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Posted on March 23, 2018

Having a Buy to Let re-mortgage headache?

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.

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Pinpoint Finance

01904 866 100

Keith: 07547 540 541

Kelvin: 07826 603 635

Anna: 07442 775 270

hello@pinpoint.finance

Pinpoint Finance

01904 866 100

Keith: 07547 540 541

Kelvin: 07826 603 635

Anna: 07442 775 270

hello@pinpoint.finance

York Eco Business Centre, Amy Johnson Way, York YO30 5AG

York Eco Business Centre
Amy Johnson Way, York YO30 5AG

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Pinpoint Finance is Authorised and Regulated by the Financial Conduct Authority (FCA), reference number 733225. Click here for the FCA website.

Pinpoint Finance is a credit brokerage and not a lender and is registered with the Information Commissioner’s Office number ZA146757.

Commercial Mortgage Broker York North Yorkshire. Refinancing premises, funding new lease or building, raising collateral.  Great customer service for your next real property asset investment.
Pinpoint Finance is a trading style of Pinpoint Commercial Finance Ltd, a company registered in England and Wales, number 9825825. Registered Address: 3-4 Park Court, Riccall Road, York YO19 6ED.

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