Amid continuing interest in the Holiday Let market, we received a reminder today from one of our Building Society contacts of their appetite for Holiday Let mortgages, including properties to be occupied by the borrower for part of the year let for the remainder. Air BnBs and applications from ex-pats are also considered for Holiday Let applications.
Homeowners and Residential Landlords in England can now apply for a Green Homes Grant voucher towards the cost of installing energy efficient improvements to their properties. Rules apply, but under the scheme the Government will potentially contribute up to £5,000 to cover two-thirds of the cost of eligible improvements, with the property owner contributing the remaining third. Vouchers must be redeemed and improvements completed by 31 March 2022.
Zephyr Homeloans, a relatively new Buy to Let specialist lender, announced reduced interest rates across its product range. Highlights include:
- Rates from 2.49%
- New 7 Yr. Fixed Rates available from 3.30%
- 5 Yr fixed rental stress from 125% at pay rate
- Maximum age 95 at completion of mortgage
- HMO’s to 6 bedrooms
- MUFB’s up to 6 units
- Unlimited background portfolio
- Flats above commercial considered
Kensington mortgages new range of buy to let mortgages for HMO and Multi Unit properties includes 2 year and 5 year fixes for mortgages up to 80% of value at 3.44% and 4.19% respectively.
Maximum 6 beds (HMO) or 6 units in a block; minimum valuation for HMOs is £75,000 but no minimum for Multi-unit block. Maximum loan £1m per property; maximum term 40 years. Available for individuals and company applicants. No maximum age at end of the mortgage term for landlords and company directors. No limit on the number of properties owned, but not suitable for first time landlords.
These products are available through ibmco. Enquiries welcome.
Northview Group which includes Kensington Mortgages and New Street Mortgages has decided to simplify its brand offering by combining all mortgages in future under the Kensington banner. At the same time the Kensington Buy to Let range has been extended to include Limited Company borrowers, experienced and first time landlords and new build properties. There is a maximum of £2m borrowing from Kensington but no limit on the number of properties owned by an applicant with mortgages elsewhere.
BM Solutions are offering £500 cashback on remortgages until 8th April 2018
Investment and Business Mortgage Company LLP is authorised and regulated by the Financial Conduct Authority reference no. 656622
Investment and Business Mortgage Company LLP is a limited liability partnership registered in England and Wales with Registration Number OC341269.
Registered Office is: 191 The Oval, Bingley, BD16 4RJ