Buy to Let

Buy-to-let mortgages are available for purchasing and remortgaging. We are seeing more and more lenders come back to the market with competitive BTL mortgage deals, which is a positive sign for the industry. Whether you are a new property investor or a seasoned Landlord, Harvey Bowes have expert advice and a comprehensive range of lenders at our finger tips.

As Buy To Let investors ourselves, we fully understand the objectives, the pitfalls and advantages of property investment. The strategy for acquiring the right mortgage for your buy to let purchase or remortgage is not just about the lowest rate mortgage, although competitive rates are important. At Harvey Bowes we want to understand your long term objectives and understand how you plan to get there – that way we can help with mortgage advice tailored to you personally.

Within this page of the website, there is an overview of the following areas:

  • Mortgages for seasoned investors
  • Mortgages for first time landlordsbuy to let mortgage broker
  • HMO & Commercial buy-to-let
  • Bridging Finance
  • Property Investors Network
  • Why use a mortgage broker

Mortgages for seasoned investors

Obtaining finance as an investor with a portfolio may take a different approach. While some lenders may restrict lending to someone with more than few properties, there are lenders who appreciate lending to professional landlords, or those with substantial portfolios has its merits. And there are lenders who have no minimum income requirement for established or experienced landlords. This is particularly useful if an investor is, for example, continuing to invest into properties and therefore showing less profit than one might expect on the bottom line. As investors ourselves, we are confident in our ability to deliver the right advice. At the foot of this page there is an enquiry form, please contact us via the enquiry form or by calling 02921754150 for more information.

Mortgages for First Time Landlords

Some lenders do not accept applications from first time landlords. Others, have a set product range at higher rates. However, there are of course, lenders happy to lend to first time landlords based on their standard product range. If you are looking to invest in property for the first time, the right thing to do is to get the right advice. At Harvey Bowes, we are happy to help with even a tentative enquiry. We are happy to chat through the options and help get you started. If you have already found a property then it is certainly time to talk to us. If you have not, let our advice form part of your property search. Even if you feel you have a good knowledge about residential mortgages and how they work, it is a different approach to the way many Buy-to-Let mortgages are structured. One example of this is how the rental income a property is expected to generate is key factor in the lender calculating how much they are prepared to lend, a well considering the loan-to-value ratio.

buy to let mortgage broker cardiffHMO & Commercial Buy to Let

While there are many ‘off the shelf’ mortgage products available for standard buy-to-let mortgages, HMO is viewed as rather a specialist field. Lenders accept there is a greater yield on the property, however, there is also greater responsibility. As such, most lenders offering HMO mortgages will require a landlord to be experienced before considering a HMO mortgage application. The minimum length of time as a landlord ranges from just 6 months to 3 years with the main lenders. However, there are also alternatives with more flexibility. While HMO mortgage products are relatively seldom from the main stream lenders on an ‘off the shelf basis’, there is an option experienced or inexperienced landlords to apply for a commercial mortgage to fund a HMO remortgage or purchase. Commercial mortgages are very different in structure to standard buy to let and residential, however, with a professional mortgage broker, this may be a viable option. Contact Harvey Bowes for more information on 02921754150.

Commercial based lending may also be required for a buy to let property where the landlord/investor owns a whole block of flats or requires the borrowing to be in the name of a limited company or limited liability partnership.

Bridging finance

Where funding is for a quirky property or somewhere needing substantial refurbishment, a bridging loan may be required to supply initial funding. Bridging financiers need to understand what will happen to the property and therefore what the exit route is to their finance, ie sale or remortgage. This will form an integral part of any application. It is important therefore to use a broker fully conversant with what the bridging lenders will require. It is important to note that Harvey Bowes are experienced in this field and where appropriate go direct to the bridging funders with your application. Many UK mortgage brokers use a packager to access these lenders and ultimately that means you are paying additional fees as the applicant. For a professional chat about your bridging plans, contact us today, 02921754150. To find out more about Bridging Finance, click here.

Property Investors Network

The Property Investors Network, also known as the PIN meeting is an excellent opportunity for both seasoned and new property investors to meet like-minded people, share tips and learn about niche areas of the industry from experts. To find out more, take a look at out our page on the Property Investors Network by clicking the link.

Why use a broker?

Firstly, you make be thinking it is simply about a brokers expertise and market knowledge, however, there is a second significant reason—and that is the availability of mortgage products. While data will continue adapt and develop, as at 03/04/2011 TrigoldCrystal (A leading software system for Mortgage Products) showed that just 68 BTL purchase products were available to Landlords directly from the lender, while mortgage brokers had access to 704. The difference between BTL remortgage deals was even greater. It therefore stands to reason that whether you are an experienced BTL landlord or someone relatively new to the market, it is not just the expertise that will prove invaluable, but also the range of products available from professional mortgage brokers.

The service a broker can offer is far greater than sourcing the initial mortgage needed. At Harvey Bowes, we are often called upon to give advice on how to develop the overall strategy of an expanding portfolio. It is important if you are taking property investment seriously, that you are comfortable with the advice you are getting from your mortgage broker – not only on a specific mortgage product for an individual transaction, or loan based on a portfolio, but also getting good advice to help with the expansion of your portfolio and your exit route at whatever stage that may be. Property investment is a business and any good business should have a business plan. At Harvey Bowes, we can help with this too.

Looking for a bridging loan to purchase an investment property? click here

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keep up repayments on your mortgage

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