Welcome to the new Flex Mortgages. A bespoke solution designed for your buy to let and residential properties. It provides an attractive alternative to other forms of short and medium term finance:
- There are no monthly payments – a rolled up fixed rate of interest is paid at redemption or at the end of the term
- The product is available on a second charge basis (first and second charge for Buy To Let and investment property)
- Lending is up to a maximum of 50% LTV (subject to a combined LTV of 80%)
- 1 to 5 year loan term
- ERC (Early Repayment Charge) Options: 3 months, 12 months & 24 months.
- Fixed rates typically range from 5% to 10.5% for first charge loans (BTL only)
- Fixed rates typically range from 5% to 13.5% on second charge loans
- All rates will be calculated on a case by case basis and will be dependent upon a range of factors, especially LTV and term.
Some of its uses incude…
- Providing capital to fund a child’s first property purchase
- Raise funds for school fees
- Reduce the economic pain of divorce
- Fund university costs
- Accelerate the receipt of a deferred bonus
- Raise capital to buy into a partnership or other business
- Provide investment into their business
- Provide start-up capital for a new business
- Fund a buy to let purchase or a second home
- Diversify a client’s asset mix away from property into other classes
- Inheritance tax (IHT) management
- Contributions to a personal pension or SIPP
- Changing from an interest only mortgage to a repayment mortgage
- Get a better mortgage rate because of a lower Loan to Value (LTV)
NEW!! If you’re a couple with a young family, or are about to start one, then contact us to see how our Family Friendly Mortgage could help you…
- We at Gateway Financial Consulting are Independent Accredited Advisers.
- The Financial Conduct Authority does not regulate some forms of Buy to Let or Tax Advice.
- Flex Mortgages are not regulated by the FCA.
*We do not provide business, investment, pension or tax advice. Using capital raised from a flex mortgage for these purposes may come with certain risks so you should seek specialist independent advice in these areas.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
A fee may be payable, subject to your circumstances, needs and requirements; our typical fee is £395.00 on acceptance of a mortgage application and 1% of the loan amount on completion.