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Let to Buy Mortgages
Capital Fortune are experts in helping with Let to Buy Mortgages. They are an alternative to buy to let, allowing you to buy a new property to live in while you rent out your current property.
We work with lenders who may not take into consideration your current mortgage payments for affordability, if the expected rent covers them. This often means you can borrow significantly more for a new purchase.
Let to Buy is especially useful for individuals who are re-locating and wish to let out their current property. We can sometimes help before an onward purchase is found.
Clients often tell us of their annoyance at a range of different application criteria and want to understand if they qualify for a Let to Buy. We can help clients with complex income streams or even applicants with no other income, separate to the future rental income. We further work with lenders who don’t have a maximum age.
More recently, clients have told us that higher interest rates mean they can’t borrow as much as they require, given the lender ‘rental stress test.’ We work with lenders who are much flexible on this stress test and can even consider using your personal income, allowing you to borrow more.
Along with helping first time landlords, recent regulatory changes have made it more difficult for ‘Portfolio Landlords,’ who own multiple properties to obtain mortgages. We are often told they are turned away from many of the mainstream lenders or face further hurdles, given their background properties. We work with lenders who have no restrictions on the number properties you own.
If you are a looking for a Let to Buy mortgage, contact us today!
Whatever your financial plans are, making sure any mortgage you apply for is cost-effective and affordable is a high priority. This is especially the case with let to buy mortgages, as researching local rental prices and calculating the size of mortgage payments you can afford is important to avoid missed payments or other budgeting problems.
We carry out a detailed fact find with each of our clients to establish what size mortgage payment they can afford, based on their income, current debt and the rates on let to buy mortgages available. As an experienced professional group of advisers, we pride ourselves on finding the right mortgages from the right lenders at the right rates for all our clients. Maintaining the highest levels of client satisfaction and giving you support from start to finish of any mortgage application is our priority.
As you would expect with an award winning company, all our finance is arranged through fully authorised, regulated mortgage lenders, whom can offer Capital Fortune, exclusive products and rates.
As a comprehensive panel of lenders broker in this area, we know our lenders and lending criteria. Importantly, we appreciate the ambiguities and difficulties in this area of UK lending and work to provide an appropriate solution. We regularly assist clients with mainstream and complex finance and we are UK specialists in arranging mortgages for clients with non standard requirements.
We have been voted the Overall Adviser of the Year for the largest UK mortgage and protection network, two years in a row and have recently won a national industry award for Excellence in Treating Customers Fairly. A number of our clients watched us on BBC TV Newsnight and supported our shortlist nomination for Best Broker Prime and Best UK Mortgage Adviser at the prestigious Money Marketing Financial Services Awards and British Mortgage Awards respectively.
There are three stages to our award winning process:
1 | Indicative Rate |
Typically clients using the service, tell us they want to discuss their current situation and take us through any difficulties they may have. We can quickly give an indication as to the feasibility of what they are looking to do, undertake detailed research on the potential rates, confirm we can safely assist and importantly, express how we operate. | |
2 | Approval in Principle |
This stage involves completing a 45 minute Mortgage Fact Find questionnaire over the phone to fully assess needs and requirements. Once complete, we undertake research across a comprehensive panel of lenders to recommend the right mortgage. A detailed illustration is provided which we will take you through. If you are happy with the illustration we will then request documents from you to support the application. On receipt of the documents we will obtain formal approval in principle from the lender. | |
3 | Full Application |
We will process your full mortgage application and liaise directly with the lender on your behalf. We organise the valuation and deal with any issues that may arise during the mortgage application. |
We still appreciate however, we are not right for everyone and typically we best assist clients
- With non-standard/non-traditional requirements;
- That are time pressed and need the most competitive and quick results; or
- That just need an independent guiding hand through the minefield of products to obtain them the most competitive deal and to assist them through all the complexities within the mortgage process.
We pride ourselves on delivering advice which is accurate, tailored to your situation and fully compliant with Financial Conduct Authority (FCA) guidelines and best practice.
For help and assistance, call us today on 0207 710 0400 to speak to one of our Mortgage Advisers.
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Commercial Mortgages and some forms of Part Commercial & Buy to Let mortgages are not regulated.
In assessing your requirements, we do not use credit scoring and we can provide an accurate estimate of the amount of borrowing and the viability of your requirements, without effecting your credit score.
We avoid credit searches at the initial stages given that numerous credit searches will impact your ability to access cheap credit. It is clear that too many credit applications in a short period of time will impact your score and whilst it is important to shop around, formal applications for a mortgage can trigger rejections, as it gives the impression you may be desperate for credit. It is essential when making enquiries for any financial product, that the Company does not credit score you, until such time as you have agreed to make a formal application.
We can indicate your chances of approval prior to any application being made and where necessary, can obtain decisions in principle from lenders who do not use credit scoring.
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