Why Are Lenders Hesitant About Holiday Lets? Firstly, if you want to buy or remortgage a property that is let as a holiday let or via a site such as Airbnb then you can. However, if you are then it is worth trying to understand why some lenders are hesitant about mortgaging a holiday let.
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How to borrow more on your buy to let Interest rates have gone up, the cost of your buy to let mortgage is higher, you can’t borrow as much as you once could and you can no longer finance the new purchase or refinance that mortgage where the fixed rate has expired. Wrong. Buy to
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Rising Interest Rates – Why Cost is NOT the big issue The biggest problem with rising interest rates is not that it increases the cost of your finance. Let that sink in… The biggest issue with rising interest rates is not that it will increase the cost of your finance but that it changes the
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How To Mortgage a Holiday Let For mortgage purposes a holiday let is a property that is not your main residence, is not let out on a standard AST and is let for a short period by different occupants across the year. Holiday lets are an increasingly popular option for property investors, research by Suffolk
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Non Standard Construction We see this question all the time from lenders, ‘is the property of standard construction?’. Which begs the question of what is standard construction and what will standard construction be going forward? Plus, how do I mortgage a property that isn’t of standard construction? The key point here is that construction of
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The EPC Challenge Facing Buy To Let In 2015 the government introduced the Minimum Energy Efficiency Standard (MEES) requiring landlords to ensure that by 2025 all newly rented properties reach an Energy Performance Certificate (EPC) rating of C or above. This will extend to all rental properties by 2028. The big question is around how
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The Mortgage Arrears Dilemma A recent report highlighted the increase in severe mortgage arrears had increased 16% from Q2 2020 through Q2 2021. Severe mortgage arrears are those loans where the arrears balance is between 2.5% and 5% of the loan total. Buy to let mortgage arrears in the same category have increased 134% in
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IR35 & Property Investment Since April 2021 HMRC introduced changes to IR35. This meant that all public sector clients and medium or large-sized clients outside the public sector became responsible for deciding on the worker’s employment status. This meant that many contractors and freelancers who were IR35 now became employees with their client now being
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