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Deal of the Week – £200,000 borrowing from £850 rental income

Challenge 3mc – Your specialist intermediary mortgage desk

 

Each week we will provide a worked example for a case from the previous week detailing the information provided by the intermediary for a specialist deal along with the end result.

In this example the 3mc mortgage desk took an enquiry from an intermediary based in Bristol. The client was looking to remortgage a Buy to Let property to purchase another 3 BTL properties. The client had been self employed for 11 months. In addition the client required a BTL product where the rental was based on the pay rate and not at 5.5%. The monthly rental income was £850 per month and the client required £200,000 on a value of £270,000.

Following extensive research including using the compare criteria from the 3mc website the deal was placed with Foundation Homeloans. The product was the packager exclusive 3.49% 5 year fixed rate with a 2% completion fee.

New Residential & BTL Exclusives Available Via 3mc

Below we have highlighted 10 different packager exclusive products available for both Residential and Buy to Let products. The available products include the following criteria:-

  • 90% LTV with communication Defaults within the last 12 months
  • 85% LTV with DMP’s
  • 80% LTV 5 Yr Fixed – Best affordability in the UK
  • 80% LTV with 5 Defaults & 3 CCJ’s in the last 24 months
  • 75% LTV HMO with flat product fees
  • 75% LTV BTL with rental from 125% @ 3.49%

The products are showing under 3mc on all major sourcing systems.

For further information click on the below links.

          

  • Exclusive Packager Distribution
  • Communication Defaults ignored
  • Available to 90%
  • Click here for further information
          

  • Exclusive Packager Distribution
  • 5 Defaults & 3 CCJ’s considered in the last 24 months
  • Available to 80% LTV
  • Click here for further information
          

  • 5% Higher LTV than the residential core range
  • Available on Vida 3,4,5 & 6
  • Click here for further information
          

  • Best affordability product in the UK
  • Available up to 80% LTV
  • 3.14% 5 Yr Fixed Rate
  • Click here for further information
          

  • Exclusive Packager Distribution
  • Communication Defaults ignored
  • Available to 85% – Lower revert rate resulting in maximum affordability
  • Click here for further information
          

  • Exclusive Packager Distribution
  • Residential 5 yr fixed rates with affordability based on initial rate
  • Available to 85% LTV
  • Click here for further information
          

  • Multi tenanted & HMO’s to 8 beds
  • 2 yr fixed @ 3.74% with £1,995 product fee
  • Click here for further information
          

  • Exclusive Packager Distribution
  • BTL with rental from 125% @ 3.49%
  • Available for Ltd Co’s & individuals
  • Click here for further information
          

  • Exclusive Packager Distribution BTL
  • Communication Defaults ignored
  • Up to 6 Bed HMO & 4 units 1 title
  • Click here for further information
          

  • Landlords with less than perfect credit profiles
  • 1 yr fixed from 3.69% with £300 cashback
  • For Limited Companies & Individuals
  • Click here for further information