Here are some recent case studies handled by New World Finance:
First time landlord buying in LTD name, owns a residential. Income ok for FTL product and putting in own deposit. Exception made as plan is to purchase 3x by end of 2021.
Outcome: Rate 3.44%. LTV 75%.
Personal name, higher rate tax payer, rent being charged under market value as loyal tenant. Lender used surveyors market rent as per valuation report.
Outcome: Rate 3.64%.
Chinese national, no residential, had 2x BTLs but little letting experience. High street declined due to nationality and because the security was purchased below market value.
Outcome: Rate 4.99% deferred 1% per annum 3.99% pay rate.
LTD company (father/son). Both are FTL, father owns a residential, had no income but £50k savings. Son had job/income but no Letting experience. But they had a good solid plan.
Outcome: Rate 3.34%
High street lender declined due to difference between 90 day and market value. Also, surveyor noted ‘cannot be let for 9-12 months.’ Our chosen lender structured the deal with a 9-month deducted period (interest is retained for 9 months) client doesn’t make first payment until month 10. Client had a good story, income, numerous assets.
Outcome: Rate 4.99%. LTV 60%.
Client had various adverse in last 12 months, including 2 down 13 months ago on a BTL mmortgage. Client had also a trading company with various adverse. Low value property. Most lenders said no. Client had a strong solid story for adverse. Our chosen lender asked lots of questions but ultimately approved the deal.
Outcome: Rate 5.24%.