Without doubt the biggest news this week is about the reorganisation within the Lloyds Banking Group. For those of you that haven’t read any news in the last couple of days, here’s what it means for buy to let mortgages:

1.        BM Solutions (or Birmingham Midshires as it’s also known) will be staying, hurrah!

2.        Cheltenham & Gloucester are closing all their branches and their mortgages will only be available via brokers.

3.        From the 1st of July, Bank of Scotland will no longer offer mortgages (but later in the year will offer Bank of Scotland branded mortgages on the high street)

4.        Intelligent Finance will stop offering mortgages and instead their offset mortgage will be available via Scottish Widows.

What does this mean to you? Well, my opinion is simple - BM Solutions are without doubt the best buy to let lender when it comes to efficiency and service, and therefore it is good news that Lloyds have decided to keep the brand alive. The benefits to you the investor are that you still have access to a lender who can get you buy to let mortgages quickly and still at 75% loan to value.

Tip(s) of the week

1 - Two flats on one title?

We often come across two converted flats in one building which are under the same title. Many lenders aren't happy with this scenario but we have one lender who will do it - so give us a call.

2 - No minimum income?

There are still lenders out there that will provide buy to let mortgages with no minimum income requirements. For a start, we have The Mortgage Works, Principality and Northern Rock – so don’t think just because you don’t earn above a certain amount you won’t be able to qualify for a buy to let mortgage. In particular, these mortgages can help wives/partners that haven’t got a full time job but would still like to get into buy to let. Again, call us if you feel this may be your situation, and don’t let it stop you picking up those property bargains!

Call one of our advisors today for more information 01424 205 373