New affordability rules came into force in September 2017 for landlords with four or more properties – but which lenders are coming down hardest? As the Bank of England’s Prudential Regulation Authority enforce stricter stress testing for portfolio landlords this had made portfolio landlord business harder to place with lenders.
Tighter restrictions on portfolio borrowing means more work for advisers
The changes only affect people defined as portfolio landlords – those with four or more mortgaged buy-to- let properties. But the new rules will mean significantly more work for advisers. Lenders now need to assess the financial viability of every property in a landlord’s portfolio when deciding whether to offer them a further loan. Previously, landlords could provide information about their overall accounts. Now, they will need to show mortgage details, cash flow projections and business models for every property they own when applying for a new mortgage.
Our job is to make your job simple, fast and efficient. AdviserLoan has a wealth of
experience in this sector and enjoys robust relationships with longstanding and new lenders to the specialist market.
With our support, your clients can successfully re-mortgage or purchase properties personally or within a company.
- Portfolio landlords (4+ properties)
- Mortgages in personal name, limited company/LLP (SPV & trading companies)
- Flexible rental calculations
- Personal income/asset top-ups for rental coverage
- High value properties
- Large portfolios
- Houses of multiple occupancy and student lets
- Multi-units (i.e. four flats on one freehold title)
- Short term lets (Airbnb and similar)
- Holiday lets
- Unusual property types
- Listed buildings
- Flats above commercial premises
- Refurb-to- let products
- Day one re-mortgages
- No minimum income/self-funding BTLs
- Ex-pats and foreign buyers
- First-time buyers and first-time landlords
- High loan to value mortgages
- Adverse credit history
- Market-leading rates
- Up to 85% LTV
- Fixed and variable rates
- Interest-only options
- Products with no fees, no ERCs and cashback deals.
- Lending in England, Scotland and Wales
With many changes in the area of Portfolio lending, Adviserloan have found it key to keep up to date with the new criteria and have worked hard to become experts in the field. With many advisers essentially “washing their hands” of this area, we are proud to be able to continue offering a top-class service with the ability to offer mortgages from the whole of the market.
We will help your client throughout the process and will keep you up to date with the
progress of your client’s case throughout. We will only ever discuss the product in question with your client leaving cross sales and after sales for you to progress.
We aim to be simple, fast and efficient in all of our dealings with your clients requirements alongside offering exceptional customer service throughout.