- 5th April 2022
- Posted by: DMM
- Category: Buy to Let
Whole block buy to let refinancing to just one lender can have some advantages and we have lenders that will lend up to £15 million including properties in personal names. If you have tried whole block buy to let refinancing with one lender facility, then you may have come across a few issues or obstacles:
- Some lenders prefer not to provide funding for a whole block of flats as they may have an exposure limit
- They may not have been prepared to finance multi-unit blocks
- Not offered funding where units are in an individual name or
- Resisted complex SPV structures
We can provide access to lenders that will offer loans of up to £15 million with up to 75% LTV (to £10 million) and up to 70% LTV (£10 million to £15 million).
Buy to Let Portfolio Rates
Portfolio fixed range – 5-year fixed payrate range with loans available from 65% up to 75% LTV across standard and specialist properties – priced from 3.89% with a 2.00% fee.
Portfolio Tracker Range – lifetime tracker range with loans available from 65% up to 75% LTV with no ERC – priced from 3.79% with a 2.00% fee.
Developer Money Market can assist with whole block buy to let refinancing and provide bespoke solutions to suit your investments
Criteria for Whole Block Buy to Let Refinancing:
- Maximum lending on a single asset – £2,000,000
- Minimum portfolio submission amount – £1,500,000
- Block exposure up to 100% of block (block discounts may apply)
- Background portfolio assessed at 100% rental coverage
- Generous ICR calculations – 125% basic rate & Limited company borrowers, 135% HMO/MUB properties, 140% higher and additional rate tax borrowers,
- ICR stress at payrate on 5-year fixed, 5% for lifetime tracker
- Acceptable property and borrower types for portfolio products – Houses, leasehold flats and maisonettes including new build properties through limited company, SPV or personal names. Includes HMO, MUFB, above or next to commercial and holiday lets. Expats considered on referral.
- Complex SPV structures considered
- Streamlined processing available
- Portfolio application and legal fees – can be reviewed on case-by-case basis
Developer Money Market can assist with whole block buy to let refinancing and provide bespoke solutions to suit your investments.