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Mortgage for portfolio landlords


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Hi JP, Yes I have two BTL's with fixed rates/discounts due to expire in the next couple of months and am experiencing the same issue. It seems it pins on the valuers (very short sighted) view on the market value & risk of tenants being made redundant. One was down valued slightly from original purchase price (which was below asking then & well below now) by the potential new lenders valuer. 

I've decided to wait it out on the higher standard rate because this isn't much more cost due to rates being so low. Until the market picks up, hopefully enough in a few months time. Just unfortunate timing essentially, although be interested if anyone or their broker has overcome this issue? 

I'm also in the market for another purchase but I'm seeing lenders will only go to 65/70% LTV on BTL & bridging which inhibits the ability to take advantage of potential deals in the current market.

James

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