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Happy New Year! Adrian Moloney looks ahead to 2022

Adrian Moloney

Adrian Moloney - Group Sales Director

Published 07.01.2022

A very happy 2022 to you and your families. I hope you had a relaxing festive break and are looking forward to a new year full of new opportunities.

So, have you made any resolutions? Me? Well, as a keen runner, I’m looking forward to getting myself match fit and out pounding the pavements again after a period of time on the physio’s table towards the end of last year.

And whilst we’re on the subject of things you’d like to achieve in 2022, now seems like the perfect opportunity to talk about some of the ways Precise Mortgages could help keep your business up and running in the coming year.

For landlord customers looking to remortgage

Many landlords who took out a five-year fixed rate mortgage before the introduction of new affordability standards back at the start of 2017 may be searching for a new product as their initial fixed rate comes to an end.

Fortunately, our Winter Warmers range of buy to let mortgages allows them to remortgage onto one of our two or five-year fixed rate deals with £0 product fee, refund of valuation (maximum £630) and £500 cashback.

For full details, take a look at our Winter Warmers buy to let flyer.

For customers who need to bring a new property up to minimum EPC standards

The government has said its preferred policy is for properties let to new tenants to be upgraded to EPC band C from 2025. It has also stated the same standards should be applied to all tenancies by 20281. It means the next few years will likely see an increase in the number of landlords looking to secure finance to help them meet the target.

Our refurbishment buy to let offering could be ideal for your landlord customers who’re looking to make changes to a property that can be completed within six months, and which are classed as either light refurbishment or work completed under selected Permitted Development Rights where there is no change to the footprint or structure of the property. This includes projects such as carrying out work to meet the minimum EPC rating, such as installing new windows and doors.

To find out more about our refurbishment buy to let proposition, have a read of our product guide.

For landlords looking to incorporate their rental business

It’s no secret that the number of landlords running their buy to let business as a limited company has increased dramatically in recent years and it’s a trend I can see continuing in 2022. In fact, according to the latest research from BVA BDRC2, 43% of investors say they intend to purchase their next property within a limited company structure.

If you’re approached by a customer looking to incorporate, it’s worth knowing that our limited company products, criteria and systems have already helped thousands of landlords, including portfolio and HMO customers.

All of our buy to let mortgages feature a top slicing option which enables customers to use surplus portfolio and/or earned disposable income to prove they can meet any financial stresses on a new loan application, rather than through the rental income of the property alone. Landlords can also have up to 20 mortgages to a combined value of £10 million with us, and we don’t set a limit on the number or value held with other lenders.

You can find out more information by visiting the limited company section on our website.

For brokers looking for advice and support

After a bumper 2021 which saw gross mortgage lending reach £316bn3 and house prices rise to their highest-ever level4, 2022 is likely to be another very busy year. It’s why brokers will still continue to need help in navigating the ever-changing landscape in the coming months.

Here at Precise, we’ve always prided ourselves on providing brokers with all the advice and support they need in finding the right solutions for their customers. Our sales team is on-hand to answer your questions and guide you through the process, while our experienced in-house teams work closely together to ensure your cases are processed as speedily and with as little fuss as possible.

To quickly identify the nearest member of our sales team try our easy-to-use search function to find the person best placed to help you.

The above examples are just a flavour of some of the solutions we offer. We look forward to helping you in 2022 and don’t forget if you’ve got a question or need a little more support, a member of our sales team is always here to help or you can call our dedicated support service on 0800 116 4385.

Sources:
1 https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/946175/prs-consultation-2020.pdf (page 23)
2 BVA BDRC Landlords Panel Report Q3 2021 (slide 48)
3 https://www.ukfinance.org.uk/press/press-releases/2021-set-be-record-year-mortgage-lending
4 https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/september2021#:~:text=The average UK house price,to £159,000 (10.7%).
 

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