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Norton Broker Services are already fully prepared for all possible BTL scenarios.

Are you prepared for the changing BTL landscape.

Helen Marshall

16 September 2016

BTL second charges are available at a competitive 90% LTV.

Explore a wide range of buy to Let second charges with Norton Broker Services

Buy to Let second charge loans are becoming an ever-increasing part of business for master brokers. And, if speculation about the financial landscape in the future following Brexit proves to be correct, falling house prices may mean more people will be buying investment properties in the coming months.

Norton Broker Services are already fully prepared for all possible BTL scenarios, with many lenders on panel offering BTL second charge options. Interest rates are similar to those of residential second charges and the products are flexible on rental income and credit history.

Fact File : Consumer and Non-Consumer BTL

Each lender has their own interpretation of what constitutes a consumer or non-consumer BTL. However, all lenders seem to have some basic principles in common.

  • “Accidental” landlords who own one to two BTL properties
  • Inherited property
  • Bought a new home and decided to let their previous residential property
  • Have lived in or plan to live in the BTL
  • A family member is or will be living in the BTL
  • The property was not bought as an investment
  • “Professional” landlord
  • Two - three or more properties in their portfolio
  • The property was purchased specifically to be an investment
  • No family members living in the property.

Our range of BTL products covers all circumstances. Lenders are allowing clients to borrow for any legal loan purpose including money for business purposes.

BTL second charges are available at a competitive 90% LTV. Additionally they will work on flexible figures for rental cover, from a minimum of 110% cover of the BTL first charge. Many lenders will also work from a projected rental figure for affordability, should the property be currently unoccupied or let for a lower amount.

With so many products on offer at Norton we are confident that we can find the right Buy to Let solution for your clients. If you would like to discuss any cases with the broker team please call 01709 321 665 or email and request a call back.

We have recently introduced our packaging service, allowing you to submit advised business for Norton to package. Call in to speak to a member of the broker team on 01709 321 665 to arrange a training visit for this process.

Tags: buy to let, secured loans, house prices


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