What are Portfolio Mortgages?
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Selling or Refinancing one or more of the Properties in the Portfolio
What do mortgage affordability checks involve?
If you do have four or more buy to let properties with a mortgage, you’ll be subject to the new portfolio mortgage underwriting.
As part of the application process, lenders will need to make sure that you are in a stable financial position and can make the monthly mortgage commitment. Different lenders have interpreted the rules in different ways and criteria can vary between lenders, but they will consider all of the portfolio and are likely to consider:
- Your experience as a landlord
- Details of your mortgages on all of your buy-to-let properties
- Your assets and liabilities
- Tax status
- Your income both from property and other sources
- Self Assessments/accounts
Will Writing and advice on Lasting Powers of Attorney are not regulated by the Financial Conduct Authority.
Buy to Let mortgages and Commercial Lending are not usually regulated by the Financial Conduct Authority.
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