Our new blog post for Property Reporter
A new year presents an array of opportunities particularly for portfolio landlords, whether you are looking to refinance properties or seeking the mortgages in order to help you add to your portfolio.
Tenant demand in the UK remains strong, there is still a shortage of housing coming to market for those who wish to purchase, and other demographics such as a growing number of households, all mean that the private rental sector continues to be a strong investment.
Plus, with the result of last month’s General Election returning a Government who are likely to intervene much more positively in the housing market, there appear to be plenty more reasons to be cheerful in 2020; even more so if we can get a successful Brexit outcome.
2019 was something of watershed year for buy-to-let, in that the market began to forge ahead again after a number of years when it was getting itself used to the regulatory and political measures inflicted upon it…
You can read the full article HERE
In the article we mention the portfolio and property stress tests the lenders require. In order to understand what is your stress results, you can do the following:
2. Go to “Portfolio Management” screen and start adding your property details. Make sure you enter the data for: Property Value, Current Mortgage Balance, Rental Income, Monthly Mortgage Cost:
3. After you have entered all your properties (we know, it takes time, but you just need to do it once and just keep updating the data if something changes) click on the button: “Criteria Summary”
4. In the Criteria Summary screen you will see the results of the stress test on your portfolio by reviewing the ICR figure on different rates. You can see what is your portfolio ICR for each rate (4%, 4.5%, 5% and 5.5%)
5. If you didn’t meet the ICR criteria for some lenders you will see it on the screen (we currently support only 22 lenders but we’re expanding the list):
Good luck! Image attribution: <a href=”https://www.freepik.com/free-photos-vectors/gold”>Gold photo created by freepik – www.freepik.com</a>