The Distributor February 2015 FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY.
Contents Welcome to the latest edition of our newsletter. I hope your year is off to a flying start. It s certainly been an interesting one for the market and we re only a few weeks in! We ve had big news from TMW, with the launch of its 10 year buy-to-let fixed rate deal at an excellent rate of 5.99%, a huge development from Woolwich, which announced it will now allow personal income to be accepted when assessing buy to let affordability and a massive change at Keystone, which will now accept applications from first-time landlords. These are all positive changes and show that the buy to let market is continuing to grow and develop, both in size and in terms of innovation and flexibility. One of the most notable developments of the last few weeks comes from Santander. The Spanish banking giant has launched a specialist New Build relationship team in a move which demonstrates just how much the new build sector has come on. Traditionally lenders were fearful of new builds because of the risk they presented. For a lender of Santander s standing to create a team specifically for this sector is a giant leap forward for the industry and great news for investors and brokers. The New Build team will provide support and work closely with brokers to ensure there are no delays in completing new build cases. 2015 is already shaping up to be an exciting year of change for the buy to let industry, let s hope it continues. Ying Tan Ying Tan Managing Director Club The Distributor 2
Coventry Giveaway Winner! LUXURY HAMPER WINNER! Well done to KERRY SANTUCCI who won our hamper giveaway last month and was kind enough to send a picture in! 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.
FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY. Equity Loan The Buy To Let Equity Loan helps clients gear up their buy to let borrowing. It is a second charge loan so there is no need to disturb the existing lending. Clients can borrow up to 20% of the property value; There is no additional stress test on the rental income - helping to expand portfolios; There are no monthly payments - protecting cash flow; Loan is repaid at redemption, along with a share in any growth in property value over the term of the loan (see Repayment below) or the Minimum Repayment Amount (MRA), whichever is the higher; Maximum term 10 years; Minimum loan per property 10,000, maximum loan per property 400,000; Maximum Age of 80 at the end of the mortgage term; ERC in year one only; No minimum income required. Call us at the Club to find out more 01276 601 041!
Giving you more lenders to choose from... Fleet Mortgages launch new product range! You can access their full product range using Club. Please see below for details of this exciting range: Maximum 80% loan to value Maximum loan 750K for new customers Will consider multiple tenancies, capital raising & corporate lets! HMO Up to 75% Purchase & Remortgage 2.69% Fixed rate up to 65% LTV with 1% arrangement fee, initial rate end 30/04/2017 Individual BTL 3.81% Lifetime tracker up to 65% LTV with 1% arrangement fee, Limited Company BTL 4.29% Fixed tracker rate up to 75% LTV with 1% arrangement fee, HMO BTL FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY.
FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY. New Build Exclusives Santander launched New build residential exclusive products that come with the added benefit of extended completion deadlines. In addition they are improving the process for customers purchasing a New Build property by the added benefit of a free valuation by instructing the day the application is set up! New Build Exclusives with Extended Completion Deadlines: 2.04%, 2.5 yr Fixed, 75% LTV, 995 fee 2.29%, 2.5 yr Fixed, 80% LTV, 995 fee 2.74%, 2.5 yr Fixed, 85% LTV, 995 fee Call us today on 01276 601 041 or email us at mortgageclub@thebuytoletbusiness.com
We are delighted to announce we have been nominated for Best Mortgage Club 2015!! Thank you to everyone who voted for us! Best Mortgage Club Nominee - Club 2.69% 2 Year Discounted Rate 2.74% 2 Year Discounted Rate Revert to lender s SVR of 5.64% Revert to lender s SVR of 5.64% Maximum 60% Loan to Value Maximum 75% Loan to Value Rental cover of 135% @ 2.69% Rental cover of 135% @ 2.74% 999 arrangement fee 999 arrangement fee 250 booking fee Free valuation up to 1,000,000 250 booking fee FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY. Free valuation up to 1,000,000
THE SPECIALIST LENDER RENTAL COVER AT PAY RATE, FLAT FEES AND LOANS UP TO 1,000,000 3.89% LIFETIME TRACKER UP TO 75% LTV RENTAL COVER OF 125% @ 3.89% 2,495 ARRANGEMENT FEE MINIMUM LOAN 100,000 MAXIMUM LOAN 250,000 3% ERC IN YEAR ONE AND 2% ERC IN YEARS 2-4 3.63% LIFETIME TRACKER UP TO 70% LTV RENTAL COVER OF 125% @ 3.63% 2,495 ARRANGEMENT FEE MINIMUM LOAN 100,000 MAXIMUM LOAN 250,000 3% ERC IN YEAR ONE AND 2% ERC IN YEARS 2-4 3.89% LIFETIME TRACKER UP TO 75% LTV RENTAL COVER OF 125% @ 3.89% 2% ARRANGEMENT FEE MINIMUM LOAN 250,000 MAXIMUM LOAN 1,000,000 3% ERC IN YEAR ONE AND 2% ERC IN YEARS 2-4 3.63% LIFETIME TRACKER UP TO 70% LTV RENTAL COVER OF 125% @ 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.
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% 947.50 Min 10,000 Max 852.75 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 0.5% 0.7% 0.45% 0.8% 0.4% 0.37% 0.32% & Commercial Refurb Refurb to Term 1.50% 2.00% 2.50% 0.75% 1.00% 1.25% Residential 0.50% 0.35% 0.45% 0.30% 0.50% 0.40% Club The Distributor 11
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 0.80% 0.80% 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 + BTL & Commercial Bridging Finance 50% of arr. fee* 0.50%* 0.50% 0.33% 0.40% 1.50% 1.95% 40% of arr. fee* 0.40%* 0.46% 0.32% 0.36% 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
Contact Us 01276 601 041 info@buytoletclub.com www.buytoletclub.com Suite 1.1 Coliseum Building, Riverside Way, Camberley, Surrey, GU15 3YL Mortgage Club Manager Contact Cat Armstrong, by calling 07795 622 605, or email cat.armstrong@buytoletclub.com Telephone Business Development Manager Contact Jon Williams or Jordan Catto on email Jon.Williams@thebuytoletclub.com Jordan.catto@thebuytoletclub.com Or call 01276 601 041 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! http://www.mind.org.uk/ 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. http://www.justgiving.com/tbtlb-mind Images in this months issue have been supplied by www.shutterstock.com Club The Distributor 13