Quantum Mortgages

Mortgage Type

Specialist BTL/Commercial

Property Value (min)

Single Unit / MUB & HMO Range £125,000
Specialist Range £70,000

Advance (min)

Single Unit / MUB & HMO Minimum loan: £100,000
£25,001 on Specialist products and ex pat's

Advance (max)

Single Unit / MUB & HMO range £1.5m - 75% LTV - see below.

Specialist Range £1,000,000 unless:

Max loan for single unit range increased from £1.5M to £2M at 65% LTV (in southern postcodes only).
Max loan for multi-unit range increased from £1.5M to £2M at 65% LTV (in southern postcodes only).
Max loan for multi-unit range increased from £1M to £1.5M at 75% LTV (in Southern postcodes only).
Max Loan for Ex Pat range increased from £500k to £750k & £1M (in Southern postcodes only).

Term (Max)

40 years

Minimum Age

21 years

Maximum Age

Single Unit, MUB / HM0 85 years Specialist Range – NO maximum age

Family Cash Gift Deposit

Yes, any family member.

Family Gift of Equity Deposit

Yes, any family member.

Income (min)

No min income for UK applicants
Foreign National or Expat need min income of £35k GBP equivalent

Restrictions

12 months ownership of x 1 BTL – Specialist range 2 BTL’s fo 2 years

We do not allow any restrictions on properties including agricultural.

Can consider the following: -

Flats including studios below 30sqm, New build flats, Ex local authority flats with deck access up to 12 floors, High Rise, MUB, HMO, Holiday Lets, Airbnb, Semi Commercial Units, BTL investor led developments, properties located above or adjacent to commercial except petrol stations and hazardous industrial units including food or alcohol.

Background Portfolio Mortgage Verification:
- Mortgage verification requirement reduced to 50% of the overall portfolio.
- In cases where conduct of 50% of mortgages cannot be obtained via CAIS or open banking, up to 4 mortgages will be selected at random, and statements for these 4 mortgage accounts will be requested.

Let to Buy (Turning Residential into Buy to Let)

No

DWP Tenants

Yes – please note the AST must be in the tenants name.

Student Lets

Yes

Ex-Local Authority Properties

Standard Range:
- The expiry of any pre-emption period
- Maximum of 5 floors
- At least 50% of the block is owner occupied
- A minimum value of £200,000
- No deck access
- Valuer to confirm the property is suitable security and, in an area, where demand for this type of property is not falling

Specialist Range:
Deck Access Flats
Ex local Authority houses and flats where the area owner occupation is less than 50%
Ex local Authority flats valued below £200,000 (subject to minimum £100,000)
Ex local Authority flats over 5 floors up to a maximum of 12 floors

Ex local authority flats with deck access up to 12 floors, High Rise, BTL investor led developments, properties located above or adjacent to commercial except petrol stations and hazardous industrial units including food or alcohol.

Minimum years remaining on leasehold property

Min year remaining at the end of the term is 35 years

Minimum Ownership

Can consider less than 6 months ownership.

12 months ownership of x 1 BTL – Specialist range 2 BTL’s for 2 years.

Also: -

- Single Unit / MUB & HMO upto 6 units, Expat & Foreign Nationals - 1 BTL for 12 months - 0 required for lower LTV's
- Specialist Range - 2 BTL’s for a min of 24 months ownership
- DO NOT have to be owner occupier.

Permanent rights to reside and remain

Yes, unless Ex Pat or Foreign national

Ex-Patriates

Yes - for higher LTV's 1 current BTL property required, for lower LTV's, none is considered.

New Builds

Yes, houses and flats

Credit Score

No, credit check with Experian. Soft search

Rental Calculation

Basic Rate Tax Payer 125%,

Higher Rate 145%, Limited Company 125%

£ for £ remortgage none

Historic CCJ’s & Defaults

We can accept x 2 maximum CCJ’s or Defaults, they need to be under the value of £500 and satisfied in full with an explanation of why they occurred

Valuation Fees

Paid direct to lender at the lenders fee scales, found on both the lender website and product guide.

Maximum number of applicants

4 for individual and 4 limited company directors

Countries

England, Scotland, Wales and consider Northern Ireland

Countries Any country with a Basel AML risk score below 6 where the applicant is based

Access

Access to Quantum Mortgages is direct to lender with 3mc as your mortgage packager as well as direct as a mortgage club.

Regulated BTLs

No

Missed mortgage payments

None in the most recent 12 months, 1 in 24 months. The mortgage must be up to date now with an explanation of the missed payment Late or missed payments considered with reasonable explanation. Refer

Property Type / Commercial

Flats including studios below 30sqm, New build flats, Ex local authority flats with deck access up to 12 floors, High Rise, MUB, HMO, Holiday Lets, Airbnb, Semi Commercial Units, BTL investor led developments, properties located above or adjacent to commercial except petrol stations and hazardous industrial units including food or alcohol

Acceptable property types in Northern Ireland - Freehold HMO and Multi Units up to 6 beds.

Location

England, Scotland, Wales and consider Northern Ireland

Type of Credit Search conducted at AIP stage

Soft, Experian

Condition

Must be liveable on day 1 of completion.

Portfolio Landlords

Portfolio Landlords Accepted

Background Portfolio Requirements (Example)

– No maximum LTV for the overall portfolio
– Portfolio stressed at 100% @ 5%

Portfolio Landlord Criteria (Example)

– Up to 20 mortgages with Quantum Mortgages to an aggregate borrowing of £5m
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements (Example)

– Portfolio Schedule – Yes in the clients own format