Abbie Gaul- Our Specialist Lending Expert 

This post is over a year old. There may now be updates to the facts stated and the views of the author. Please read with this in mind or check for more recent articles in LIFT-Mortgages.

We welcomed Abbie Gaul onto our team in September. I first met Abbie at a networking event a couple of years ago; very quickly, it became apparent Abbie could be a great asset to the LIFT-Mortgages team. LIFT-Mortgages often focuses on everyday mortgage enquiries; however, Abbie has a lot of expertise in the area of specialist lending. 

Abbie is a whole of market Mortgage Consultant; she decided she would like to focus her career towards the more specialist part of the industry. Some of Abbie's specific areas of expertise are: 

Buy-to-let mortgages

A buy-to-let mortgage is required for any property that you plan to let out long term on a tenancy agreement. Here are some key points to consider if you are looking into a buy-to-let mortgage: 

  • Lenders will generally assess affordability on a standalone basis against rental income received, so your personal income and expenditure will not be considered in most cases
  • It is not always necessary to own your own residential home to qualify for a buy-to-let mortgage
  • Broadly speaking, you will require a 25% deposit for a buy-to-let
  • Several lenders have no maximum age, allowing investors to use buy-to-let portfolios to fund retirement
  • Lending can be taken in personal names or structured within a Limited Company or Limited Liability Partnership

Abbie's areas of focus:

  • Portfolio & Limited Company landlords
  • Restructuring and incorporating portfolios to a Limited Company
  • Purchase and refurbishment of Houses of Multiple Occupancy (HMOs)
  • Lending on HMOs, multi-unit blocks and small commercial investments
  • Capital raising within the portfolio to purchase further properties

Un-regulated Bridging Finance (investment purposes):

A bridging loan is 'unregulated' when the property being used as security is for a business or investment purposes. It will never be occupied by the borrower or any member of their immediate family. A bridging loan can also become unregulated when it is taken out under the name of a company instead of a person.

Abbie's areas of focus:

  • Auction purchases
  • Refurbishment projects, including HMOs
  • Finance acquisition while planning permission sought
  • Short leaseholds and leasehold extensions

Regulated Bridging (own home):

A bridging loan becomes 'regulated' when the loan is secured against a property that is currently occupied, or it will be occupied in the future, by the borrower or any member of their immediate family. A regulated bridging loan can either be the first or second charge.

Abbie's areas of focus:

  • Traditional 'chain break' / downsizing
  • Refurbishment, where property may not be habitable
  • Short leaseholds and leasehold extensions
  • Property conversions –for example, multi-units being converted to a single dwelling

How can Abbie and the LIFT-Mortgages team help you? 

We can source the best product for you from the whole of the mortgage market, including several lenders that only offer products through selected brokers. We also have access to mainstream mortgage lenders, plus exclusive rates that you will not get in the branches or online. Most specialist lenders only offer their products through experienced brokers, on an advised basis.

If you would like Abbie to help you with specialist lending, get in touch today at info@lift-financial.com

 

 

 

 

Your property could be repossessed if you do not keep up repayments on a mortgage or other loan secured upon it.

David Baker – Latest Blog Posts

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