Complex Buy To Let
Capricorn secures BTL deal for non-residents; Buy to Let by Foundation adds HMO options – round-up
Capricorn Financial Consultancy, an advice firm serving higher-net-worth individuals, has obtained exclusive access to a one-year fix buy-to-let (BTL) product for non-residents.
The product from Capricorn is open to international buyers investing in properties in England and Wales. It has a fixed rate of 3.99 per cent and is available up to 70 per cent loan to value (LTV). After the initial one-year period, the rate will revert to the base rate plus 3.99 per cent.
An interest-only option is available with a 0.75 per cent additional rate loading.
The product from Capricorn is available to borrowers from China, the Middle East, Turkey, Malaysia, Thailand and selected others, while the property must be let out.
Conor Murphy (pictured), CEO and founder of Capricorn Financial Consultancy, said: “International buyers continue to look to UK housing stock as an attractive asset class, with London the valuable centre point.
“Stabilising house price inflation and a favourable exchange rate are continuing to boost interest in UK property, and today’s announcement is another important step in our mission to help more overseas buyers to invest in these valuable assets.”
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‘Buy to Let by Foundation’ launches HMO deals for first-time landlords
‘Buy to Let by Foundation’, the BTL brand of Foundation Home Loans, has added a pair of mortgages for houses in multiple occupation (HMO) targeted at first-time landlords.
This applies to people who have not held a residential BTL property in the last 12 months and are already an owner-occupier.
The products are available through the lender’s F2 range, which is for borrowers financing a more specialist type of property or people with historical credit blips.
They are available up to 75 per cent LTV with the two-year fixed rate starting at 6.84 per cent and the five-year fix at 6.49 per cent – both have a two per cent fee.
Tom Jacob, director of product and marketing at Foundation Home Loans, said: “Historically, first-time landlords tended not to begin their property investing journey with more specialist property types, however more recently we have been aware of an increase in demand in this space, no doubt fuelled by a quest for greater rental yield levels, and in order to meet the healthy demand for such tenancies.
“We’re therefore very pleased to be offering these new standard HMO products, specifically for first-time landlords, who can benefit from our experience in this space, plus a 75 per cent LTV product with both competitive two- and five-year pricing.”
He added: “Clearly, HMO properties come with greater responsibilities and requirements than standard rental property types, and it’s important advisers play a pivotal role with first-time landlords, helping them understand all that is involved as well as ensuring they have the right finance solution for their purchase needs.”