Buy to Let Mortgages
Buying your first investment property? Or maybe your 100th?
Need to understand BTLs or already an experienced landlord?
We're here to help. We can offer:
Refurbishment Loans
Portfolio Landlords
Start your mortgage journey now, make an enquiry...
Whether you are looking to Buy or Remortgage a Buy to Let property, you are only a few clicks away.
Is Buy-to-Let right for you?
Buy-to-Let can provide rental income, but returns aren’t guaranteed. Rents can fall, properties can sit empty, and costs and tax rules change. Property values can go down as well as up.
Speak to a tax adviser and consider your wider plans before investing.
First Time Landlords
Thinking of becoming a landlord? With the housing market slowing, renting has increased due to higher numbers of people unable to raise the capital needed to purchase a property.
A Buy-to-Let can provide rental income, but returns aren’t guaranteed and you’ll need to plan for costs, void periods and tax.
We can advise on all aspects of - interest rates, rental calculations, repayment types, terms and conditions, and legal considerations such as stamp duty.
We also have access to semi-exclusive products to help you onto the Buy to Let ladder, or if this your first purchase, the property ladder.
We will always recommend you also take specialist tax advice as part of the process.
HMOs and MUFBs
Houses in Multiple Occupancy (HMOs) and Multi-Unit Freehold Blocks (MUFBs) have become increasingly popular in the last few years, with Landlords attracted by the higher yield that such properties may offer.
impact's specialist advisers understand this market and the extra considerations, such as planning requirements, mandatory licensing and property maintenance costs (which also need to be taken into account when assessing the suitability of the property for a mortgage).
Impact Specialist Finance has access to HMO mortgages from the whole of the market, and are Key Broker Partners with Specialist HMO lenders, providing direct access to underwriters on complex cases, where a flexible approach is required.
From small student house shares, through to large setups, HMOs and multi-unit freehold blocks - our specialist advisers can assist.
From the 1st of October 2018 the regulations around HMOs changed and you may be affected.
Click for More Details (opens in a new tab)
Limited Company
Buy to Let lending to Limited Companies has increased dramatically since the implementation of the Section 24 tax changes, with many tax advisers now recommending their clients change to a corporate structure.
Professional tax advice should be sought in all cases, and our advisers are happy to liaise with your tax consultant directly to ensure that the financial structure is executed correctly.
We can cater for Special Purpose Vehicles, Limited Liability Partnerships and more.
Not all lenders offer Buy to Let mortgages to Limited Companies and this still remains a specialist market, where adviser expertise is key.
Considerations, such as company structure, standard industry classification (SIC) code, and requirements for personal guarantees & debentures all need to be taken into account.
impact's advisers understand the complexities of lending in a Limited company and can advise the correct type of mortgage for you.
Refurbishment Loans
Refurbishment loans can be used for a vast array of purposes, all with a common objective of adding value to a property. The type of refurbishment loan and product recommended will depend very much on the individual project.
Considerations, such as nature of works, the experience of similar projects, cost of works, planning requirements, gross development value and exit strategy all need to be taken into account.
In some cases, it may be possible to fund 100% of the purchase cost and work - by taking other security into account, or providing a funded development product - where drawdowns are advanced in stage payments against the progress of the build.
Impact Specialist Finance can arrange refurbishment loans from the whole of the market, from small local Building Societies offering BTL "refurb" products, to large bridging and development lenders - many of which are our key partners and we're able to offer semi-exclusive products.
Our advisers can guide you through the various options, to ensure that your refurbishment project obtains the right funding on day one.
Portfolio Landlords
As a portfolio landlord, your properties are your business, your income and here at impact this has our complete understanding!
Like any business owner you will want to get the most from your business and see this grow. As you are aware there are many facets to this and your mortgage needs are just one of them.
However you maybe unaware of some of the procedures, deposit levels, and even how much you can borrow.
At impact, we will assist you through every step of the mortgage process, from finding a suitable mortgage to picking up the keys to your next property.
We can help guide you through this process, offering not only mortgage advice but by building a relationship with you for the longer term with one of our experienced Buy to Let advisers.
PRA Changes
Following the recent PRA (Prudential Regulation Authority) changes, if you own 4 or more mortgaged buy to let properties you are considered a "portfolio landlord" which means, in most cases, Buy to Let lenders will have stricter underwriting requirements and will now need:
Business Plan
The lender will check to see if there is an effective long-term plan or strategy in place for your property business.
Stress Testing
You may be subject to additional stress testing not just on the individual property but against your whole portfolio
Cash Flow
As well as looking at the rental income of the property a lender may ask for breakdown of your incomings and outgoings in relation to you properties.
Personal Income
For low yielding properties some lenders are now introducing "top slicing", taking earned income into consideration where there is a rental shortfall.
Assets & Liabilities
Lenders may ask for a statement of your assets and liabilities to ensure that refinancing a property, or adding another property to your portfolio will not cause any future issues.
This may seem a little daunting, however our advisers deal with all this day in, day out and want to make it as easy for you as possible. Provide the details and we'll guide you through what each lender needs.
The Buy To Let Mortgage Process
Want to know what happens at each stage? See how the mortgage process works, step by step.
SOME BUY TO LET PRODUCTS ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY
MORTGAGES IN ANOTHER CURRENCY - CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING EQUIVALENT OF YOUR DEBT