Credit slip-ups might affect a buy-to-let landlord’s options when it comes to new lending. When these clients fail to meet high-street requirements, TBMC can help with access to specialist lenders geared for these otherwise suitable applicants.

Lenders usually give a clear breakdown of the adverse limits they will accept. Checking your client’s credit report gives you the facts needed to source the right lender before adding any unnecessary credit searches to their current file. Things to consider:

CCJs, defaults, mortgage and credit arrears:

·        how many

·        current status

·        when were they incurred

Debt management plans, payday loans and bankruptcy:

·        when were they registered

·        satisfactory conduct

·        Often these scenarios are subject to the underwriter’s discretion.

Lenders like Foundation Homeloans, Bluestone and Together Money can offer solutions through tiered product ranges defined by your client’s credit profile.

If you have any tricky buy-to-let cases that you would like to discuss with an experienced specialist, TBMC can help you place the applications with suitable lenders for your landlord clients.

The buy-to-let remortgage market in very healthy, accounting for around 65% of enquires at TBMC and presents a great opportunity for intermediaries.

Remortgaging applications may include capital raising – borrowing funds above those currently owed to an existing lender for other uses. Where your client has equity available, raising additional funds through a remortgage might provide a solution to their modern financial needs.

Lender can be quite flexible about the purpose of the capital raising and typical reasons include:

·        buy-to-let or residential deposit or purchase

·        personal expenditure

·        property improvement and refurbishment projects

·        debt consolidation

·        business purposes or investments

·        application costs

Some lenders simply state that raised capital can be used for ‘any legal purpose’.

Your client will need to disclose what they intend to do with the capital raised as lenders will want to know where their funds are goings and that they’re being used appropriately. The client may need to provide evidence too. For an onward purchase, a decision in principle illustration may be requested.

TBMC offers a diverse range of remortgage products including free valuations, paid legal fees and up to 85% LTV lending to meet your clients’capital raising needs.