For the more seasoned investor and those of us who have been round the block a few more times than others, it can be difficult to find what you want from the vanilla ‘buy to let’ marketplace.
If there are too many hurdles to overcome then standard options may be thin on the ground for you or your company.
The good news is that there are a growing number of specialist lenders who sit in the gap between standard buy to let on the one side and commercial high street mortgages on the other. These ‘complex’ buy to let lenders are intermediary only lenders and can often be the answer for you where other lenders have failed. You won’t always find them in the ‘best buy tables’.
Well, you don’t have to really, it’s up to us to understand what we can get from these lenders that we can’t get elsewhere to ultimately help you.
It’s true that going this route is not as straightforward as ‘off the peg’ buy to let deals, but there are usually good reasons for you as an experienced property investor, to move across to these lenders. Here are a few examples...
Commercial mortgages tend to require more work than a standard buy to let mortgage and do typically take more time to put together, but sometimes they are more flexible and with certain types of deals, they may be the only possible way forward.
"You can often get a more common sense approach"
These mortgage deals require more input from all sides. It’s therefore down to us to sound out our lending sources to see who has the best appetite for the type of deal we are proposing for you, and of course who we can use to secure the most competitive mortgage deals.
Lending decisions are typically based your personal circumstances. We do need a higher level of personal documentation – for example; personal & business bank statements, trading accounts, income and expenditure as well as asset and liability statements, and any leases or tenancy agreements.
Human underwriting does takes longer, but on the flip side - you can often get a more common sense approach, and we get the chance to present a solid business case to lend.
Up to 85% loan to value, and with additional security up to 100% is achievable.
To be fair, it’s far more practical to contact us and discuss the merits of your case, and get some specifics on what we can and can’t do for you.
We work in a similar manner across the board, so you can contact us and take as much free advice as you like, we start by building a profile of you, the property you are buying and your preferences and goals, and present the options back to you before you commit in any way.
It’s risk free from your point of view, and any fees are not chargeable until you see results.
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