As part of our commitment to keeping our clients up to date with changes in the market, we’ve spoken extensively about the impact of changes to mortgage interest tax relief and new buy to let lending standards. We’ve also endeavoured to work with lenders who can continue to support professional property investors seeking portfolio finance, regardless of the recent changes.
This week, instead of a specific product, we’re introducing a lender who offers tailored solutions for professional property investors. This lender can provide finance on a range of portfolios including residential, buy to lets, houses in multiple occupation (HMOs) properties, and commercial property. The entire portfolio will be looked at and valued by a single surveyor, instead of surveying each property individually.
Enness is delighted to be working with this lender, because like us, they take a holistic and bespoke attitude towards lending solutions. They acknowledge how the changes to lending standards in the buy to let market mean that finance needs to be more flexible than ever before.
Using their extensive knowledge of this market, they’ve closely considered what professional property investors need from a lender. Whilst some high-street banks will have restrictions in their criteria around maximum loan to values (LTV) and capital repayment requirements, this lender will consider up to 75% LTV and extended interest only terms at up to 10 years across a variety of variable and fixed rate options.
They acknowledge and understand how the changes in the buy to let market mean that finance needs to be more flexible than ever before. In light of the mortgage interest tax relief changes, you may be considering restructuring your finances. You may wish to shift from owning properties in your name to owning them in a limited company. If you want to change ownership structure to move to a limited company, or raise further capital, the standard early repayment charges (EPC) are waived and no further arrangement fees are charged.
If this sounds like a lender who suits your requirements, I can advise you further. Enness is a whole of market broker who will always strive to find you the financial solution you’re searching for.