Professional Landlord mortgages.
Fox Davidson work with banks, building societies and broker exclusive lenders to secure mortgages for professional landlords.
Mortgages for professional landlords used to mean lending to clients that derive their main source of income from property. More recently a professional landlord has been defined a person owning 4 or more properties either in a personal name or via a limited company.
One of the main implications of being a professional landlord is that lenders now require a considerably greater amount of paperwork. The extra due diligence required by buy to let lenders for mortgages for professional landlord includes; business plan, assets and liabilities statement, cash flow forecast and a detailed breakdown of your portfolio. All of which is rather time consuming but important to ensuring the lending is agreed.
Lending to professional landlords.
Lenders will assess your property portfolio looking at the overall loan to value as well as the debt service coverage ration (DSCR). Lenders need the rent to cover the mortgage payments typically by 140% at a notioanl rate of 5% although it varies from lender to lender.
The increased scrutiny and paperwork required has resulted in many more professional landlords turning to buy to let mortgage brokers to get their lending agreed.
Fox Davidson Professional Landlord Mortgage Broker
As an established professional buy to let mortgage broker, Fox Davidson have access across the Buy to let mortgage market. This is an attractive proposition for professional landlords as we can secure mortgages for professional landlords wishing to finance for many scenarios including:
- Portfolio’s ranging from several properties and with no maximum limit
- Auction Property
- Student Buy to Let’s
- Multiple flats under one freehold
- Re-mortgages within 6 months
- Mortgages for clients showing little or no taxable income
- Mortgages for property developers
Mortgages for Professional Landlords need to take account of each property including the type of property, the rental yield, type of tenant. We take the time to understand your current situation and will work with you to help you grow your property portfolio. We run a professional portfolio service for professional landlords.
Our team of buy to let mortgage brokers have many years’ experience in putting together finance packages secured across some of the UK’s largest property portfolios and we have secured terms not advertised on the high street.
Although each portfolio is different we can summarise the typical terms that we can secure for a professional landlord with a portfolio of 4 or more properties:
- A maximum of 80% loan to value
- Market leading rates due to our access across the market
- Low rent to loan calculations including top slicing from personal income
- Lending for refurbishment and development projects
To discuss mortgages for professional landlords and the service we offer please do get in touch. We look forward to working with you.
