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FREE landlord softwareSearch the whole BTL mortgage market freeNatWest to launch products and cut rates - https://t.co/xZa6uPimrV #GoogleAlerts— Property Hawk (@landlordnews) June 28, 2019
Showing posts with label btl morgtage industry. Show all posts
Showing posts with label btl morgtage industry. Show all posts
Saturday, June 29, 2019
Natwest to cut BTL rates
Tuesday, November 15, 2016
42% fall in BTL mortgages
CML Number of buy-to-let mortgages in September was 42.3% lower than a year ago.#ukhousinghttps://t.co/vyUrQdnvn5 pic.twitter.com/wl6eLP6EjN— Noble Francis (@NobleFrancis) November 15, 2016
Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
Your home may be repossessed if you do not keep up repayments on your mortgages.
The Financial Services Authority does not regulate some forms of mortgage.
Monday, May 09, 2016
Middle class BTL dream is over
Middle-class 'buy-to-let dream' is over - as mortgage lenders to demand 40pc deposits https://t.co/QZ0YDSet6s pic.twitter.com/gQQHTGxyzZ— Telegraph News (@TelegraphNews) May 7, 2016
Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
Your home may be repossessed if you do not keep up repayments on your mortgages.
The Financial Services Authority does not regulate some forms of mortgage.
Wednesday, April 13, 2016
BTL surge expected to subside
Take advantage of our discounted landlord insurance ratesSurge in buy-to-let mortgages expected to subside following tax changes, Council of Mortgage Lenders says https://t.co/gYJwnFNQrH
— BBC News (UK) (@BBCNews) April 13, 2016
Tuesday, April 12, 2016
BTL mortgage rates still falling
According to data from Moneyfacts, BTL mortgage rates are continuing to fall.
Moneyfacts say the average rate on a two-year fixed rate BTL mortgage is now at 3.32%, down from 5.21% in 2011.
Rates on Five-year fixed rate BTL mortgages are also lower, now at 4% compared to 6.24% in 2011.
Thursday, April 09, 2015
Statement of Practice for BTL lending
As an attempt to avoid regulation of the BTL Mortgages, the Council of Mortgage Lenders alongside the Intermediary Mortgage Lenders Association and the Association of Mortgage Intermediaries published a new Statement of Practice for buy-to-let mortgages this week.
The CML claim 31 BTL lenders who represent approximately 90% of the BTL mortgage market have adopted the statement of practice and the remaining lenders are expected to do so over the course of 2015.
• The responsibilities of lenders, with a commitment to lend responsibly and treat customers fairly – echoing the broad principles of fair treatment that underpin the statutory regime of mortgage regulation protecting consumers.
• An undertaking to provide information that is fair, clear and not misleading, and in a form broadly consistent with the existing “key facts illustration” and the proposed European standardised information sheet. There should also be clear statements on fees and charges, monthly repayments and an overall cost calculation.
• The need to make a robust assessment of mortgage affordability, allowing for conditions in the rental market, the impact of future rate rises, rental voids and arrears, and other costs. There should also be a commitment to take extra care if the borrower has an impaired credit history and to consider whether it is appropriate to lend in those circumstances.
• The responsibilities of buy-to-let landlords, underlining their obligations to be competent and capable, and to accept that their borrowing is a commercial decision.
• Specific responsibilities of landlords to comply with legal requirements for letting property, treating their tenants fairly, maintaining and insuring the property adequately, and accepting the commitments associated with taking out a mortgage.
CML director general Paul Smee commented:
"Lenders know how important it is to have a transparent mortgage market, in which borrowers can have confidence, and where lending policy is both responsible and clearly understood. The new buy-to-let statement of practice reflects what responsible lenders already do and offers a clear explanation of how buy-to-let lenders operate. We hope it will make a valuable contribution to understanding the buy-to-let lending environment."
The CML claim 31 BTL lenders who represent approximately 90% of the BTL mortgage market have adopted the statement of practice and the remaining lenders are expected to do so over the course of 2015.
The Statement of Practice for BTL mortgage lending
• The responsibilities of lenders, with a commitment to lend responsibly and treat customers fairly – echoing the broad principles of fair treatment that underpin the statutory regime of mortgage regulation protecting consumers.
• An undertaking to provide information that is fair, clear and not misleading, and in a form broadly consistent with the existing “key facts illustration” and the proposed European standardised information sheet. There should also be clear statements on fees and charges, monthly repayments and an overall cost calculation.
• The need to make a robust assessment of mortgage affordability, allowing for conditions in the rental market, the impact of future rate rises, rental voids and arrears, and other costs. There should also be a commitment to take extra care if the borrower has an impaired credit history and to consider whether it is appropriate to lend in those circumstances.
• The responsibilities of buy-to-let landlords, underlining their obligations to be competent and capable, and to accept that their borrowing is a commercial decision.
• Specific responsibilities of landlords to comply with legal requirements for letting property, treating their tenants fairly, maintaining and insuring the property adequately, and accepting the commitments associated with taking out a mortgage.
CML director general Paul Smee commented:
"Lenders know how important it is to have a transparent mortgage market, in which borrowers can have confidence, and where lending policy is both responsible and clearly understood. The new buy-to-let statement of practice reflects what responsible lenders already do and offers a clear explanation of how buy-to-let lenders operate. We hope it will make a valuable contribution to understanding the buy-to-let lending environment."
Tuesday, April 07, 2015
Lender addresses 'ageism' in lending
Claims of a rush into buy-to-let 'overblown'
I personally think that claims of rush of newly retired pensioners buy-to-let are much overblown. A small number no doubt will consider it. The reality is that if you are retired, do you really want the hassle of a whole load of extra maintenance responsibilities and tenants to look after. Probably not. However, for the brave there is good news in the shape of a new buy-to-let mortgage from The Mortgage Works that will allow lenders up to the age of 70 a 35 year mortgage meaning that in theory you could be over a 100 years old before the loan is repaid. Previously most mortgage companies would not lend where repayment of the capital sum extended beyond a landlords pensionable age say 65.
The Mortgage Works addresses 'ageism' in lending
This more flexible approach from The Mortgage Works who are part of the Nationwide Building Society is to be welcomed for older landlords who often have the time and life skills to make very good and attentive landlords. Whether they have the enthusiasm and drive to take on the extra responsibility when most people are winding down is yet to be seen.
BTL Mortgage Search - whole of market - expert advice
Wednesday, March 04, 2015
BTL lending will break £30bn
Leading buy-to-let experts predict mortgage lending will go beyond £30bn this year and the private rental sector will account for 25% of all residential properties by 2020.
Buy to let lending has grown from £15.7bn in 2012 to £20.7bn in 2013 and jumped to £27.4bn last year. It is predicted to surge past £30bn in 2015 despite the uncertainties of the sector due to the general election.
Speaking at the Great Buy-to-let Debate in London David Whittaker from Mortgages For Business commented: “I think we’ll end up seeing around £31bn in lending to landlords this year, which would be about 12 per cent growth from where we were in 2014. I think that is a sensible figure to chase, let’s achieve it and not go mad. Ten to 12 per cent growth indicates a stable market.”
The buy-to-let panel consensus was that the private rented sector will account for one in four properties by 2020 up from 19.4% at current levels.
Mortgage Search - expert broker - free advice
Buy to let lending has grown from £15.7bn in 2012 to £20.7bn in 2013 and jumped to £27.4bn last year. It is predicted to surge past £30bn in 2015 despite the uncertainties of the sector due to the general election.
Speaking at the Great Buy-to-let Debate in London David Whittaker from Mortgages For Business commented: “I think we’ll end up seeing around £31bn in lending to landlords this year, which would be about 12 per cent growth from where we were in 2014. I think that is a sensible figure to chase, let’s achieve it and not go mad. Ten to 12 per cent growth indicates a stable market.”
The buy-to-let panel consensus was that the private rented sector will account for one in four properties by 2020 up from 19.4% at current levels.
Mortgage Search - expert broker - free advice
Thursday, January 06, 2011
BTL mortgages - most popular
| Interest Rate | Overall Cost for Comparison | Max LTV | Product Detail | Completion Fee | Early Repayment Charges |
| 3.88% Tracker | 4.1% APR | 75% | Variable tracker rate of BBR + 3.38% for the lifetime of the loan. This product is available up to 75% LTV and there is a rental calculation of 100% at a notional rate of 8.5%. An application fee will apply. Available on a repayment basis only. The completion fee is payable at offer stage. Refer all cases for fees, maximum LTV and loan amounts. | 0% | 1% of original balance being repaid for 1 year |
| 4.15% Fixed | 5.3% APR | 75% | Fixed rate of 4.15% for 1 year then reverting to the lender's standard variable rate of 4.60% to the end of year 5, then for the remainder of the term, the lender's standard variable rate of 4.60% + 0.50% . This product is available up to 75% LTV and there is a rental calculation of 130% at a notional rate of 6%. An application fee will apply. | 3% | 5% of amount being repaid for 1 year |
| 4.25% Tracker | 4.8% APR | 65% | Variable tracker rate of BBR + 3.75% until 31/03/2013 then reverting to the lender's standard variable rate which is currently 4.74% for the remainder of the term. Free valuation up to £680 for purchases and remortgages and free legals on remortgages only. This product is available up to 65% LTV and the rental calculation is 125% at payrate. There is a booking fee of £250 and an application fee will apply. | 0% | 4% of amount being repaid until 31/03/2013 |
| 4.5% Tracker | 5.1% APR | 75% | Variable tracker rate of BBR + 4.00% for 2 years then reverting to a variable rate of BBR + 4.24% for the remainder of the term. This product is available up to 75% LTV and the rental calculation is 125% at payrate. An application fee will apply. | 2% | 3% of amount being repaid for 2 years |
| 4.69% Fixed | 5.2% APR | 60% | Fixed rate of 4.69% until 31/12/2012 then reverting to the lender's standard variable rate (SVR) which is currently 4.99% for the remainder of the term.This product is available up to 60% LTV and the rental calculation is 125% at 4.99% (SVR). An application fee will apply. Free legal fees for remortgages. | £999 | 4% of original balance being repaid until 31/12/2012 |
| 4.79% Fixed | 4.8% APR | 70% | Fixed rate of 4.79% until 31/01/2012 then reverting to a variable rate of BBR + 3.99% to give a current rate of 4.49% for the remainder of the term. This product is available up to 70% LTV and there is a rental calculation of 125% at the reversionary rate. An application fee will apply. | £2495 | 2% of the amount being repaid until 31/01/2012. |
| 4.8% Fixed | 5.2% APR | 75% | Fixed rate of 4.80% until 01/02/2013 then reverting to a variable of BBR + 4.24% to give a current rate of 4.74% for the remainder of the term. The product is available up to 75% LTV and the rental calculation is 125% at the payrate. An application fee will apply. | 2.5% | 3% of amount being repaid until 01/02/2013 |
| 4.8% Tracker | 5.6% APR | 75% | Variable tracker rate of LIBOR + 4.00% for 2 years then reverting to the lender's standard variable rate of 4.60% + 0.25% = 4.85% to the end of year 5, then for the remainder of the term, the lender's standard variable rate of 4.60% + 0.75% = 5.35%. The product is available up to 75% LTV and the rental calculation is 130% at a notional rate of 7%. Please note that the completion fee will increase by 0.25% on applications for HMOs, freehold houses split into flats and limited companies. An application fee will apply. | 2.25% | 3% of amount being repaid for 2 years |
| 4.99% Fixed | 5.5% APR | 80% | Fixed rate of 4.99% until 29/02/2012 then reverting to the lender's standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 80% LTV and there is a rental calculation of 125% at payrate. An application fee will apply. | 3% (min £595) | 5% of amount being repaid until 29/02/2012 |
| 5.59% Fixed | 5.2% APR | 70% | 5.59% fixed rate until 01/02/2013 then reverting to the lender's standard variable rate which is currently 4.79% for the remainder of the term. This product is available up to 70% LTV and the rental calculation is 120% at payrate. An application fee will apply. | £1995 | 4% of the outstanding balance as of 1st January until 01/02/2013 |
IMPORTANT! Due to current market conditions, lenders are withdrawing and replacing products with little or no notice.
Please check our website regularly to see the most up-to-date products available.
Please visit www.propertyhawk.co.uk/mortgages.aspx to search the full product range and find a buy-to-let mortgage to suit your specific personal circumstances.
Email: info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
Your home may be repossessed if you do not keep up repayments on your mortgages. The Financial Services Authority does not regulate some forms of mortgage.
Wednesday, November 17, 2010
BTL mortgages - most popular
Most popular buy-to-let mortgages
| Interest Rate | Overall Cost for Comparison | Max LTV | Product Detail | Completion Fee | Early Repayment Charges |
| 3.64% Tracker | 5.2% APR | 60% | Variable tracker rate of BBR + 3.14% until 31/12/2012 then reverting to the lender's standard variable rate (SVR) which is currently 4.99% for the remainder of the term. This product is available up to 60% LTV and the rental calculation is 125% at 4.99% (SVR). An application fee will apply. | 2.5% | 4% of original balance being repaid until 31/12/2012 |
| 3.75% Tracker | 4.7% APR | 60% | Variable tracker rate of BBR + 3.25% for 2 years then reverting to a variable of BBR + 4.24% to give a current rate of 4.74% for the remainder of the term. The product is available up to 60% LTV and the rental calculation is 125% at the payrate. An application fee will apply. | 1.5% | 3% of amount being repaid for 2 years |
| 3.88% Tracker | 4.1% APR | 75% | Variable tracker rate of BBR + 3.38% for the lifetime of the loan. This product is available up to 75% LTV and there is a rental calculation of 100% at a notional rate of 8.5%. An application fee will apply. Available on a repayment basis only and for loans up to £150,000. The completion fee is payable at offer stage. | £1695 | 1% of original balance being repaid for 1 year |
| 4.8% Fixed | 5.2% APR | 75% | Fixed rate of 4.80% until 01/02/2013 then reverting to a variable of BBR + 4.24% to give a current rate of 4.74% for the remainder of the term. The product is available up to 75% LTV and the rental calculation is 125% at the payrate. An application fee will apply. | 2% | 3% of amount being repaid until 01/02/2013 |
| 4.8% Tracker | 5.5% APR | 75% | Variable tracker rate of LIBOR + 4.00% for 2 years then reverting to the lender's standard variable rate of 4.60% + 0.25% = 4.85% to the end of year 5, then for the remainder of the term, the lender's standard variable rate of 4.60% + 0.75% = 5.35%. The product is available up to 75% LTV and the rental calculation is 130% at 7%. Please note that the completion fee will increase by 0.25% on applications for HMOs, freehold houses split into flats and limited companies. An application fee will apply. | 2.25% | 3% of amount being repaid for 2 years |
| 4.99% Fixed | 4.7% APR | 70% | Limited company product. Fixed rate of 4.99% until 31/12/2012 then reverting to a variable rate of BBR + 3.49% to give a current rate of 3.99% for the remainder of the term. This product is available up to 70% LTV and there is a rental calculation of 125% at the payrate. An application fee will apply. | 3.5% (min £595) | 5% of amount being repaid until 31/12/2012 |
| 4.99% Fixed | 5.5% APR | 80% | Fixed rate of 4.99% until 31/12/2011 then reverting to the lender's standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 80% LTV and there is a rental calculation of 125% at payrate. An application fee will apply. | 3% (min £595) | 5% of amount being repaid until 31/12/2011 |
| 5.19% Fixed | 5.3% APR | 70% | Fixed rate of 5.19% until 31/01/2013 then reverting to a variable rate of BBR + 4.50% to give a current rate of 5.00% for the remainder of the term. This product is available up to 70% LTV and the rental calculation is 125% at a notional rate of BBR + 4.50%. An application fee will apply. | £1995 | 3% of the amount being repaid until 31/01/2012, then 2% of the amount being repaid until 31/01/2013 |
| 5.29% Fixed | 3.7% APR | 60% | Fixed rate of 5.29% until 02/03/2013 then reverting to a variable rate of 2.49% over BBR to give a current rate of 2.99% for the remainder of the term. This product is available up to 60% LTV and there is a rental calculation of 125% at payrate. An application fee will apply. | 1.5% (min £1500) | 6 months interest at the Buy to Let Standard Variable Rate or fixed rate whichever is higher until 02/03/13 |
| 5.49% Fixed | 5.7% APR | 80% | Fixed rate of 5.49% until 31/12/2013 then reverting to the lender's standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 80% LTV and there is a rental calculation of 125% at the pay rate. An application fee will apply. | 3% (min £595) | 5% of amount being repaid until 31/12/2013 |
IMPORTANT! Due to current market conditions, lenders are withdrawing and replacing products with little or no notice.
Please check our website regularly to see the most up-to-date products available.
Please visit www.propertyhawk.co.uk and click on Mortgages to search the full product range and find a buy-to-let mortgage to suit your specific personal circumstances.
Email: info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
Your home may be repossessed if you do not keep up repayments on your mortgages. The Financial Services Authority does not regulate some forms of mortgage.
Tuesday, November 09, 2010
BTL sees positive outlook
A positive outlook for BTL property investment is argued over at this MSN article.Listing the contributing factors for the upbeat future as-
- Slumping sales prices
- Increasing rents
- Increasing tenant demand
- Restricted growth in supply of rental property.
Only time or the tea leaves will tell .....
Free property management software, Free tenancy agreements
Tuesday, November 02, 2010
BTL mortgages - most popular
| Interest Rate | Overall Cost for Comparison | Max LTV | Product Detail | Completion Fee | Early Repayment Charges |
| 3.75% Tracker | 4.7% APR | 75% | Variable tracker rate of BBR + 3.25% for 2 years then reverting to a variable rate of BBR + 4.24% to give a current rate of 4.74% for the remainder of the term. This product is available up to 75% LTV and the rental calculation is 125% at the payrate. An application fee will apply. | 0.5% | 3% of amount being repaid for 2 years |
| 3.75% Tracker | 4.7% APR | 65% | Variable tracker rate of BBR + 3.25% until 31/12/2012 then reverting to the lender's standard variable rate which is currently 4.74% for the remainder of the term. There is a free valuation up to £680 for purchases and remortgages and free legals for remortgages only. This product is available up to 65% LTV and the rental calculation is 125% at payrate. There is a £250 booking fee and an application fee will apply. | 0% | 4% of amount being repaid until 31/12/2012 |
| 3.88% Tracker | 4.1% APR | 75% | Variable tracker rate of BBR + 3.38% for the lifetime of the loan. This product is available up to 75% LTV and there is a rental calculation of 100% at a notional rate of 8.5%. An application fee will apply. Available on a repayment basis only and for loans up to £150,000. The completion fee is payable at offer stage. | £1695 | 1% of original balance being repaid for 1 year |
| 4.6% Tracker | 5.2% APR | 75% | Variable tracker rate of BBR + 4.10% for 2 years then reverting to a variable rate of BBR + 4.24% for the remainder of the term. This product is available up to 75% LTV and the rental calculation is 125% at payrate. An application fee will apply. | 2.75% | 3% of amount being repaid for 2 years |
| 4.8% Tracker | 5.5% APR | 75% | Variable tracker rate of LIBOR + 4.00% for 2 years then reverting to the lender's standard variable rate of 4.60% + 0.25% = 4.85% to the end of year 5, then for the remainder of the term, the lender's standard variable rate of 4.60% + 0.75% = 5.35%. The product is available up to 75% LTV and the rental calculation is 130% at 7%. Please note that the completion fee will increase by 0.25% on applications for HMOs, freehold houses split into flats and limited companies. An application fee will apply. | 2.25% | 3% of amount being repaid for 2 years |
| 4.99% Fixed | 5.5% APR | 80% | Fixed rate of 4.99% until 31/12/2011 then reverting to the lender's standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 80% LTV and there is a rental calculation of 125% at payrate. An application fee will apply. | 3% (min £595) | 5% of amount being repaid until 31/12/2011 |
| 4.99% Fixed | 4.7% APR | 70% | Limited company product. Fixed rate of 4.99% until 31/12/2012 then reverting to a variable rate of BBR + 3.49% to give a current rate of 3.99% for the remainder of the term. This product is available up to 70% LTV and there is a rental calculation of 125% at the payrate. An application fee will apply. | 3.5% (min £595) | 5% of amount being repaid until 31/12/2012 |
| 5.29% Fixed | 3.7% APR | 60% | Fixed rate of 5.29% until 02/12/2012 then reverting to a variable rate of 2.49% over BBR to give a current rate of 2.99% for the remainder of the term. This product is available up to 60% LTV and there is a rental calculation of 125% at payrate. An application fee will apply. | 1.5% (min £1500) | 6 months interest at the Buy to Let Standard Variable Rate or fixed rate whichever is higher until 02/12/12 |
| 5.49% Fixed | 5.7% APR | 80% | Fixed rate of 5.49% until 31/12/2013 then reverting to the lender's standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 80% LTV and there is a rental calculation of 125% at the pay rate. An application fee will apply. | 3% (min £595) | 5% of amount being repaid until 31/12/2013 |
| 5.59% Fixed | 5.2% APR | 70% | 5.59% fixed rate until 01/12/2012 then reverting to the lender's standard variable rate which is currently 4.79% for the remainder of the term. This product is available up to 70% LTV and the rental calculation is 120% at payrate. An application fee will apply. | £1995 | 4% of the outstanding balance as of 1st January until 01/12/2012 |
IMPORTANT! Due to current market conditions, lenders are withdrawing and replacing products with little or no notice.
Please check our website regularly to see the most up-to-date products available.
Please visit www.propertyhawk.co.uk and click on Mortgages to search the full product range and find a buy-to-let mortgage to suit your specific personal circumstances.
Email: info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
Your home may be repossessed if you do not keep up repayments on your mortgages. The Financial Services Authority does not regulate some forms of mortgage.
Wednesday, September 22, 2010
BTL Mortgages - most popular
Looking for a buy-to-let mortgage? Visit www.propertyhawk.co.uk and save time and money!
Our free online buy-to-let mortgage service aims to provide you with the most competitive buy-to-let mortgages in the market, whilst helping you choose a product to suit your individual requirements. You can use the free buy-to-let mortgage finder to get an instant personalised quote and apply for your mortgage online. There are no broker fees charged for this service so you could save yourself considerable time and money when arranging your next buy-to-let mortgage.
Below is a selection of the most popular buy-to-let mortgages currently available. For full information on these products, and all other buy-to-let mortgage schemes available to you, please visit www.propertyhawk.co.uk and click on Mortgages to use the free online buy-to-let mortgage finder. If you would like to discuss your requirements with a member of the support team please telephone 029 2069 5446.
| Most popular buy-to-let mortgages |
| Interest Rate | Overall Cost for Comparison | Max LTV | Product Detail | Completion Fee | Early Repayment Charges |
| 2.99% Fixed | 5.3% APR | 60% | Fixed rate of 2.99% until 30/11/2011 then reverting to the lender's standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 60% LTV and there is a rental calculation of 125% at a notional rate of 4.99%. An application fee will apply. | 3.5% (min £595) | 5% of amount being repaid until 30/11/2011 |
| 3.64% Tracker | 5.2% APR | 60% | Variable tracker rate of BBR + 3.14% until 30/09/2012 then reverting to the lender's standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 60% LTV and the rental calculation is 125% at a notional rate of 4.99%. An application fee will apply. | 3.5% | 4% of original balance being repaid until 30/09/2012 |
| 3.88% Tracker | 4.1% APR | 75% | Variable tracker rate of BBR + 3.38% for the lifetime of the loan. This product is available up to 75% LTV and there is a rental calculation of 100% at a notional rate of 8.5%. An application fee will apply. Available on a repayment basis only and for loans up to £150,000. The completion fee is payable at offer stage. | £1695 | 1% of original balance being repaid for 1 year |
| 4.35% Tracker | 5.1% APR | 75% | Variable tracker rate of BBR + 3.85% for 1 year then reverting to a variable rate of BBR + 4.19% to give a current rate of 4.69% for the remainder of the term. This product is available up to 75% LTV and the rental calculation is 125% at payrate. An application fee will apply. | 3% | 3% of amount being repaid for 1 year |
| 4.89% Fixed | 5.1% APR | 60% | Fixed rate of 4.89% until 30/09/2012 then reverting to the lender's standard variable rate which is currently 4.74% for the remainder of the term. There is a free valuation up to £680 for purchases and remortgages and free legals for remortgages only. This product is available up to 60% LTV and the rental calculation is 125% at payrate. There is a £250 booking fee and an application fee will apply. | £1499 | 4% of amount being repaid until 30/09/2012 |
| 4.94% Tracker | 4.6% APR | 70% | Limited company product. Variable tracker rate of BBR + 4.44% until 30/11/2011 then reverting to a variable rate of BBR + 3.49% to give a current rate of 3.99% for the remainder of the term. This product is available up to 70% LTV and the rental calculation is 125% at a notional rate of 5.44%. An application fee will apply. | 3.5% (min £595) | 3% of amount being repaid until 30/11/2011 |
| 4.99% Fixed | 5.5% APR | 80% | Fixed rate of 4.99% until 30/11/2011 then reverting to the lender's standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 80% LTV and there is a rental calculation of 125% at payrate. An application fee will apply. | 3% (min £595) | 5% of amount being repaid until 30/11/2011 |
| 5.4% Fixed | 5.3% APR | 75% | Fixed rate of 5.40% until 01/02/2013 reverting to a variable rate of BBR + 4.24% to give a current rate of 4.74% for the remainder of the term. This product is available up to 75% LTV and there is a rental calculation is 125% at payrate. An application fee will apply. | 2.5% | 3% of amount being repaid until 01/02/2013 |
| 5.45% Fixed | 5.7% APR | 75% | Fixed rate of 5.45% until 31/10/2012 then reverting to the lender's standard variable rate which is currently 5.39% for the remainder of the term. There is a refund of valuation (up to £500) and free legals for remortgages. This product is available up to 75% LTV and the rental calculation is 125% at payrate. An application fee will apply. | 1.25% | 2% of amount being repaid until 31/10/2012 |
| 5.49% Fixed | 5.1% APR | 60% | Fixed rate of 5.49% until 01/12/2012 then reverting to the lender’s standard variable rate which is currently 4.79% for the remainder of the term. This product is available up to 60% LTV and the rental calculation is 120% at payrate. An application fee will apply. | £1995 | 4% of the outstanding balance as of 1st January until 01/12/2012 |
IMPORTANT! Due to current market conditions, lenders are withdrawing and replacing products with little or no notice.
Please check our website regularly to see the most up-to-date products available.
Please visit www.propertyhawk.co.uk and click on Mortgages to search the full product range and find a buy-to-let mortgage to suit your specific personal circumstances.
Email: info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
Your home may be repossessed if you do not keep up repayments on your mortgages. The Financial Services Authority does not regulate some forms of mortgage.
Tuesday, August 24, 2010
'Get rich quick' costs
BTL get rich quick schemes could lead to £2 billion in problem loans at the government owned Bradford and Bingley.
The result of 'Get Rich Schemes' and BMV property clubs many of he loans were created using the Mortgage Express same day mortgage option.
The result of 'Get Rich Schemes' and BMV property clubs many of he loans were created using the Mortgage Express same day mortgage option.
Bradford and Bingleys solicitors alleges that solicitors were "in breach" of their professional duty by not reporting that borrowers were remortaging property within six months of ownership, as stipulated in the Council of Mortgage Lenders handbook. It has also alleged that the Law Society's guidance on property fraud was ignored, reports the Investors Chronicle.
Thursday, June 24, 2010
Landlords expect to expand
The latest quarterly survey of landlords intentions showing that after a 'wait and see' approach there is an increased proportion of landlords in the 2nd quarter of 2010 looking at expanding their residential investment portfolio.
The survey of 500 landlords carried out by BDRC international reveals that 23% of landlords are now expecting to expand their residential portfolio in the next 3 months compared to only 19% in Q4 09. This figure rises to 45% or almost half of all professional landlords (those who consider it to be their main occupation).
One of the significant reasons behind the more expansionary outlook is improvements in the buy-to-let mortgage market. The survey revealed that the percentage of landlord who were having difficulty in obtaining mortgage finance reduced from 51% of landlord in January 2009 to 44% in Q2 2010.
Consequently 21% of all landlords and 41% of professional landlords are likely to seek further mortgage finance in the next three months.
FREE Mortgage Search - whole market
The survey of 500 landlords carried out by BDRC international reveals that 23% of landlords are now expecting to expand their residential portfolio in the next 3 months compared to only 19% in Q4 09. This figure rises to 45% or almost half of all professional landlords (those who consider it to be their main occupation).
One of the significant reasons behind the more expansionary outlook is improvements in the buy-to-let mortgage market. The survey revealed that the percentage of landlord who were having difficulty in obtaining mortgage finance reduced from 51% of landlord in January 2009 to 44% in Q2 2010.
Consequently 21% of all landlords and 41% of professional landlords are likely to seek further mortgage finance in the next three months.
FREE Mortgage Search - whole market
Thursday, May 20, 2010
Paragon - back into BTL lending
Paragon are finally back in the BTL lending game.
The BTL lender said that it was pushing ahead with plans to resume volume lending.
"A return to new lending is a key objective going forward," said chief executive Nigel Terrington. "It is our assessment that the economics of new lending, taking into account the higher funding costs and capital now required, appears feasible."
Read more in the Guardian
FREE BTL mortgage search tool
The BTL lender said that it was pushing ahead with plans to resume volume lending.
"A return to new lending is a key objective going forward," said chief executive Nigel Terrington. "It is our assessment that the economics of new lending, taking into account the higher funding costs and capital now required, appears feasible."
Read more in the Guardian
FREE BTL mortgage search tool
Wednesday, April 07, 2010
Mortgage regulation - Gov stalls
The government has announced that, following its consultation on mortgage regulation, it will publish revised proposals on the buy-to-let sector later this year, after the end of April.In its report entitled Mortgage Regulation: Summary of Responses, the Treasury said although government intervention was needed in the sector, more work needs to be done to refine proposals for buy-to-let to fall under the FSA's remit.
The Treasury maintains that some sections of the buy-to-let sector had been the source of significant consumer detriment that could be prevented through regulation.
Treasury still wants regulation
The Treasury added however that it did not agree with those respondents who argued that these considerations mean that the buy-to-let sector should remain unregulated.
The Report said: "A large number of respondents agreed with the government that there is overwhelming evidence that the operation of some of the buy-to-let market has suffered from significant market failure and that this demands government intervention.
"The government remains committed to action to address these failures."
However it added "to address respondents concerns and in view of the importance of the private rented sector, the government has decided to explore changes to the form of regulation proposed."
The government said it would examine how to ensure the impact of regulation on the buy-to-let market is proportionate, particularly for individual professional landlords.
The document stated: "It will also consider how best to protect consumers from the range of possible causes of detriment that may result from buy-to-let including, if appropriate, the consequences of poor investment decisions as well as unaffordable borrowing."
The report stated the Treasury would commence further consultation on buy-to-let after the conclusion of the current consultation on investment in the private rented sector on 28 April.
For the full story
Buy-to-let Mortgage SEARCH
Thursday, March 11, 2010
Reflect on the Downfall of the KIng and Queen of BTL
Moneyweek reflect on the downfall of Fergus and Judith Wilson and how their situation is a reflection on the UK property market.
Interesting article in Moneyweek
Free property management software, Free tenancy agreements
Interesting article in Moneyweek
Free property management software, Free tenancy agreements
Thursday, January 14, 2010
BTL Mortgage NEWS & VIEWS
Interest rates on mortgage products continue to fall:Mortgage rates (on buy to let and residential mortgages) have steadily decreased over the last few weeks, and the signs are certainly encouraging. Now, I'm not saying we're going to see anything radical over the coming months, but there certainly seems to be a bit more competition between the lenders who are still here.
This of course is good news. . For lenders to start decreasing their mortgage rates means two, perhaps obvious, things:
1. They want to lend more volume
2. To increase this volume they feel the need to decrease their rates.
The logical next step if this doesn't work is to start changing criteria - for example loan to values. Not yet, but watch this space.
Ring 01424 205 373 or email to find out more on these products or to discuss other options. ref - PropertyHawk for No Broker Fee Offer
Tuesday, November 24, 2009
BTL Mortgage Product Pick
85% Buy To Let (for those lucky enough to purchase below market value)
Tiuta has launched a three-year fixed rate buy-to-let deal with a headline rate of 6.99%, and crucially up to 85% LTV.
Sounds painful? Well, here are some unique selling points:
1. The product allows for borrowing on 70% of open market value but not to exceed 85% of the purchase price.
2. Remortgage allowed within 6 months of ownership.
3. Rental criteria is 110% at payrate.
Note: Where ownership is less than 6 months they will fund at the lower of 70% of current OMV or 85% of original PP. If works have been undertaken during this ownership, IN ADDITION to this they will fund up to 85% of the costs of the works undertaken. This will have to be supported by invoices and bank statements to demonstrate genuine investment costs.
Call us now for full details and costs (They also have a HMO product).
Here are some other popular current buy to let deals:
Woolwich
Interest rate: 3.99%
LTV: 60%
Product Detail: Barclays bank base rate + 3.49
Arrangement Fee: 1.75%
Early Redemption Penalties: 6 months within first 32 months.
Our thoughts: Watch out for the base rate - it's Barclays bank base rate not Bank of England base rate, so won't necessarily move together.
And of course, our old favourite for 75% LTV.
BM Solutions
Interest rate: 4.35%
LTV: 75%
Product Detail: 1 year tracker
Arrangement Fee: 3%
Early Redemption Penalties: 3% in first year.
Our thoughts: The lowest rental cover for 75% loan to value mortgages but watch the reversionary rate after the first year.
Ring 01424 205 373 or email to find out more on these products or to discuss other options. ref - PropertyHawk for No Broker Fee Offer
THIS DOCUMENT AND OTHER DOCUMENTS PROVIDED ARE FOR INFORMATIONAL PURPOSES ONLY. THE INFORMATION SHOULD NOT BE INTERPRETED TO BE A COMMITMENT ON THE PART OF RESIDENT BROKER LTD. RESIDENT BROKER LTD CANNOT GUARANTEE THE ACCURACY OF ANY INFORMATION PRESENTED AFTER THE DATE OF PUBLICATION. INFORMATION PROVIDED IN THIS DOCUMENT IS PROVIDED 'AS IS' WITHOUT WARRANTY OF ANY KIND. THE USER ASSUMES THE ENTIRE RISK AS TO THE ACCURACY AND THE USE OF THIS DOCUMENT.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Tiuta has launched a three-year fixed rate buy-to-let deal with a headline rate of 6.99%, and crucially up to 85% LTV.
Sounds painful? Well, here are some unique selling points:
1. The product allows for borrowing on 70% of open market value but not to exceed 85% of the purchase price.
2. Remortgage allowed within 6 months of ownership.
3. Rental criteria is 110% at payrate.
Note: Where ownership is less than 6 months they will fund at the lower of 70% of current OMV or 85% of original PP. If works have been undertaken during this ownership, IN ADDITION to this they will fund up to 85% of the costs of the works undertaken. This will have to be supported by invoices and bank statements to demonstrate genuine investment costs.
Call us now for full details and costs (They also have a HMO product).
Here are some other popular current buy to let deals:
Woolwich
Interest rate: 3.99%
LTV: 60%
Product Detail: Barclays bank base rate + 3.49
Arrangement Fee: 1.75%
Early Redemption Penalties: 6 months within first 32 months.
Our thoughts: Watch out for the base rate - it's Barclays bank base rate not Bank of England base rate, so won't necessarily move together.
And of course, our old favourite for 75% LTV.
BM Solutions
Interest rate: 4.35%
LTV: 75%
Product Detail: 1 year tracker
Arrangement Fee: 3%
Early Redemption Penalties: 3% in first year.
Our thoughts: The lowest rental cover for 75% loan to value mortgages but watch the reversionary rate after the first year.
Ring 01424 205 373 or email to find out more on these products or to discuss other options. ref - PropertyHawk for No Broker Fee Offer
THIS DOCUMENT AND OTHER DOCUMENTS PROVIDED ARE FOR INFORMATIONAL PURPOSES ONLY. THE INFORMATION SHOULD NOT BE INTERPRETED TO BE A COMMITMENT ON THE PART OF RESIDENT BROKER LTD. RESIDENT BROKER LTD CANNOT GUARANTEE THE ACCURACY OF ANY INFORMATION PRESENTED AFTER THE DATE OF PUBLICATION. INFORMATION PROVIDED IN THIS DOCUMENT IS PROVIDED 'AS IS' WITHOUT WARRANTY OF ANY KIND. THE USER ASSUMES THE ENTIRE RISK AS TO THE ACCURACY AND THE USE OF THIS DOCUMENT.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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