FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY.

Transcription

1 Season s The Distributor December 2014 Greetings FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY.

2 Contents Hello and welcome to the last newsletter of What a year is has been for the buy-to-let sector! We ve had record figures, brand new lenders and, of course, the ongoing and seemingly never ending debate on regulation in the buy-to-let sector. As a club we ve continued to grow at a phenomenal rate and we re grateful to each and every broker that has come on board with us. In 2015 we plan on continuing our quest to be the leading club in the industry and we can assure you we ll be doing our best to secure even more exclusives and build even stronger relationships in order to do that. Buy-to-let regulation may be somewhere on the horizon, and if it does come about we will work with you to help you to adapt to it and offer all the support you need. But what I really hope for 2015 is that we see a better understanding of buy-to-let both inside and outside of the market. Misconceptions about buy-to-let are what lead to rash decisions and negative news stories. We all recognise this sector for what it is an innovative, forward thinking market led by some of the most creative companies in financial services. However, sadly the idea that buy-to-let is somehow to blame for the housing market crisis and landlords are preventing would-be buyers from getting on the housing ladder still exists. I hope in 2015 we can all work together to go some way towards dispelling that myth. I d like to take this opportunity to thank you for all of your support this year. I wish you all a relaxed, peaceful and merry Christmas and a happy, healthy and successful new year. See you in 2015! Ying Tan Ying Tan Managing Director Club The Distributor 2

3 WEDNESDAY 12 TH NOVEMBER 2014 THE COPPID BEECH HOTEL, RG12 8TF THANK YOU TO EVERYONE WHO ATTENDED AND TOOK PART IN THE BUY TO LET EVENT...THE DAY WAS A GREAT SUCCESS! Superb event Look forward to spreading the word! Extremely impressed by the whole day Great event professionally managed Brilliant day, great sessions I have learnt a lot! Inspirational and motivational Worth while day event! Superbly well run event

4 have joined our panel! Code Rate LTV Fee ERC GLT % 2 yearfixed 65% 1,749 3%in year 1 and 1%in year 2 GLT % 5 year fixed 65% 1,749 5% in year1-2, 3% in year 3-4 and 1% in year 5 GLT % 2 year flex fixed Gifting you with... Free valuation on all products Free legal s for remortgages No booking fee on selected products No ERCs on selected products 75% 1,749 No EarlyRepayment Charges GLT % 5 year fixed 75% 749 5% in year1-2, 3% in year 3-4 and 1% in year 5 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 WE ARE DELIGHTED TO ANNOUNCE THE LAUNCH OF FLEET MORTGAGES! KEY CRITERIA MAXIMUM 80% LOAN TO VALUE UP TO 500,000 LENDING AVAILABLE TO INDIVIDUALS & LIMITED COMPANIES (SPV) RENTAL COVER OF 5% OR REVERSIONARY RATE (WHICHEVER IS HIGHER) ACCEPTABLE PROPERTY TYPES HMOs STUDENT LETS EX-LOCAL AUTHORITY (UP TO 75% LTV) NEW BUILDS AND CONVERSIONS CORPORATE LETS (CASE BY CASE) FOR FURTHER INFORMATION, CALL AND SPEAK TO A MEMBER OF OUR TEAM TODAY ON 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.

6 Does your clients property need work? Are you running out of options? At Club, we have many different bridging options for you to choose from! Your client can remortgage to any Precise Mortgage product, including our Club exclusives (see page 8) within six months of purchase. Shawbrook Bank offer short term finance options with great rates for experienced landlords. Rates start from 0.65% Whilst Capital Bridging & Bridgebank Capital will offer funding for your more complex cases. Call us on to find out more!

7 Refurb to Term Products Help your client enhance the value and earning potential of their property with InterBay s new Refurb to Term product range! Rates from 0.65% per month and up to 75% LTV during refurbishment period. Max refurbishment period 12 months. Up to 6 months roll up of interest. LTV not affected by interest roll up. Light refurbishment includes decorating, replacement kitchen or bathroom. Refurbishment works must not exceed more than 30% of the day one value/purchase price. No further underwriting required post refurbishment period with further capital release potential. No fees charged when the rate switches to buy to let rates (except on any extra capital raised). Reverts to standard product up to 85% after works completed. 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 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.

9 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.

10 More Exclusive & Semi Exclusive Products SECOND CHARGE SEMI-EXCLUSIVE 0% interest Equity share of the uplift Up to 85% LTV in total Maximum 20% LTV with lender 2% arrangement fee First charge mortgage must meet standard debt service stress test Early Repayment Charge is the greater of 5% of the amount repaid or the relevant Profit Share. Minimum repayment amount is the greater of 2.5% per annum or the Profit Share (not applicable on sale of property) Maximum aggregate loan per borrower of 1,000,000 Maximum loan per property of 400,000 Maximum single property value of 2,000,000 Minimum single property value of 50,000 Minimum loan per property of 10,000 Private individuals only PORTFOLIO FINANCE SEMI-EXCLUSIVE Initial rate of 2.25% to 4% above industry 3 month LIBOR (rate is subject to negotiation and dependent on serviceability and security) Maximum term of 5 years Maximum 65% LTV for repayment Maximum 60% LTV for interest only Minimum lend amount of 500,000 Minimum property value of 75,000 Rental cover is 125% of capital and interest payment based on a notional base of 2.5% plus margin 0.5% commitment fee (payable on acceptance of the offer and refunded on completion) 1.5% arrangement fee (can be added to the loan) No settlement fees are charged for partial capital repayments if the security is undisturbed. Professional residential property investors with a minimum three year proven track record in the investment sector and a minimum portfolio of 10 properties. Available for UK limited companies, individual, partnerships or LLPs. Club The Distributor 10

11 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% Packaged 0.70% 0.45% 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

12 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

13 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, by calling , or Our Partner Charity The Ollie Young Foundation is a charity dedicated to finding a cure/prevention for brain tumours. With 120 different types of other brain tumours, it is the biggest cancer killer of children. The Ollie Young Foundation also supports local hospices and organisations that helped to support the Young family during their tragic ordeal. Please take a few moments to look at their website and find out a bit more about young Ollie and his family We have set up a JustGiving page and we would appreciate if you could help us raise as much money as possible for this incredible charity already 11K!! Images in this months issue have been supplied by Club The Distributor 13