free online mortgage search tool at Property Hawk Mortgages
Call us now on 029 2069 5446

Visit www.propertyhawkbtlmortgages.co.uk 


Shock horror – mortgage holidays bite back

The option of arranging a mortgage holiday on buy-to-let properties during the pandemic was a supportive measure introduced by the government and buy-to-let lenders. The possibility of deferring up to 6 months’ payments was meant to help landlords if their tenants were struggling to pay rent due to the impact of Covid-19.

L
andlords were reassured that arranging a mortgage holiday would not negatively affect their credit score, leading most to believe that it would not impact on their ability to obtain further finance on their buy-to-let investments. 

However, many landlords have since found out that taking out a mortgage holiday has made getting a new buy-to-let mortgage more difficult. Jane Simpson at Property Hawk Mortgages says:
 

Although applying for a mortgage holiday will not affect a customer’s credit file, lenders may reasonably ask why it was needed. As they assess the risk of lending to an applicant, lenders will want reassurance that there aren’t any existing financial issues with the property, portfolio or business in question.


Lenders may not take such a lenient view of applicants who have applied for a buy-to-let mortgage holiday during the crisis as this could be interpreted as demonstrating underlying cash flow issues with management of the property.
This may make it more complicated for those who have taken a mortgage holiday when they seek further finance.”

 

This seems a harsh state of affairs for landlords who applied for a mortgage holiday in good faith to protect their buy-to-let investments and under the impression that it would not harm their business.

 

To discuss your options with a buy-to-let mortgage expert, please call our support team and we will be happy to help you.

 

CALL NOW ON 029 2069 5446


Property Hawk Mortgages is here to help you make sense of all your buy-to-let mortgage options and to offer our experience and expertise to support you in finding the right product to meet your needs.

Use our free online mortgage search tool at Property Hawk Mortgages
Call us now on 029 2069 5446

Visit www.propertyhawkbtlmortgages.co.uk 

Property Hawk Mortgages has launched its new website

We are excited to announce the launch of our new mortgages website at www.propertyhawkbtlmortgages.co.uk with lots of useful features to help you find the perfect buy-to-let mortgage to suit your individual requirements:

 ·        Free online Mortgage Finder - access the whole of the market to find the right mortgage for you and use our online rental calculator to see which products fit your expected rental income. Register online to start your mortgage search today

 ·        Online application form- we have created a new online application form which is designed to make your life easier by simplifying the application process and saving you time. Register online to apply directly via our buy-to-let Mortgage Finder.

·        Latest news and articles - learn about the latest trends in the buy-to-let mortgage market and get tips on how to find the most competitive financial solutions.

·        Easy navigation- the new look website has a modern design and user-friendly layout to help you find the information you are looking for.

Visit new website


As a buy-to-let investor, you will know that finding the right mortgage can sometimes be a complex process and that securing the best buy-to-let mortgage rate for your particular circumstances may save you thousands of pounds over the period of the loan.

It’s an important decision for any landlord, but the buy-to-let market can be a bewildering place with literally hundreds of different rates to choose from. So how do you know which product to select?

Property Hawk Mortgages is here to help you make sense of all your buy-to-let mortgage options and to offer our experience and expertise to support you in finding the right product to meet your needs.

Use our free online mortgage search tool at Property Hawk Mortgages
Call us now on 029 2069 5446

Thursday, August 13, 2020

Recession not spooking agents ...yet

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Housing Outlook - Resolution Foundation

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Less than 5% of tenants in arrears

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Latest Land Registry price data

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Monday, August 10, 2020

KF Market Outlook - August

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The end of low rate mortgages?

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Landlords turn to staycation holiday lets

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Managing rent arrears -video guide

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Latest DPS Rent Index

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House prices hit record high

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Holiday lets - tips for finance

Holiday let investments
Holiday lets have become a popular choice for landlord clients in recent years. A rising increase in Brits holidaying at home in the UK has generated the rental demand and increased mortgage options are now available for those looking for a unique investment opportunity. 
Sourcing holiday let mortgages is slightly different from regular buy-to-let and there are certain points to check with your clients at the outset:

  • Location – most lenders will expect the property to be in a prime holiday destination for example Cornwall, Devon and Brighton.
  • Rental coverage – some lenders will need a local Holiday Letting Agent letter to confirm anticipated rent in low, medium and high season. An average of these will then be used in the calculation.
  • AirBnB – TBMC works with a number of lenders that offer finance on holiday let advertised and run as a AirBnB. Further location restrictions may apply to these properties and those using elements of ‘serviced accomodation’, which is common amongst AirBnBs, should also be checked with the potential lender.

  • Parks and covenants – some holiday let properties have restrictions on how they can be used and let too which may affect the number of lenders to choose from.

This is an area of buy-to-let finance that seems to be gaining interest, with several specialist lenders recently extending their propositions to include options for holiday lets.
Property Hawk Mortgages is a specialist in the buy-to-let mortgage market. We have a wealth of knowledge and are dedicated to helping UK landlords find the best financial products and services available to them.
Use our free online mortgage search tool at Property Hawk Mortgages
Please let us know how we can support you, we are here to help.
Call us now on 029 2069 5446

Friday, July 31, 2020

Landlords raise rents as tenant numbers grow

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House prices bounced back in July

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Tuesday, July 28, 2020

Stamp duty cut only benefited London

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Longer Notice Periods in Wales

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Coronavirus Rules for Eviction Claims

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New Stamp Duty Guide - ARLA

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Monday, July 27, 2020

Eviction notices during lockdown

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New permitted development rights

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Residential Market Outlook: KF

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Updated coronavirus guidance for landlords and tenants

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Welsh landlords need 6 months notice

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End to possession proceedings pause

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Would you use a £99 estate agent?

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ARLA - landlord taxation webinar

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Growing popularity for limited company buy-to-let

At Property Hawk Mortgages we have seen a rise in the number of limited company buy-to-let applications being submitted. So far in 2020, over 30 per cent of new mortgages each month have been in the name of a Special Purpose Vehicle (SPV) or trading company.
Popular mortgages for limited company buy-to-let (correct at date of publishing)
For standard properties:
Lender
Initial Rate
Type
Loan-to-value
Lender fee
Incentives
Bath BS
2.65%
2-year discount  
70%
£1195

Paragon
2.95
2-year fixed
70%
1%
Free valuation
TMW
3.09%
5-year fixed
75%
£1995
Free valuation
Foundation Home Loans
3.24%
5 year fixed
75%
2%


For HMOs and multi-unit blocks:
Lender
Initial eate
Type
Loan-to-value
Lender fee
Incentives
Paragon
3.05%
2-year fixed   
70%
1%
Free valuation
The Mortgage Lender
3.38%
2-year fixed    
70%
2.5%

Masthaven
3.54%
2-year fixed
75%
2%

Zephyr Homeloans
3.99%
5-Year fixed
75%
1.5%


Limited company benefits
This comes as no surprise as there are several benefits to using a corporate structure for running a buy-to-let property business. Many landlords opt to use an SPV as it can be financially advantageous and tax efficient. Since the government announced the phasing out of mortgage interest tax relief by 2020, there are now more reasons to consider the limited company route to reduce tax liabilities.
In terms of buy-to-let mortgage options, limited company products can also provide advantages to landlords as the PRA regulations relating to rent stress tests for personal applications are not applicable (a rent stress test is the calculation that lenders use to determine how much they will lend to you).
It means that the rental calculations can be more achievable for SPVs – typically at 125 per cent at 5 per cent or at the pay rate for 5-year fixed rates – which may allow applicants to borrow more through a limited company.
Wide choice of mortgages
There is growing competition among lenders for limited company buy-to-let – we currently have around 30 different lenders on our panel - which means that there are some keenly priced rates available. Historically, limited company mortgages were considerably more expensive than personal name rates, but the gap is closing with some lenders now offering the same rates for both applicant types.
Setting up an SPV is a simple, cheap process which can be completed online within 24 hours via Companies House. Most lenders will lend to newly established SPVs providing they are set up for the sole purpose of letting and managing property. For this reason, it is important that the limited company is registered with the correct SIC code – normally 68100, 68209, 68320 or 68201.
Stamp Duty costs
For existing landlords who are considering transferring their properties to an SPV it is recommended that you seek professional tax advice before proceeding. Moving properties from a personal name to a corporate entity involves a sale and purchase transaction which means that Stamp Duty Land Tax and Capital Gains Tax is payable.
Stamp Duty costs may be a deterrent to large portfolio landlords, but there are circumstances where incorporation relief may be granted by the Inland Revenue if it can be demonstrated that the portfolio is run as a business partnership – again tax advice is recommended in this scenario.
We expect the proportion of buy-to-let mortgages arranged via a limited company will continue to grow over the next 12 months as landlords realise the financial ramifications of the changes to mortgage interest tax relief now that it has been completed phased out.


Property Hawk Mortgages is a specialist in the buy-to-let mortgage market. We have a wealth of knowledge and are dedicated to helping UK landlords find the best financial products and services available to them.

Use our free online mortgage search tool at Property Hawk Mortgages
Call us now on 029 2069 5446
Visit www.propertyhawkbtlmortgages.co.uk