Reply to: Let to Buy re-mortgage deals

[simes]

Grief yes, take it.

Even if you (OP) were to find a deal that shaves 0.1% off the deal, you'd pay for it by way of the one-off payment for the new deal with the new lender.

[Lance]

The property is already on BTL mortgage and is now coming to the end of the fixed term.

Existing lender is offering renewal at 1.69% for 2 years. Just wanted to know if there are better deals around before having to go through the whole process of registering with a broker, filling in pages of forms, provide KYC document only to end up them telling me the best offer is about the same as what I already have.

take it.
That's really good for a BTL mortgage.
In fact that's really good for any mortgage.

[luxCon]

I assume you don't have an existing mortgage then and can't apply for a consent to let?

The property is already on BTL mortgage and is now coming to the end of the fixed term.

Existing lender is offering renewal at 1.69% for 2 years. Just wanted to know if there are better deals around before having to go through the whole process of registering with a broker, filling in pages of forms, provide KYC document only to end up them telling me the best offer is about the same as what I already have.

[courtg9000]

Couple of points on this one.
1. Let to buy is a thing moreover known as rent to buy. OP might need the mortgage for the purpose.
2. Pendantics aside. You really should never go direct with mortgages unless it is to an existing provider. Use a broker first. The deep levels of credit checking will show on your record and affect what credit you can get in the 6-9 month term.
3. Try Shawbrooks if you must go direct YMMV.

[northernladuk]

Thanks, Will follow up

And it only took 16 post before a sensible reply !!

And for those who find the "Let to Buy" term rather amusing, it is a class of BLT mortgages, directed at people who already own a property they live in, but then decide to let it and remortgage on a letting mortgage. Some lenders treat Let to Buy differently to BLT.

I assume you don't have an existing mortgage then and can't apply for a consent to let?

[Lance]

I know. You're being a bit special.

I was giving a speculative answer to your question

been to pub.... It's Friday....

[ladymuck]

no. NLUK

I know. You're being a bit special.

I was giving a speculative answer to your question

[Lance]

person b isn't you?

no. NLUK

[ladymuck]

result.

Person A says to look at a mortgage aggregator. You say that's not helpful but don't bother checking. And then go on a block fest like a child.
Person B says to talk to a mortgage advisor. You say that is helpful.

The only difference between them is what exactly?

person b isn't you?

[Lance]

Thanks, Will follow up

And it only took 16 post before a sensible reply !!

And for those who find the "Let to Buy" term rather amusing, it is a class of BLT mortgages, directed at people who already own a property they live in, but then decide to let it and remortgage on a letting mortgage. Some lenders treat Let to Buy differently to BLT.

result.

Person A says to look at a mortgage aggregator. You say that's not helpful but don't bother checking. And then go on a block fest like a child.
Person B says to talk to a mortgage advisor. You say that is helpful.

The only difference between them is what exactly?

[luxCon]

If I could be of help, having a few such types on my Ignore list.

Click on your name, go to Edit Settings, then Account tab, head to the bottom and you can add all the names you wish.

It provides for a quieter day, to be sure.

Great. Wished it was easier to find.

[luxCon]

Back to the point. I have BTL's i've renewed recently and being a contractor made no difference as I am not borrowing against my income, more on the possible rent of the property. Being a contractor is a red herring here I think so it's back to normal methods of looking for them.

Birmingham Midshires was the best for me at the time but it's only available through a broker. Freelancer Financials sorted mine for me and often deal with contractors with a personal and BTL mortgages.

Costs you nothing to speak to a broker so I'd recommend Freelancers for a call before you waste a ton of time on the web.

Thanks, Will follow up

And it only took 16 post before a sensible reply !!

And for those who find the "Let to Buy" term rather amusing, it is a class of BLT mortgages, directed at people who already own a property they live in, but then decide to let it and remortgage on a letting mortgage. Some lenders treat Let to Buy differently to BLT.

[northernladuk]

Back to the point. I have BTL's i've renewed recently and being a contractor made no difference as I am not borrowing against my income, more on the possible rent of the property. Being a contractor is a red herring here I think so it's back to normal methods of looking for them.

Birmingham Midshires was the best for me at the time but it's only available through a broker. Freelancer Financials sorted mine for me and often deal with contractors with a personal and BTL mortgages.

Costs you nothing to speak to a broker so I'd recommend Freelancers for a call before you waste a ton of time on the web.

[simes]

A useful post providing helpful and accurate information. Only took 1,092. Getting there slowly.

Lovely, very good.

Bet I will get there before the 10,000 it'll take you...

[Lance]

If I could be of help, having a few such types on my Ignore list.

Click on your name, go to Edit Settings, then Account tab, head to the bottom and you can add all the names you wish.

It provides for a quieter day, to be sure.

A useful post providing helpful and accurate information. Only took 1,092. Getting there slowly.