Up to 30 BTL mortgages One application One flat fee
Posted on 9th June 2023 at 11:49
We can provide our Clients with access to a BTL multi property application that caters for 2-30 properties on the one application, which also has a variety of fee options including, no fee option, % fee as well as ONE flat fee.
It can be used on bulk purchase (refer for guidance on this), bulk incorporation or bulk re-mortgage.
As an example the currently offered 2 year discount deal at 5.88%, has ONE flat fee of £1999 across 30 units. (correct at time of publishing).
Up to 30 units on the one application
2 year discount with option to switch to a fix at any point during the 2 years ERC free
Free valuation on all standard purchases including bulk incorporation as well as re-mortgage
Free standard legal fees on all re-mortgages in personal name and Fees assist in Limited Company Name re-mortgage
Personal Guarantee costs for Ltd Co Directors are paid once per application per director. NOT per property.
Rental calculated across the range of properties being mortgaged
Case Study remortgage of 10 BTLs
Client requirements – 2 Year tie in, low fees, one direct debit and interest only as long as possible. 2 Directors in the Company
The product had a £1999 completion fee – the lender only charged it once. (In this example 10 properties on separate applications would result in £19990 in completion fees.) ...... A saving of £17,991
Clients now benefit from free valuation on purchase or remortgage on standard properties- This also includes incorporation from personal to Limited Company! Previously the client would have incurred £5500 in fees. They would pay no fees at all saving the full £5500. As it was a Ltd Co deal the director has personal guarantees to pay at £250+VAT per director (including legal advice). With 10 properties split across multiple lenders / applications this would have incurred £250+vat x each director (£500+VAT per application) x 10 properties = £5000+vat. Instead, the lender charged it once at £500+vat saving the client £4500.
In addition, the lender also charges no upfront booking fee and they asked for NO proof of income over a 40 year term on interest only.
It's worth noting that the lenders 2 year deals do have higher stress rates. The 5 year fixed options are also available which offer lower ICR.
Another solution which our Clients have access to via the team of professional mortgage specialists at H D Consultants.
Want to know more? Send us your details in the enquiry form below and we will call you back.
Share this post:
