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Mortgage – Desk Personalised Service Variety of financing option
Wide access to the finance market BTL/Commercial/Residential Financing – England, Scotland, Wales John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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2 Year Fixed Rates Starting From…as of 6.5.2019
Property Type Ownership Value Loan to value Mortgage Type Monthly interest rates starting from Monthly Mortgage Payments Buy To Let - Remortgage Personal name £150,000 75% Interest Only (Term 25 Years) 1.67% (APRC 3.87%) £158 Buy To Let – Single- Purchase Limited Company 2.49% (APRC 5.83%) £233 Buy to Let - HMO £250,000 Interest Only (Term 25 Years 2.79% (APRC 5.71%) £436 Main Residence – Remortgage Overall cost for comparison (APRC) Personal Name £500,000 Repayment (Term 25 Years) 1.48% (APRC 3.87%) £1496 John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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5 Year Fixed Rates Starting From …as of 6.5.2019
Property Type Ownership Value Loan to value Mortgage Type Monthly interest rates starting from Monthly Mortgage Payments Buy To Let - Remortgage Personal name £150,000 75% Interest Only (Term 25 Years) 3.16% (APRC 3.49%) 356 Buy To Let – Single - Purchase Limited Company 3.39% (APRC 5.55%) £318 Buy to Let – HMO - Remortgage £250,000 Interest Only (Term 25 Years 3.43% (APRC 5.14%) £536 Main Residence – Remortgage Overall cost for comparison (APRC) Personal Name £500,000 Repayment (Term 25 Years) 1.89% (APRC 3.87%) £1570 John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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The Age of Regulation April 2014: Mortgage Market Review (MMR) introduced residential mortgage regulation that will become the framework for landlord regulation Mar 2016: Mortgage Credit Directive introduced regulation on consumer buy to let April 2016: Stamp duty increase on 2nd & buy-to-let properties April 2017: Mortgage Interest Tax Relief Cuts begin Sept 2017: Tougher affordability checks for portfolio landlords John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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The Age of Regulation April 2018: The Private Rented Property minimum standard –majority of landlords must ensure their properties reach at least an EPC rating of E March 2019: The Homes (Fitness for Human Habitation)Act 2018 June 2019: Ban on letting fees in England Jan 2017: Tougher affordability tests on buy to let John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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Challenging Cases BTL Portfolio client – Purchase of 4 x London Properties – Portfolio landlord £2m+ BTL REM – first time landlord / non-home owner / low income/ default / 1m ownership BTL REM - portfolio client – Ex-La Maisonette with external balcony access. Refurbish / retain and Let – single family let…….Bridge – Let – single lender Main Residential - < 6months ownership / original inter-family purchase / interest only / age / annexe / self-employed John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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Why is now the right time for brokers to advise clients to remortgage?
Product innovation and change more rapid Don’t wait for fixed term to end or base rate to rise Reviewing finances regularly Future regulatory intervention Relationship building John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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AirBnb It’s important advisers ‘do what is right, not easy
Hosts have been welcoming guests into their homes via Airbnb since 2008 and the impact on the UK economy is growing. Last year, for example, Airbnb listings reached 168,000 in the UK and generated an estimated £3.46 billion boost to the economy from a combination of extra income for host households and increased visitor spending in local communities.1 While Airbnb has the potential to take a landlord’s rental business in a new and exciting direction, there’s often initial confusion amongst would-be hosts about whether their existing mortgage covers this type of short term letting. Source Paragon John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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AirBnb Can landlords use a standard buy-to-let mortgage to finance an Airbnb property? Landlords should always check with their lender before becoming an Airbnb host to make sure this is allowed under their mortgage conditions. Each lender offers a range of different mortgage products and not all products will allow customers to rent out their property on Airbnb. Likewise, if they’re searching for a new mortgage product, they should confirm their intentions for the property and clarify whether Airbnb lets are accepted. John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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AirBnb If Airbnb doesn’t work out, can landlords convert their mortgage back to a standard buy-to-let property Airbnb won’t work out in every case. Higher cleaning and support costs or more frequent voids may mean the economics are not attractive in practice. If this happens, some lenders, WILL, allow landlords to revert to letting on a more standard AST. John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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Lenders updates Magellan Home Loans announces closure to new business (13/03/19). Magellan will cease accepting new business with immediate effect. However, it will continue to honour unexpired mortgage offers, although these will not be extended or materially varied. Decisions in principle and applications in the pipeline will not be progressed any further. Mortgage applicants who have paid administration or valuation fees to Magellan but who have not received a mortgage offer will have those fees refunded. John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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Lenders updates Fleet sails back into the market
Fleet Mortgages has announced its return to the mortgage market with a new product range and a number of criteria enhancements. In January, Fleet withdrew its range while it waited for a new funding line to be made available. Fleet has now completed a new long-term funding deal, which will see it complete over £1bn in new lending, and is in further discussions with additional funders. As part of its relaunched range, Fleet is offering new products across all of its three core areas – standard, limited company, and HMO/multi-unit blocks with rates starting from 2.69% and a rental calculation of 125% at 5.5% for all taxpayers. Fleet is also offering free and discounted valuation products and stepped early repayment charges across its range. John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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Lenders updates Precise– reduced the minimum level of income from 25 to 21 years – mortgages available for landlords aged (First time buyers accepted but with a maximum age of 70 years) Product Transfer facility now available – subject to original source of funding Leeds – Change in HMO Lending options - Valuation processing time scales – up to 10 working days for return of the report and up to 5 working days to access report Axis Bank - Product Transfer facility now available Vida Home Loans - Experienced Landlords. A new 85% LTV option has been added for loans up to £250,000 subject to the property being outside the M25. John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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Brokers shout out Tax Calculations (SA302s) and corresponding Tax Year Overviews are no more than 18 months --latest Tax Calculations and Tax Year Overviews must be for tax year 2017/2018 Unsecured commitments – credit cards / loans / student loans / overdrafts Proof of rental income – banks statements rent v mortgage payments – 3 months Portfolio Spreadsheet – keep it updated Ltd Co lending – bank accounts in place before application. Is it an Assured Tenancy Agreement or a Guaranteed Rental Agreement (Rent to Rent) Source of deposit Why do you want more money ? Get all your Ducks in a line John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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Best Advice John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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Want To Protect Your Loved Ones?
Personal Cover Critical Illness Cover Income Protection Family Income Benefit Life Cover/ Mortgage Cover T R U S T S Business Cover Business Protection Key Persons Insurance Relevant Life John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages.
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Adams Corner, Oakfield Road
Contacting us Mortgage-Desk Adams Corner, Oakfield Road Aylesbury HP20 1LL Tel: / Mortgage-Desk is a trading style of J R Cox, authorised and regulated by the Financial Conduct Authority. Our FCA registration number is Mortgage-Desk’s permitted business is advising on and arranging mortgages and non-investment insurance contracts. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. Mortgage-Desk provide other services not regulated by the FCA John Robert Cox trading as Mortgage-Desk’ is authorised and regulated by The Financial Conduct Authority. The FCA does not regulate some forms of mortgages, including in most cases Buy To Let Mortgages. Any property used as security, which may include your home, may be repossessed if you do not keep up repayments on your mortgage.
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