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Introduction to Portfolio Buy-to-Let
We’ve created our Portfolio Buy-to-Let product for professional landlords looking for one loan which deals with their entire residential property portfolio.
- Ltd or LLP company borrowers
- Gross debt to market value < 75%
- 4 or more properties
- Up to 25 year term
- 5-year fixed rate option
- Facility for an entire portfolio
Using one provider for all your client’s residential property loans will not only streamline their Buy-to-Let business, but also give them greater flexibility as we consider their portfolio as a whole.
For your clients that are experienced, professional landlords, with four or more residential properties, this could be a solution.
The Portfolio Buy-to-Let loan is available on the following sourcing systems and criteria portals:
- Mortgages Brain
- Knowledge Bank
- Criteria Hub
Please note the Portfolio Buy-to-Let loan is not regulated by the Financial Conduct Authority.
How to apply?
If you’re new to Hodge, or have a question about the product, give us a call on 0800 138 9109 and we’ll get you registered and help with your query.
Alternatively, if you’ve worked with us before, click here to download the application form and get started.
What is the Hodge Portfolio Buy-to-Let Loan?
|Hodge Portfolio Buy-to-Let Loan?|
|Borrower types||Ltd or LLP company.|
|Loan Size||Min £250,000.|
|LTV||Gross debt to market value < 75%.|
|Term||Up to 25 years.|
|Repayment profiles||Interest only|
|Security||Minimum requirement – first legal charge over funded freehold or leasehold property. Assignment of rental income, debenture and other corporate security may be required.|
|Interest margin||From 3.25% subject to lending criteria.|
|Fees||Combined legal and arrangement fee of £1,500 per property.|
To be eligible for our Portfolio Buy-to-Let loan, your clients need to satisfy the following minimum requirements at the time of application.
|Completed application form||Available as an online form or downloadable|
|Completed tenancy schedule||Please complete the tenancy schedule with information relating to your entire BTL portfolio. This should include details of the secured lending held against each assets (amount, rate, expiry of loan etc.) as we will need this to assess affordability|
|Your business plan||Please let us have a copy of your business plan related to your BTL portfolio, this should include commentary as to the portfolios background, income aspirations, sinking fund, or means of funding refurbishment/ CapEx, drawing requirements and long-term plans for the portfolio.|
|KYC information||Copy of valid passport or drivers’ licence for each director and shareholder. Copy of recent (within last three months) utility bill for each director and shareholder. The name and address should match the application form. All documents should be certified by a suitably qualified professional.|
|Accounts||The most recent three sets of accounts for the borrowing entity. In the event of a newly incorporated entity, the articles of incorporation will be required. As will the relevant details of income and expenditure over the past three years|
|Bank statements||The borrowing entity previous three months bank statements. This should be the borrowing entities main account and be in the same name as the applicant. The bank statements should highlight income, expenditure and any payments to directors and/or shareholders for example salary, emoluments or dividends.|
|Legal Requirement||Following approval, we will begin our legal due diligence process. Our solicitors will require|
|DD mandate||This will allow Hodge to set up your statement|
|Signed Copy of the Bank’s “Approval in Principle” document||This, along with the terms and conditions, will form the basis of the bank’s offer and any underlying facility|
|Residential tenancy agreements and Tenancy Deposit Certificates||For all properties which will form part of Hodge’s security|
|A copy of the current buildings insurance policy for each property||This should evidence suitable landlord building insurance equivalent to the value of the property each policy is insuring|
|A copy of the energy performance certificate each property||This should evidence compliance that minimum EPC requirements are met (currently required E rating)|
|A copy of the latest gas safety check record for each property||Evidence of compliance within last 12 months|
|A copy of the asbestos survey; and copy of the current Fire Risk Assessment||These are only applicable if any property is not a self-contained residential dwelling (i.e. a whole block of flats or flat conversion building) or any part of the property has a commercial use, such as a shop)|
|Loan Account details||Details of all loans to be redeemed inc. account numbers and sort codes|
|Copy of enquiries questionnaire||Providing all required information for conveyancing|
|Signed borrower’s declaration||This will instruct solicitors to proceed with the proposed refinance|
Portfolio Buy-To-Let Loan