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THE LATEST SPECIALIST LENDING CRITERIA ENHANCEMENTS AND EXCLUSIVE PRODUCT RANGES

February 2019

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