FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY.

Transcription

1 The Distributor January 2015 FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY.

2 Contents Hello and welcome to our first newsletter of As the festive season becomes a distant memory, it s time to set our sights on the year ahead. For me, January is always a really positive month as it is filled with so much promise. This could be the year you achieve huge success, reach your goals and maybe even last a whole month without breaking your New Year s resolution. The possibilities are endless! For Club my goals for this year are the same as always, to continue to grow our club and cement its place as the leading mortgage club for buy to let brokers. To do this we will continue to build solid relationships with market leading lenders, sourcing the very best exclusives for our members and working hard to ensure we offer the best benefits of any mortgage club. I believe we can expect great things from the buy to let market this year. Both lenders and investors are noticing the value of the sector as the popularity of the Private Rented Sector continues to grow. I think we will continue to see a shift in the way in which renting is viewed as tenants continues to see the benefits the PRS offers and this can only be a good thing for all of us. Here s to a fantastic Ying Tan Ying Tan Managing Director Club The Distributor 2

3 Coventry Giveaway Winner! LUXURY HAMPER WINNER! We had a Luxury Hamper to give away in our prize draw to the value of 100 if you were to use as a payment route or register with Coventryby 31st December 2014 and the winner is. KERRY SANTUCCI CONGRATULATIONS!! A reminder Coventry Key Criteria Includes: Free valuation on all products Free legal s for re-mortgages No booking fee on selected products No ERCs on selected products FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY. This technical document is for intermediaries only. It should not be shown, given or distributed to existing or potential clients. It is not an advertisement for the purposes of the Consumer Credit Act Details correct at time of going to press.

4 Equity Loan Are your clients having difficulty raising capital on their buy to let properties? Do you have cases where the rental coverage does not add up? Then the Castle Trust buy to Let Equity Loan could prove a suitable solution! Unique 2 nd charge Equity Loan No minimum income required Borrow up to 20% LTV - up to a combined LTV of 85% There are no monthly payments the loan is repaid plus a share of any growth in the property value over the loan term subject to a minimum repayment amount. Call us at the Club to find out more ! FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY. This technical document is for intermediaries only. It should not be shown, given or distributed to existing or potential clients. It is not an advertisement for the purposes of the Consumer Credit Act Details correct at time of going to press.

5 NEW LENDER Why Fleet Mortgages? HMO : General Criteria Includes: Profession & first time Landlords Up to 80% LTV Ex-local Authority up to 75% LTV 750K for New Customers and 2m for existing Customers They will consider Up to 75% Purchase & Remortgage Maximum 6 bedrooms Rental based on a room only basis Minimum property value 150k Multiple Tenancies Corporate & Student Lets Capital Raising Freehold blocks up to 10 units Properties next door Limited Company : Up to 80% Purchase & Remortgage SPV new or existing Personal Guarantees required from Directors / Shareholders No ERCs on selected OR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY. s technical document is for intermediaries only. It should not be shown, given or distributed to existing or potential clients. It is not an advertisement for the purposes of the Consumer Credit Act Details correct at time of going to press.

6 THE SPECIALIST LENDER RENTAL COVER AT PAY RATE, FLAT FEES AND LOANS UP TO 1,000, % LIFETIME TRACKER UP TO 75% LTV RENTAL COVER OF 3.89% 2,495 ARRANGEMENT FEE MINIMUM LOAN 100,000 MAXIMUM LOAN 250,000 3% ERC IN YEAR ONE AND 2% ERC IN YEARS % LIFETIME TRACKER UP TO 70% LTV RENTAL COVER OF 3.63% 2,495 ARRANGEMENT FEE MINIMUM LOAN 100,000 MAXIMUM LOAN 250,000 3% ERC IN YEAR ONE AND 2% ERC IN YEARS % LIFETIME TRACKER UP TO 75% LTV RENTAL COVER OF 3.89% 2% ARRANGEMENT FEE MINIMUM LOAN 250,000 MAXIMUM LOAN 1,000,000 3% ERC IN YEAR ONE AND 2% ERC IN YEARS % LIFETIME TRACKER UP TO 70% LTV RENTAL COVER OF 3.63% 2% ARRANGEMENT FEE MINIMUM LOAN 250,000 MAXIMUM LOAN 1,000,000 3% ERC IN YEAR ONE AND 2% ERC IN YEARS 2-4 FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY. This technical document is for intermediaries only. It should not be shown, given or distributed to existing or potential clients. It is not an advertisement for the purposes of the Consumer Credit Act Details correct at time of going to press.

7 BUY TO LET EXCLUSIVES 2.69% 2 Year Discounted Rate Revert to lender s SVR of 5.64% Maximum 60% Loan to Value Rental cover of 2.69% 999 arrangement fee 250 booking fee Free valuation up to 1,000,000 No Early Repayment Charge 2.74% 2 Year Discounted Rate Revert to lender s SVR of 5.64% Maximum 75% Loan to Value Rental cover of 2.74% 999 arrangement fee 250 booking fee Free valuation up to 1,000,000 No Early Repayment Charge FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY. This technical document is for intermediaries only. It should not be shown, given or distributed to existing or potential clients. It is not an advertisement for the purposes of the Consumer Credit Act Details correct at time of going to press.

8 Lender Panel & Procuration Fees Lender Product Type Gross Fee Net Fee 0.50% 0.45% 0.50% 0.48% BTL & Residential Commercial 0.45% 0.40% 0.75% Min 10,000 Max Min 9,000 Max & Commercial 1.25% 1.00% Additional Borrowing & Product Transfers 0.44% 0.41% Bridging Finance 2.00% 1.00% BTL 2nd Charge 2.00% 1.50% & Residential 0.43% 0.40% Bridging Finance 1.75% 1.50% Direct 0.50% 0.45% 0.8% 0.4% 0.37% 0.32% & Commercial 1.50% 0.75% Residential 0.50% 0.35% 0.45% 0.30% 0.50% 0.40% Club The Distributor 11

9 Lender Panel & Procuration Fees Lender Product Type Gross Fee Net Fee Residential 0.42% 0.32% 0.37% 0.25% 0.42% 0.40% 0.50% 0.45% 0.36% 0.34% Residential 0.45% 0.35% 0.40% 0.32% 0.48% 0.43% Residential Bridging Packaged 0.60% 0.60% 1.75% 0.80% 0.50% 0.50% 1.30% 0.50% All Products 0.40% 0.38% Up to 1 mil loan 1 mil to 5 mil loan *All fees are subject to change Residential Residential 5 yr fix + 50% of arr. fee* 0.50%* 0.50% 0.33% 0.40% 40% of arr. fee* 0.40%* 0.46% 0.32% 0.36% 0.60% 0.30% BTL & Commercial Bridging Finance 1.50% 1.95% 0.75% 1.00% 0.44% 0.39% Bridging Finance 1.20% 1.00% & Flexible Mortgages Rate Switches 0.34% 0.20% 0.32% 0.18% Club The Distributor 12

10 Contact Us Suite 1.1 Coliseum Building, Riverside Way, Camberley, Surrey, GU15 3YL Mortgage Club Manager Contact Cat Armstrong, by calling , or Telephone Business Development Manager Contact Jon Williams or Jordan Catto on Or call Our Partner Charity Every year, one in four of us will experience a mental health problem. But hundreds of thousands of people are still struggling. MIND believe no-one should have to face a mental health problem alone. The Business are supporting this great charity this year and hope you will join us in raising as much money as possible to help! We have set up a Just Giving page and we would appreciate if you could help us raise as much money as possible for this incredible charity. Images in this months issue have been supplied by Club The Distributor 13