HELP TO BUY (HTB) NEW BUILD MORTGAGE

HELP TO BUY (HTB) NEW BUILD MORTGAGE

HELP TO BUY (HTB) NEW BUILD MORTGAGE – Just had a delighted client on the phone, after we emailed her , her copy of her mortgage offer.  She had been to the house builders nominated mortgage advisor, who after 3 months and 3 different lenders had failed to get her a mortgage.   As she said  he “always over promising me  saying it was all guaranteed and then letting me down,  I don’t want to lose this house just because he cant find me a mortgage ”

and hey presto I step in, find her a great deal on a 5 years fixed rate of 2.19%  HTB accepted, and within 7 days , the property is valued and she has her mortgage offer issued by the lender. ” I cant thank you enough and will certainly leave you a review,  you have delivered exactly what you said you would and never over promised ”  ( look for a review about this date )

HELP TO BUY (HTB) NEW BUILD MORTGAGE  – Newcastle

Help to buy helps first time buyers get mortgage by boosting their deposit by uto 20%,  applicants must still put in at least 5% of their own cash, and the amount supported by HTB becomes a loan payable after 5 years.

How does it work?

With a Help to Buy: Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

So You won’t be charged loan fees on the 20% loan for the first five years of owning your home.

 

I’m not a lover of HTB,  but it worked for this client and helped her get her mortgage so she could buy her Newcastle property

 

HELP TO BUY (HTB) NEW BUILD MORTGAGE – Newcastle

If you need help with a  HTB mortgage in Newcastle, Leeds, Sheffield, Manchester, Nottingham,  Doncaster or Cardiff get in touch and we will look to help you

 

HELP TO BUY (HTB) NEW BUILD MORTGAGE

AirBnB Mortgages available

AirBnB Mortgages

AirBnB mortgages have been pretty scarce, with many mortgage lenders not wanting to lend on AirBnB style properties. Well now in late 2018, a small number of mortgage lenders are now starting to lend mortgage on AirBnB properties.   AirBnB  is different to a  standard holiday let, in that you might let out part of your house or your entire house for certain periods  and tend not to have written contracts supporting it.  Its very important to ensure that any mortgage you have fully supports you letting your property out via AirBNB  otherwise you could be in breach of your mortgage contract.

 

So, how about a BTL product range specifically designed to cater for the airbnb mortgages and short term let market which is growing in popularity.


AirBnB Mortgages Key Features

  • Rates from 2.99%
  • No need for an AST
  • No need for a Holiday Let Agreement
  • Rental income is based on standard property rental figure
  • Valuer will give rental income as a single family let
  • No minimum income

AirBnB Mortgages Product Terms

  • Max 75% LTV
  • Minimum loan size £50,000
  • Available to Individuals & Ltd Co
  • Available to Ex Pats
  • Not available for HMOs or MUBs
  • 2 & 5 Year rates available

 

How does Airbnb work?

Airbnb is an online marketplace which lets people rent out their properties or spare rooms to guests. Airbnb takes 3% commission of every booking from hosts, and between 6% and 12% from guests. There’s plenty of criteria to list for/search a property: from a shared room to an entire house, to having a swimming pool to having a washing machine. There are photos of the property, and the hosts/guests, with full map listing.

 

Why do people like it?

A combination of factors, but primarily financial ones. Guests get good value accommodation at a huge range of price points, from a few pounds a night to hundreds and often in prime locations where a normal hotel would cost infinitely more.

Hosts can cash in on spare space, perhaps if children have flown the nest and there’s a spare bedroom. In fact, according to economist Dr Margarethe Theseira, if an Airbnb host lists their property for seven days a month on average they would earn £5,600 per year, a boost to household income equivalent to a 15% pay rise for an average full-time employee.

If you are looking for help in finding an mortgage for an AirBnB property then look no further just hit our enquiry button we can help with;  AirBnB mortgages in London,   AirBnB mortgages in Wales, AirBnB mortgages in Cornwall,  AirBnB mortgages in Yorkshire, AirBnB mortgages in Lake District