Key takeaways A second charge bridging loan is short-term finance secured against a property that already has a mortgage or loan on it. It sits behind the existing first charge, which keeps priority — so the original mortgage is not disturbed. Two … [Read more...] about Second Charge Bridging Loans — How They Work, Who They Suit, and the Trap Most Borrowers Miss
How Is a Property Valued for a Bridging Loan? The Valuation Basis That Decides Your Real Loan Size
Key takeaways A bridging surveyor reports several figures, not one — and the loan is usually set against a more cautious resale value (often the 90-day or 180-day figure), not the open market value. The valuation basis a lender uses, more than the … [Read more...] about How Is a Property Valued for a Bridging Loan? The Valuation Basis That Decides Your Real Loan Size
Bridging Finance for an Uninhabitable Property — Why a Normal Mortgage Won’t Lend, and How the Bridge Works
Key takeaways Bridging finance for an uninhabitable property is short-term, asset-backed lending used to buy and renovate a home a standard mortgage will not touch — then you refinance or sell once it is habitable. Also in the case of a buy-to-let a … [Read more...] about Bridging Finance for an Uninhabitable Property — Why a Normal Mortgage Won’t Lend, and How the Bridge Works
Bridging Finance for Auction Property — How It Works, the 28-Day Clock, and the Legal-Pack Trap
Key takeaways Bridging finance for auction property is short-term lending that can complete fast enough to meet a tight auction deadline, where a standard mortgage usually cannot. It is secured against property and judged mainly on the asset and … [Read more...] about Bridging Finance for Auction Property — How It Works, the 28-Day Clock, and the Legal-Pack Trap
SA302 Tax Year Overviews for a Mortgage: What Self-Employed Applicants Actually Need
In short An SA302 is HMRC's summary of the income you declared and the tax due for a tax year; the tax year overview confirms that figure was actually filed and the tax accounted for. Most self-employed mortgage lenders want both, usually for two or … [Read more...] about SA302 Tax Year Overviews for a Mortgage: What Self-Employed Applicants Actually Need
Mortgage Using Retained Profit: How Lenders Actually Assess It
In short A mortgage assessment can sometimes take account of company profit as well as salary and dividends. Lenders use different income approaches, so the relevant figure and evidence depend on the lender's current criteria and your … [Read more...] about Mortgage Using Retained Profit: How Lenders Actually Assess It
HMO Mortgages: How They Work and What Lenders Look For
What this article covers Right — if you're looking at a house, picturing it carved up into individual rooms with separate tenants, and wondering why your usual mortgage broker has gone quiet on you, here's the thing about HMO mortgages: they sit in … [Read more...] about HMO Mortgages: How They Work and What Lenders Look For
Portfolio Landlord Mortgages: How They Work and What Lenders Check
What this article covers Right — if you've quietly built up a handful of rentals and you're now finding that the mortgage that felt easy on property number two has become a paperwork marathon on property number five, here's the thing about portfolio … [Read more...] about Portfolio Landlord Mortgages: How They Work and What Lenders Check
First Time Landlord Mortgages: A Specialist Broker’s Guide
What this article covers Right — if you're buying your first rental property and you've just discovered that a buy-to-let mortgage is a completely different animal to your home loan, here's the thing: the lender isn't really lending against you the … [Read more...] about First Time Landlord Mortgages: A Specialist Broker’s Guide
Contractor Mortgage on Day Rate: How Lenders Read It
What this article covers Right — if you're contracting on a day rate and a high-street lender has already told you that you "don't earn enough," here's the thing you need to know before you give up: a lot of lenders are reading your income the wrong … [Read more...] about Contractor Mortgage on Day Rate: How Lenders Read It