BTL loans post PRA

BTL loans post PRA

We are having a bit of a push on Buy to Let loans as we are seeing increasing success from this sector.

If your landlord clients are aware of these products we think you will see more demand – certainly that’s the case for some brokers.

Since the PRA changes last year we have more BTL lenders, lower rates and more flexible criteria.

Before declining a BTL capital raising case please let me have a crack at a second charge.

Headlines include:

• Projected rental income accepted
• Non rental income included in affordability assessment
• No stress test on first and second charge
• Portfolios – standard affordability calculations – no in depth business plans required
• Limited company and SPV’s accepted – now at lower rates
• Low value or non-standard construction
• High rise ex council / deck access – now lower rates
• No consent required to a second charge – Many first charge BTL lenders withhold consent
• Prime or heavy adverse catered for
• Exclusive – Second charge bridging up to 80% LTV –some adverse accepted and can be used to take out an existing bridge.

Just give me a call to talk through any scenario or send me a DIP form.

www.promisemoney.co.uk

01902 585052