Buy to let help desperately needed

vivalasblackpool

Hi all,

This is my first post - I hope you can help.

My partner and I currently own our house and a buy to let. We are both South African on a five year ancestral visa with one year left. Our buy to let was originally our home and we got a consent to let from Halifax (paying about 6% interest rate). Halifax now say that this consent is going to end this month and in order to keep it we need to pay a fee of 1.5%! And the interest rate is still over 6%!

We obviously want to get away from Halifax and spoke to a broker who advised us that because we do not have indefinite leave to remain there are no other buy to let companies that will consider us. This seems really unfair as next year we will be able to get indefinite leave and we don't intend on leaving the country.

Please can anyone help to point us in the direction of a lender who might be able to help? I don't mind paying an arrangement fee, I don't mind paying a higher rate but both together sticks in my throat a bit!

Thanks,

Mike.

Dave_Ham

Hi Mike,

I think there are some solutions here and I have arranged something similar in the past, although cant recall the details.

I am just shooting out to see clients, but if nobody else has given you a heads up I will confirm something better for you in the morning when back in the office.


Dave