People are doing Property deals so David is sharing great information about lending, right now, in this time-sensitive episode packed with great content as we try to navigate our way through the unprecedented situation we are all in currently with a global pandemic.

He discusses an article from ‘Mortgage Solutions’ and explains exactly what is currently going on with the products available, the criteria in place and why you really must work with a great broker. This is a snapshot of where we are today and what’s available right now, you can’t afford to not listen.

 

KEY TAKEAWAYS

• More than 85% of ‘buy to let’ lenders who were active before, remain in the market today although their criteria and products may be more restricted currently. Only 14% of those in the market previously have withdrawn from the market.
• Access a knowledgeable broker who will be able to find the best deal for you they will know exactly who is doing what.
• Lenders offering ‘buy to let’ tracker mortgages have fallen but you and your investors still have a choice with lenders.
• Both first-time landlords and portfolio landlords still have many opportunities
• Different lenders are de-risking against different kinds of landlord borrowing, some have limited their products whilst others are working with restrictions. But a good broker should be able to find you a competitive deal.
• Lenders are now moving the valuation to the end of the process. Everything for the mortgage application will be completed before the valuation.
• There is liquidity in the market, the money is there when things are ready to go. You can spend the time now, building your investor base and the relationships you have with estate agents.

 

BEST MOMENTS

‘Some lenders withdrew temporarily but are now back in the market’

‘There are great brokers out there’

‘You and your investors still have a choice with lenders’

 

VALUABLE RESOURCES 

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

https://www.facebook.com/groups/progressivepropertycommunity/

 

ABOUT THE HOST

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.

In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.

The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.

 

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/DavidSieglerInvestments/