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Good news for Buy to Let mortgage property investors

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Independent mortgage broker USHE Financial have found a solution for frustrated UK buy to let investors who are stuck with equity in their rental properties that cannot be released. The development could see property investors expanding their UK property portfolios or allowing investors to buy property overseas.

The Investment problem

Traditionally, property investors who own a U.K. property that is let to tenants have taken out a buy to let mortgage on the property. The U.K. Buy to let Lender insists that the rental income received from the property covers up to 130% of the monthly repayment on the mortgage. This can severely impact upon buy to let investors and limits how they can make the property investment work for them. UK property investors have been frustrated by the restrictions and have had to sit and watch the equity within the property rise over the last few years without a chance of releasing the profits. The only option in the eyes of the lender was for landlords to raise the rent charged at about the same level as the property price increases.

Typical example frustrating investors

Mr M from Stafford UK has a Buy to Let property valued at £150,000 on which he has a buy to let mortgage for £100,000. This represented the maximum he could borrow from the Buy to let mortgage lender as the rental income for the property is £565.00 per month. The maximum that he could borrow was set by the mortgage lender in the following way: Borrowing of £100,000 x the interest rate charged by the lender of 5.24% = £436.67 per month. Using the lender rules that the rental income for the property has to cover 130% of the monthly mortgage payment £436.67 x 130% = £567 per month. Therefore, the £100,000 borrowed by Mr M represents the maximum loan that the mortgage lender would allow.

A solution for property investors

Using a new product from USHE Financial, Mr M could now remortgage his Buy to Let property up to a maximum of £136,000! And at a lower rate of interest than that he was paying previously. The good news is that the rent still covers the monthly mortgage payment and that now he has released an additional £36,000 from his investment property with which to invest overseas.

Who are USHE Financial?

U.S.Holidays (Europe) Limited are a U.K. Based Limited Company specialising in obtaining mortgage Finance for both the professional property investor as well as securing the most competitive rates for our private client bank.

Authorised and Regulated by the Financial Services Authority, they have continued to build strongly on over 70 years of combined experience in the mortgage and property market to provide Investors with exciting opportunities and mortgage products both at Home in the United Kingdom, and through the Sister Company USHE overseas Limited they facilitate lending actively in over 50 Countries Worldwide from China to Canada

UK Mortgage rates rises expected

The odds on further increases in interest rates have shortened dramatically following news that inflation has surged to its highest in a decade. Inflation on the consumer price index measure rose to 3 per cent in December from 2.7 per cent the previous month, the highest since comparable records began in 1997 and way above the Bank of England's 2 per cent target.

USHE mortgage quotes (ref:Marr International) or contact us

Useful mortgage resources

Our Mortgage links

FSA - Information - Mortgages

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BBC - Homes - Property - Mortgage

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