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Nathan Cole

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About Nathan Cole

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  1. Good morning @JohnC, The length of term available varies from lender to lender, with some lending capping the borrowing at age 70, others at age 85 and there are some even some going indefinitely now. In terms of purchasing via a limited company, generally the term available does not alter from owning the property in your personal name, although there are some exceptions. I hope this is helpful and please do let me know if you would like to talk through your scenario in more details, always happy to help. Best regards Nathan Cole
  2. Good morning @docbick With regards to your question, as you are not currently residing in the UK it would need to be an expat mortgage. There are a handful of lenders who can offer expat LTD company mortgages too, in case you decide this ownership strategy suits you better. Please do let me know if you would like to talk through your scenario and options further, always happy to help. Best regards Nathan Cole
  3. Good morning @willplaice I work for a London based brokerage called Private Finance and would be happy to help if you need assistance. We primarily deal in complex property finance, so have a great deal of experience working with BTL's/Top-Slicing etc. Please feel free to reach out if required. Best regards Nathan Cole
  4. Hi @marlond I regularly work with expats all over the world and would be happy to assist if you require a bit of advice. Please do let me know if you have any questions. Best regards Nathan Cole
  5. Good morning @jessyb I regularly work with clients who are looking to finance ‘HMO’ and ‘Commercial’ properties. If you would like a bit of advice, then I would happy to arrange a conversation. Please so let me know a couple of suitable times to speak. Best regards Nathan Cole
  6. Hi @anthonybb The majority of lenders will stress test the rental income using the gross figure, but clearly each lenders criteria varies and it is subject to individual assessment. I hope this is helpful and please do let me know if you have any questions. Best regards Nathan Cole
  7. Hi @alex-bond I work for Private Finance, who are an independent whole of market brokerage firm, so we have access to all of the lenders in the market. Please feel free to message me you contact details and we can certainly arrange an initial discussion to see where we can assist. @DerekT Interesting to know about Charles Louis, I have never heard of them. Appreciate the update. Best regards Nathan Cole
  8. Glad I could be of assistance Martin. Best regards Nathan Cole
  9. Here is a breakdown on a couple of changes in the mortgage market, which we believe will extend beyond lockdown...

    https://www.privatefinance.co.uk/news/blog/2020/05/11/revolution-in-action-the-changes-in-the-mortgage-market-that-will-extend-beyond-lockdown

    news-article-img5.jpg

  10. I agree and perhaps my response was not clear enough, we do always have to have a copy on file and the lender will always need to know the source of deposit, I was just meaning that lenders do not always require a physical statement, as long as they are comfortable with the source in the first place (Criteria clearly varies from lender to lender, and whilst the majority of lenders should accept investments as proof of deposit, of course there are lenders who will not accept this source). This is also why I suggested running it through if required, to ensure the proof of deposit is sufficient. I hope this is helpful and clears up any missed points from my previous post. It is important to run the proof of deposit passed the vendor/estate agent first of all though, as you want to ensure that they are comfortable with your source and that they are willing to take the property off the market with this evidence. Best regards Nathan Cole
  11. Hi @laurat28 As you rightly mentioned, the criteria for an experienced landlord varies from lender to lender. For instance, one lender may require you to have owned and rented out a BTL/HMO for a minimum of 6 months and another may require you to have 12 months letting experience. As you already own two properties and have proof of letting (Tenancy agreements, Bank statements evidencing rental income) then I would expect that there should be lenders who will class you as an experienced landlord. I would just ensure that your broker clarifies with the lender their definition of 'Experienced Landlords' prior to application, as you do not want the application to fall down at a later stage. I hope this is helpful and please do let me know if you have any questions, or would like some guidance on who can assist. Happy to help. Best regards Nathan Cole
  12. Sorry to hear that. Please do let me know if you require any assistance, always happy to help. Best regards Nathan Cole
  13. Hi @mhprog I have worked with clients carrying out similar transactions to what you have described above and we did not have a problem. The lender we approached was comfortable with SPV to SPV and SPV to Personal Name, they simply required the following... The property was purchased at full market value The other shareholders/directors were comfortable selling the property to you The taxes involved with the purchase were paid (Stamp Duty etc.) I hope this is helpful and please do let me know if you have any questions, or would like to see what the terms would look like. Happy to help. Best regards Nathan Cole
  14. Hi @arjunb There are certainly BTL lenders who will be comfortable with investment statements acting as proof of deposit, but the majority of lenders do not always require physical proof of deposit for their applications and will simply need to be comfortable with the source. Proof of Deposit is generally required for Estate Agents (In order for them to confirm funds, before accepting an offer), Solicitors (As part of the legal processes), Brokers (For compliance and regulatory purposes) and the lender (If required to back up the listed source). If you have any particular circumstances you would like to run through, to ensure this will be sufficient, then please do let me know. Happy to help where I can. Best regards Nathan Cole
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