Quantum Mortgages

Mortgage Type

Buy To Let

Property 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
75% LTV in the south east is currently £1,000,000

Term (Max)

40 years

Minimum Age

21 years

Maximum Age

85 years

Family 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 expats

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

Let to Buy (Turning Residential into Buy to Let)

No

DWP Tenants

Yes – AST must be in the tenant’s name

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.

Minimum years remaining on leasehold property

35 years remaining at the end of the term

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 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 Experian

Rental 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 expalantion

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 individuals or limited company directors

Countries

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 30sqm
New 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