Do I need to tell my mortgage lender I’m renting out my house?

The short answer - and we know it's probably not the one you want to hear - is yes. If you've been living in a property on which you had a residential mortgage, but are intending to move out and let the property instead, you will need to inform your mortgage lender. If you're still living in the property and have simply taken in a lodger, you won't normally need to inform your mortgage lender of... Read more

Posted by Sue @ Upad on November 23rd, 2009 in Mortgages, Property Rental, Tips for New Landlords

Buy-to-let is back in business

The recession's detrimental effect on the housing market has resulted in some people losing their faith in property as an investment. But actually, the readjustment of prices makes this a good time to put money into residential lets, says Upad's founder and CEO James Davis. There are some real property bargains to be had throughout the UK right now. There are also signs that rental prices are... Read more

Posted by James @ Upad on October 19th, 2009 in Buy-to-let, Mortgages, Property Rental

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Buy to Let Product Update

Quick update on Bank of China: Access to their buy to let mortgages is only available via a select panel of packagers, but their criteria are confusing, at best. A little tip for you - one packager charges almost £150 less on their standard valuations than the others, so let us know if you’re considering this lender. 75% Loan to Value mortgages remain thin on the ground, and the two main... Read more

Posted by James @ Upad on August 17th, 2009 in Mortgages

Mortgage approvals on the up

June saw the largest number of mortgage approvals for house purchases in more than a year, further evidence that the housing market slump has bottomed out.  According to figures released by the Bank of England, 47,584 home loans were approved, up from 44,169 in May. This figure is also 70% up on last November, when the number dropped to just 27,000. Importantly, the overall value of the... Read more

Posted by James @ Upad on July 31st, 2009 in Mortgages

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Market Leading Mortgage Rate

  Finally some good news for landlord mortgages – but you need to be quick!    We have been advised of an absolute market leading mortgage rate for landlords:           ·            Minimum loan £100k (65% loan to value on interest only 70% repayment) ·            Rate Bank of England base rate +2.89% (above £2m... Read more

Posted by James @ Upad on June 5th, 2009 in Mortgages

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