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Complex buy-to-let mortgages are medium to long term products designed to support both new and experienced landlords.
Complex buy-to-let mortgages are medium to long term products designed to support both new and experienced landlords.
Complex buy-to-let mortgages are medium to long term products designed to support both new and experienced landlords. They can be used by property investors making their first moves into the buy-to-let market, or by those who are expanding an existing portfolio.
Our mortgages bring our bridging speed and flexibility to the buy-to-let market. By embracing these aspects of our process, we can provide access to funding for landlords who may be facing difficult or unusual circumstances.
Our flexible buy-to-let mortgages are assessed similarly to how our bridging products are. After contacting us, you’ll be assigned an underwriter who will review your background to determine your eligibility. Regardless of your circumstances, you’ll be able to apply for an interest-only buy-to-let mortgage if you have a 25% deposit as a minimum.
We follow a simple 5-step process. Once we’ve received a few initial details, we’ll issue indicative terms, followed by the issuing of a decision in principle, once certain documentation is attained. A valuation will then be conducted, while solicitors get the legal ball rolling. Finally, once everything is agreed and aligned, you can drawdown the loan.
Our complex buy-to-let mortgages can cover multiple types of investments. This includes individual properties, multi-unit freehold blocks, houses in multiple occupation (HMOs) and more.
We’re happy to work with expats, foreign nationals, trusts, offshore companies, and those with impaired credit.
Here at MFS, our flexible buy-to-let mortgages are available from £150k to £10m, with a maximum gross LTV of 75%.
Visit our website for more information and to contact one of the team.
We launched our complex buy-to-let mortgage to provide the market with the flexible finance it needs. Our flexible buy-to-let mortgages have a 5-year term with low Early Repayment Charges (ERC) for the first 2 years, and no ERCs at all in the final years.
We pride ourselves on our ability to look at complex circumstances and make them simple. We do this by employing a bespoke approach to our BTL mortgages and expert underwriting to each and every case, with the same contactable underwriter from enquiry to completion. We do not adhere to tick-box criteria and will always look for ways to lend, rather than looking for ways to say no.
We are the only lender to roll and defer interest to maximise the loan size, and we don’t penalise higher rate tax payers – utilising 130% ICR across the board.
Our complex buy-to-let mortgages can cover:
A BTL mortgage is an investment mortgage on a property that the owner lets out to a 3rd party in return for rental income. Typical 3rd parties include a single person, a family, unrelated groups (e.g. students, several tenants each renting a room), a short term let like an AirBnB, or a corporate let where a company leases a flat for visiting staff or a local authority to let out to those requiring a home.
Most buy-to-let mortgages are interest-only; meaning you pay monthly interest on the amount. However, this does mean that the capital borrowed at the start needs to be paid off at the end of the term either with the sale of the property, using savings to pay off the debt, taking a retention deal, or re-mortgaging with another lender.
There are a few fees you will need to be aware of when arranging a flexible buy-to-let mortgage with MFS:
Regardless of your circumstances you can apply for BTL finance if you have at least 25% deposit. However, it’s important to find a mortgage lender that considers your specific needs.
Our products have up to four tiers to suit a range of requirements. Find all details and applicable products to you.
Alternatively, call our mortgage team who are on hand to discuss your requirements and find the product which works best for you.
Our complex buy-to-let mortgage does cater for clients with adverse credit, which means we can take the below issues into consideration when assessing the application:
Our fixed-rate and tracker mortgages are interest-only. However, we do offer deferral of up to 2% and/or roll-up of up to 9 months of payments in order to boost loan sizes and provide flexibility.
The deposit needed will depend on your loan-to-value. Our maximum loan-to-value is 75% (for our Solutions BTL & Specialist BTL) and 70% (for our bespoke level). This means the minimum deposit you will require will be 25% of your property’s value.
Of course. Whether you are looking to re-mortgage from a different provider, exit another finance solution such as a bridging loan, or apply for another flexible buy-to-let mortgage from MFS, we will assess your application and provide you the finance you need.
You can, however this will depend on your intended use for the property. Your finance provider may allow you to move to a ‘consent to let’ agreement. However some lenders require you to take out a new mortgage on the property to move it from a residential to a buy-to-let. You will also need to ensure your asset is compliant with your local council’s buy-to-let rules and regulations if you are changing the use of the property.
Not sure how to find these? Visit gov.uk for more information.