BTL Cash Injection for Landlords
The 2008 global financial crisis led to the demise of a number of niche BTL lenders, notably:
- GMAC-RFC
- SPML
- Mortgage Express
- Igroup
- Edeus
- Bristol & West
- Rooftop
- UCB Homeloans
- Money Partners
- Preferred Mortgages
- Victoria Mortgages
- Unity Homeloans
- Capital Home Loans (CHL)
Some of these lenders were offering 90% LTV BTL mortgages at 100% rental calculation. Fast-forward to 2015 and we are now seeing the return of niche boutiques with a particular emphasis on BTL and HMO mortgages. So who are the new lenders?
- Axis Bank UK: Residential and BTL mortgages
- Foundation Home Loans: BTL mortgages only up to 75% LTV.
- Pepper: Residential & BTL mortgages
- Fleet Mortgages: BTL mortgages only. Will lend on HMOs and Ltd Companies and will lend up to 80% LTV
Unfortunately, you won’t find these lenders on your local high street, nor will you be able to access their products via any old broker. The lenders have signed exclusive arrangements with a select panel of mortgage brokers.
If you are a landlord looking for new financing avenues to expand your BTL portfolio or need to release extra cash to modernise your existing properties or you simply cannot pass the main stream lenders criteria then these new lenders may provide an alternative funding solution.
