Pinpoint Finance are warning mortgage brokers and landlords to brace themselves for “significant challenges” when placing Buy to Let re-mortgages, in the coming month.

In the run up to the 3% stamp duty changes in March 2016, over 28,000 Buy to Let mortgages were advanced, a staggering £4.3 billion of lending was completed as landlords raced to beat the tax changes. Although, this “dash for cash” gave the “standard” mortgage broker a bumper “payday”, the market is very different now.

With the changes in underwriting criteria made by lenders, including the Prudential Regulation Authority (PRA) rules on stress testing and phasing out of higher rate tax relief, brokers and landlord may face difficulties when re-mortgaging these cases.

Although we don’t know how many of these new mortgages were placed on 2-year deals, many will now be potentially wanting to re-mortgage, creating a headache for your “standard” mortgage broker.

At Pinpoint Finance, we work with a range of specialist lenders, so we can provide solutions to many of the problems, brokers and landlords will now face. Pinpoint Finance specialises in Buy to Let mortgages and helping brokers with their complex cases, so whether you have portfolio landlords, an HMO or a student let property, our knowledge and experience of the specialist lender, can really help.

There is now a real need for access to the specialist lender who caters for the borrower that the high street lenders will no longer serve. So, if you or a client needs help with a particular case or just need to talk something through, call Pinpoint Finance on York 01904 866 100.