OUR MORTGAGES
Whether you are looking for a mortgage for a simple buy-to-let, a more complex investment like a HMO, serviced accommodation or social housing, or maybe even a mortgage for your own home, we have you covered. Here is a breakdown of the different types of mortgages:
Buy to let
With specialist knowledge of the entire market, whether you are buying your first, or 101st buy-to-let, in your own personal name, or in a limited company, our specialist broker team are on hand offer you an industry leading service.
With hundreds of clients investing in property, we understand your goals and strategies, so can offer a more personable and holistic approach to our advice.
HMO
HMO’s are a great strategy for those investors looking to maximise their cash flow. Getting a mortgage is a little more complex than the standard buy-to-let, with different products, lenders and criteria.
Whether you are new the HMO or are looking at larger Sui Generis classified projects, we can help you finance not only the purchase of a conversion through a short term finance option, as well as using HMO mortgages to either purchase “turn-key” HMO’s or remortgage your conversions.
Serviced Accommodation
Another great strategy for increasing the cash flow of your portfolio, serviced accommodation, or “SA”, has seen a huge increase in popularity since the “staycation” boom in the UK during the Covid pandemic.
Although the traditional holiday let mortgage has been around for the while, lenders are still catching on to SA, so criteria can vary greatly from lender to lender… many of which haven’t even decided what to call their products yet! Ranging from “short term lets” to “Air BnB Mortgages”, navigating this market can be quite tricky.
Luckily at Grand Union Finance, our team of expert brokers work with SA investors daily, so we always have our fingers on the pulse when it comes to new lenders, products and criteria changes.
Finance can be organised on a property by property basis, similar to a more traditional buy-to-let mortgages, or for serviced accommodation companies, with multiple properties and company accounts, which are more similar to commercial mortgages or business finance.
Social Housing
A popular strategy for property investors looking to create a more passive property portfolio, social housing, which also incorporates supported living, is a relatively small mortgage market.
With leases and vulnerable end tenants that are seen as high risk at the moment, this part of the mortgage market is still quite young, with lots of room to grow.
With our MD, Sam Norris, being one of the fore-runners in this space, finance for social housing has become one of our specialities at Grand Union Finance.
It is important to remember that social housing, unlike buy-to-let, HMO and SA mortgages, is not a product, but a criteria point, so we have to work with lenders who are comfortable with these types of leases.
Generally this means getting the draft lease checked before submitting an application (which can sometimes incur a fee from a lender to do), to ensure we get the hard bit signed off before an application is submitted.
Either way, you are safe hands with our expert team here at Grand Union Finance.
Residential
These mortgages are used to help you purchase your own home. As a property professional or business owner, these can be a little trickier to obtain than for those in full time employment.
At Grand Union Finance, we specialise in helping those with more tricky income, acquire their own home with the best mortgage possible.
We can perform an affordability assessment with you on a call, to give you a quick idea of how much you can borrow before we thoroughly research the market for you.
Having a clear, provable income, by way of self-assessment and/or company accounts, makes the process easier, and the lender options, greater.
Process Steps for Finance Application:
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