SECOND CHARGE MORTGAGES
NEW PRODUCT: Offering up to 85% LTV with rates from 4.20% (@65% LTV) with no ERCs. This product is available to employed and self-employed applicants with 1-year trading. Contractors are considered with income calculated at day rate x 5 x 48. This product also caters for applicants with historic adverse credit.
NEW PRODUCT: Residential 2nd charge mortgages up to 75% LTV with no loan to income calculations and are therefore based purely on affordability. The product caters for non-standard construction properties (if there are first charge mortgage options through conventional sources). Rates start at 3.99%
NEW PRODUCT: Buy-to-let for the self-employed: with no credit scoring, up to 6 x’s income, historical adverse considered. Also 50% of commission, bonus and regular overtime considered. Rates start at 6.49%
WHAT’S HOT AT BRIGHTSTAR? Due to LTV restrictions across most residential first charge mortgage lenders, we are seeing a rise in the number of enquiries at higher LTV bandings as we are able to access products up to 125% LTV on a 2nd or 3rd charge basis. This is registered as an equitable charge meaning no consent is required from the first charge lender and are also available with an AVM, both features allowing for a speedier completion. Contact our team on 01277 508 959 for full product information. LEARN MORE about equitable charges and the reasons our brokers are recommending them for their clients.
- Up to 125% LTV available for residential and 75% for buy-to-let properties.
- 2nd and 3rd charge options, some require no consent from the existing lender.
- Rates from 3.37%.
- Reduced credit score requirements on residential 2nd charge applications up to 95% LTV.
- Furlough income can be considered on a case by case basis (up to 80% of clients’ income to a maximum of £2,500/month plus evidenced employer top-up).
- For self-employed applicants – we can consider income via the self-employed income support scheme (SEIS), where this can be evidenced.
- Contractors considered with income calculated at day rate x 5 x 48
COMMERCIAL MORTGAGES & BUSINESS CASH-FLOW SOLUTIONS
NEW PRODUCT: Secured CBILS up to 70% LTV on commercial properties if the business has been affected by Covid-19. Rates from 2.5% +BBE. ALL FEES PAID including valuation, lenders legal and proc fees (normally added to the loan); on the average £250k loan size, this could save the client c£5k!
NEW PRODUCT: 75% LTV commercial / semi-commercial investment mortgages with rates starting at 3.5% inclusive.
NEW PRODUCT: Unsecured CBILS up to £250k with rates from 5%
WHAT’S HOT AT BRIGHTSTAR? Trading businesses are reporting that their landlord has offered the chance to purchase their business premises. Not only are they finding that the purchase price is generally lower than they expected, they are also finding that a mortgage is often proving to be more cost effective than their lease or rent. Contact our team on 01277 508 959 for more information on the available criteria.
- Access to high street lenders & market-leading rates from 2.5% + BBR. LTVs available up to 75%.
- Capital raising is still available with a suitable explanation for use of funds.
- Unsecured business loans with rates starting at 5.9% p.a. and loans up to £250k, providing vital funds to support your client’s business needs.
- No upper loan limits, with all cases considered on individual merits.
SPECIALIST RESIDENTIAL MORTGAGES
WHAT’S HOT AT BRIGHTSTAR? Specialist purchase / remortgage with rates from 1.47% Contact our team on 01277 508 959 for more information on the available criteria.
WHAT’S HOT AT BRIGHTSTAR? Help to buy for those with specialist lending requirements. Our limited availability, semi-exclusive considers applicants with adverse credit events including bankruptcy and those in current IVA’s. Contact our team on 01277 508 959 for more information on the available criteria.
NEW: 75% LTV for self-employed applicants no credit scoring, and this lender will ignore any adverse over 12 months old (up to £15k combined total).
NEW: 90% LTV for purchases. Available to first time buyers for loans up to £350k in selected postcodes: DL, TS, DH, YO, SR & HG
- Up to 95% LTV on the family assist scheme, 85% LTV for regular purchase and remortgage applications.
- Rates from 1.47%.
- Up to 6 x income (newly qualified professionals).
- Furloughed employees considered at full LTV.
- We have lenders who are willing to consider applicants who have taken payment holidays on their existing mortgage.
- Options are also available for clients with missed mortgage payments up to 75% LTV (purchase & re-mortgage).
- Clients with adverse credit can still be helped. Call us to discuss individual circumstances.
COMPLEX BUY-TO-LET MORTGAGES
NEW PRODUCT: 80% LTV for standard BTL properties now available with 2- & 5-year fixed rates starting from 4.29%. This product range is available to limited companies and individuals.
NEW SEMI-EXCLUSIVE, LIMITED EDITION: 75% LTV for standard BTL properties with 2 & 5-year fixed rates starting from 3.89%. This product comes with no lender or valuation fees.
NEW PRODUCT: Property investor credit facility (PICF). The PICF is a revolving credit facility that allows property investors to draw (and repay) funds secured against their property portfolio. Investors can secure against multiple properties in their portfolio (both on a first and second charge basis) up to maximum LTV of 70%
WHAT’S HOT AT BRIGHTSTAR? We have a 5-year fixed product with 2-year ERC’s, allowing the client to either sell or refinance after 2 years. In some instances, the lender may allow the client to sell some of the properties within the development without penalty if the LTV is not affected. Contact our team on 01277 508 959 for more information on the available criteria.
WHAT’S HOT AT BRIGHTSTAR? HMO’s Max LTV 75% and mortgages up to £5m. We can help first time landlords, SPVs, Ltd Co’s, trusts, LLPs with properties up to 20 beds (more by exception). Properties can be MUFB, HMO, commercial and let to students/DSS as well as professionals. Day 1 re-mortgages also available at full market value from initial conversion. Contact our team on 01277 508 959 for more information on the available criteria.
- Up to 80% LTV (75% LTV with no credit scoring)
- Rates from 2.69%
- 5 year product available with a 2 year ERC
- Ex-pat BTL available up to 75% LTV. Rates available from 2.74%.
- Portfolio finance – single loan facilities available up to 75% LTV (full valuation required).
- Desktop valuations can be used up to 65% LTV.
- Options available to first time landlords looking to invest in property.
- Bespoke products for loan sizes of £5+.
BRIDGING & DEVELOPMENT FINANCE
WHAT’S HOT AT BRIGHTSTAR? Heavy refurbishment projects now that lenders have returned with an appetite for this type of lending. We can assist with rates from 0.75% PCM and a max LTV of 70%, light refurb products are available up to 75% LTV
NEW PRODUCT: Minimum advance now from £25k with rates from 0.99% per month. Loans from £50k with 0.79%
- Up to 75% LTV on a case by case basis. Up to 100% LTV with additional security.
- Short term lending solutions available on either a 1st charge or 2nd charge basis on residential/commercial/semi-commercial properties and land (with or without planning permission).
- Rates starting from 0.42% per month.
- No upper loan limits, with all cases considered on individual merits.
FOR INTERMEDIARY USE ONLY AND NOT INTENDED FOR THE GENERAL PUBLIC
*Please be aware: interest rates and LTVs may vary dependant on case specifics.