SECOND CHARGE MORTGAGES
Precise Mortgages – LIMITED EDITION
NO EARLY REPAYMENT CHARGES across their second charge mortgages for a limited time only. Product range highlights include:
- Up to 85% LTV
- AVMs available up to 200k (loan amount)
- 6 x’s income
- Zero hour contracts can be considered from 6 months, including bank nurses (2nd income lower earner only)
- 1 year self employed
- Sole trader to limited company transitions treated as continuous employment
- Adverse counted for the last 12 months, historic ignored
- Unsecured loans with 12 months or less to run, will not be taken into account for affordability
We also have second charge mortgage lenders that can assist in difficult to place cases such as:
- Applications where the property is on the market
- Capital raising for purchasing property at auction
- Where the applicant has taken out a payday loan in last 12 months
ENQUIRE about our second charge mortgage options
RESIDENTIAL FIRST CHARGE MORTGAGES
Together Money – EXCLUSIVE
As a Together Plus partner, Brightstar have been given access to their 5 year fixed rate, prime plus residential mortgage range. Features and highlights include:
- Available for purchase and remortgage
- Minimum valuation £5ok (60% LTV)
- Terms up to 40 years, including lending into retirement (80 at maturity of mortgage)
- Maximum loan £500k (more by referral)
- Non-standard property construction, including ex-local flats over 4 floors
- Applicants that are employed/self-employed/zero hour contracts/retired/in receipt of benefits accepted
- Some adverse credit accepted with under £300 ignored and under £3k if satisfied
Precise Mortgages – CRITERIA ENHANCEMENT FOR LARGE LOANS
Features and highlights of this product range include:
- Large loans – up to £2m (60%)
- Interest only and part/part available, affordability assessed on an interest only basis
- Zero hour contracts can be considered from 6 months, including bank nurses (2nd income lower earner only
- 1 year self employed
- Trading year tax calculations accepted
- Sole trader to limited company transitions treated as continuous employment
We also have residential first charge mortgage lenders that can assist in difficult to place cases such as:
- Where the applicant has taken out a payday loan in last 12 months
- Cash gifted family deposits, including aunts and uncles
- An applicant with depreciating profits, the lender will take an average of the last 2 years (subject to a satisfactory explanation)
- 100% of pension contribution included with salary for affordability calculation
ENQUIRE about our residential first charge mortgage options
BUY-TO-LET MORTGAGES
Precise Mortgages – CRITERIA ENHANCEMENTS
Precise have lowered the minimum applicant age to 21. Here’s a reminder of the highlights of their product range:
- Limited company applications where shareholders are under 21 – there are no restrictions
- Licenced and unlicensed HMOs accepted (i.e. where the relevant local authority do not deem a licence is necessary and is not a mandatory HMO)
- HMO applicants with no experience accepted
- More than 1 kitchen and up to 8 bedrooms
- Student lets
- No min income required but must have earned disposable income to cover rent voids
Paragon – NEW PRODUCT RANGE
New 5 year fixed rates for non-portfolio products up to 80% LTV. Rates start from 3.59% (75% LTV). This product range is perfect for:
- Single self-contained units
- Expatriates
- Holiday lets
- Consumer buy-to-let customers (excluding expatriates)
- Landlords with up to 3 mortgaged properties
We also have buy-to-let lenders that can assist in difficult to place cases such as:
- Multi units where 1 is a HMO
- Re-mortgages where the rent currently received is higher than the valuer states and needs to be used for coverage
ENQUIRE about our buy-to-let mortgage options
