Tag: Payam Azadi
Khan (pictured) doesn’t currently have these powers.
Dean McCormack, a mortgage broker at AK Partnership, said, as a broker based in Devon, he has fallen into this holiday let market and sees it as a huge growth area, partly because of the tax purposes of being outside of George Osborne’s mortgage tax relief changes.
The report said that landlords should lose their power to evict a tenant who has not broken the terms of the tenancy agreement for the first three years of the tenancy agreement, and should have to provide grounds for eviction after that point.
It’s a niche area, with Moneyfacts data showing nationwide out of 2,199 buy-to-let products across 75 providers there’s only 16 buy-to-let offset mortgages offered by five lenders.
Sedgwick said education is needed to help brokers understand specialist areas. Vida provides webinars, workshops and regional blogs by key account managers.
On the panel were David Whittaker, chief executive of Keystone Property Finance, Adrian Moloney, sales director at One Savings Bank and Steve Cox, distribution director at Fleet Mortgages.
James Bloom, managing director of short-term lending at Masthaven Bank, said borrowers have been opting for longer-term bridging deals for more certainty by looking for 18-month non-regulated loans for both bridging and development.
Bloom said: “We’re in a tough market with a number of mortgage lenders withdrawing from the market. When it’s more difficult to get traditional finance, people turn to alternatives and bridging comes into its own so brokers should definitely add this to their toolkit.”
All of the OneSavings Brands, including Kent Reliance, will be reporting to him.
The estate agent gives brokers a portion of the completion fee when their clients sell a property, while it encourages the buyer to use the same broker.