Buy to Let Remortgage

Thebannist

Hi all,

Anyone any experience in re-mortgaging a buy to let property? No banks seem to do it.


Im with Nationwide- Originally lived at the house but now rent it out. My interest shot up by 1% as did the payment of nearly £50.00 per month.


I think its a bit ridiculous so wondering if anywhere actually does it to begin with?


Halifax, COOP, M&S all don't. Santander said go to a broker- Which I won't do without some advice on who is actually good.


Thanks.

amnblog

Santander have it about right for once, there is your solution. Don't expect a massive saving.

YHM

So you wont go to a broker until you find out which lender you can proceed with?

It doesnt quite work like that....

Thebannist

I didn't say that. I said I wouldn't go to one which I don't know is good. I don't know which to avoid and which to instruct.

kingstreet

You should ask friends or relatives for a broker recommendation.

VFR-Rider

For me broker selection was a bit different.

I have no relatives that still had a mortgage or friends with anything near comparable (some would just say "or friends" but that's a different story).

I narrowed it down to 3 of the regulars on here (liked their style) then went with the one that seemed to fit me best.

3 years & 4 products (2 remortgages & 2 retention products) later I'm still more than happy with my choice & will be going back on the next renewals.

On the plus side if I get some friends or family that ask I have a recommendation to give!

Thebannist

I was sort of looking for that here. The forum that it is.

But if not thanks for your replies anyway.

kaych

I used the mortgage adviser recommended on MSE. I didn't use the first one on the list (not sure if it's ok to name them), as when I spoke to them, it just didn't feel quite right and they didn't really follow up with my initial enquiry. I went with the second one on the list (which apparently normally cost around £500 if you go to them direct but the fee was waived if you went through MSE link). They were very responsive and helpful throughout and they helped us get a BTL mortgage with Barclays.

kingstreet

From the MSE Advisor code of conduct;-

Mortgage Advisers should not tout for business on the boards or in PMs. There should be no posts or unsolicited PMs offering mortgage adviser services. Nor should advisers ever say ‘see my profile for who I work for’ or make any other such comment.

However if a user requests their service either via PM or forum post then I have no objection to that and the business generated. Yet if someone requests the service by a post on the board, the broker should simply post to say “I will PM you” rather than posting details there.

Any mortgage adviser found to be flouting this ‘no touting’ rule will potentially lose their rights to post on the forum (PPR). This applies whether the adviser is using a signature or not.

djpix99

I have just re-mortgaged a property using Habito(Online mortgage broker) and found them to be really helpful, never needed to chase them at any point in the process, they were always really prompt in coming back to me with updates.

p.s. You can get cashback via Topcashback on them too.