Quantum Mortgages
Mortgage Type
Buy To LetProperty Value (min)
Single Unit, MUB/HMO £125,000
Specialist Range £70,000
Advance (min)
Single Unit, MUB/HMO £100,000
Specialist Range £25,001 and Ex Pat
Advance (max)
Single Unit, MUB/HMO £1,500,000
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 yearsMinimum Age
21 yearsMaximum Age
85 yearsFamily Cash Gift Deposit
Yes, any family member.Family Gift of Equity Deposit
Yes, any family member.Income (min)
None for UK applicants - £35k GBP equivalent for foreign nationals and expatsRestrictions
12 months ownership of x 1 BTL – Specialist range 2 BTL’s fo 2 yearsWe 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
Let to Buy (Turning Residential into Buy to Let)
NoDWP Tenants
Yes – AST must be in the tenant’s nameEx-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.
Minimum years remaining on leasehold property
35 years remaining at the end of the termMinimum 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 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, required unless Ex Pat or Foreign national.Ex-Patriates
Yes, and foreign nationals.New Builds
Yes, both flats and houses.Credit Score
No, just credit check with ExperianRental Calculation
Basic Rate Tax Payer 125%,
Higher Rate 145%
Limited Company 125%
£ for £ remortgage none
Historic CCJ’s & Defaults
Max x 2, must be satisfied and under £500 with an expalantionValuation Fees
Paid direct to lender at the lenders fee scales, found on both the lender website and product guide.Maximum number of applicants
4 individuals or limited company directorsCountries
England, Scotland, Wales and Northern Ireland (Considered)Access
Access to Quantum Mortgages is direct to lender with 3mc as your mortgage packager as well as direct as a mortgage club.Property Type / Commercial
Flats including studios below 30sqmNew build flats
Ex local authority flats with deck access up to 12 floors
High Rise
MUB, HMO (Northern Ireland is 6 bed)
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.
Location
England, Scotland, Wales and Northern Ireland (Considered).Any country with a Basel AML risk score below 6 where the applicant is based
Condition
Must be livable on day 1 of completion. Minor works needed, refer.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