BTL Remortgage - not an easy one!

Dan_Collins_2

The Mortgage works do some very good portfolio deals. They spread the finance and pre arrange funds for you if you want to extend your portfolio!

They are part of Nationwide, well are now after the portman got eaten alive!

socrates

Yes all long leases - I think the stumbling block is going to be someone who does not require proof of income. It is going to have to be someone who has a good relationship with a lender who can smooth the way. So anyone who can structure a deal for me let me know.

socrates

The funny thing is that I was with Mortgage Works prior to Clydesdale

herbiesjp

There are several lenders that have a minimum income requirement, but who do not want proof of income.

There is no need to smooth the way, as it is standard lending criteria with those lenders.

It would simply be a case of seeing which of those lenders offer you the best deal in terms of interest rate and fees, based on your whole scenario, and the circumstances of the individual properties

socrates

Many thanks - now I need some pointers as to which lender specifically is relevant - so far Kensington, Capital Home Loans, Mortgage Works and UCB have been mentioned.

I have seen some adverse comments on Kensington but how difficult can it be to get a 0.65% above base rate two year deal wrong?

Jonbvn

Have you considered a tracker mortgage, since the general consensus is that interest rates are likely to fall in the next year?

socrates

I think that is what the Kensington deal is - 0.65% above base - any suggestions of specifics?

WildHaggis

Socrates,

You've had some great advice from this forum. What you need to do now, is find a fee-free broker, and let her/him get on with finding you the right product(s) for your individual circumstances. There are too many complexities in your situation - especially if you include the commercial property into the equation (your other post) to learn much more through this forum.

And - although I'm shooting us brokers in the foot - there may be space for you to negotiate a reduced fee (Yup - from a NO fees broker. Ask for a refund of some of the commission), as all the work can be done at one time.

socrates

more than willing to do that kind of deal - but it is not essential I would be quite happy to get the right deal all round. Anyone who is a specialist can contact me directly (private message) as long as that does not break any of the sites rules.

Cheers!

herbiesjp

socrates wrote: »

more than willing to do that kind of deal - but it is not essential I would be quite happy to get the right deal all round. Anyone who is a specialist can contact me directly (private message) as long as that does not break any of the sites rules.

Cheers!

But that does indeed break the site rules

Please see: http://forums.moneysavingexpert.com/showthread.html?t=325378