Combined bridge + buy to let mortgage - new financing for portfolio landlords in 2018?
The buy to let mortgage market can be complex to navigate as new products and combinations of products are being launched all the time. Deciphering which product is best suited to your purposes can be challenging and is best handled with the help of a professional.
For instance, UX Mortgages has recently announced a combined initiative with Tiuta, who provide bridging loans. Together, UX and Tiuta have joined forces and created a financing solution for portfolio landlords and investors who need funds quickly to make purchases.
The bridging loan + buy to let mortgage combo has a joint application and underwriting process with the bridging loan part guaranteed to transfer into a remortgage over the longer-term.
The combination could be the start of a new trend in 2018 as landlords seek to save money on interest repayments as well as be secure in the knowledge that their mortgage applications will be approved for the foreseeable future.
To discuss your lending requirements in further detail, contact Deal Direct.
We are regulated to offer independent mortgage advice; however, we are not regulated to offer general financial advice. If you want to discuss the suitability of a property as an investment, you will need to contact an independent financial adviser.
Buy to let mortgage applications from:
- applicants whose intention is to benefit from house price growth
- applicants whose intention is to benefit from rental income
- applicants who are letting to buy
will be treated as a normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.