A long-term landlord was referred to me by one of our sister agencies so I could carry out a portfolio review for him. It transpired that he had 10 buy-to-let mortgages, all of which were out of a deal and on a variable rate. I have re-mortgaged 3 of them to date, getting him better rates and saving him money. The other 7 should follow suit shortly. As part of the review he also chose to borrow an extra £150,000 to complete renovations to the properties and expand his portfolio further.
Josh Halsey – Sales Manager, Financial Services at Mortgage Scout
An unhappy landlord approached one of our sister letting agencies to say his tenant has moved out and he’s not making enough money. The landlord was referred to me to see if I could lower his costs. By reviewing the mortgage deal he was on I have managed to halve his payments and he is delighted. He will be saving just under £7,300 over the next two years and has asked me to review two more of his mortgages.
Josh Halsey – Sales Manager, Financial Services at Mortgage Scout
I recently worked on a very complex case for a couple. Partner A had three income streams: permanent employment, contracting (four recent contracts at a much higher level than previous income evidenced on tax returns), and property. Partner B had two jobs as a doctor (one started very recently, with most lenders requiring at least 12 months in a second role). He also had a default registered with British Gas after being charged for bills at a previous property despite having already moved out.
I coached Partner B through the British Gas appeals process, they have now removed the default from his credit report. Clydesdale agreed to proceed with a loan of £1.05 million in August, and I convinced the lender to allow the couple to select a rate from June. This saves them £320 a month, equating to £19,200 over the next five years.
Matthew Leggett – Mortgage and Protection Advisor at Mortgage Scout
