Why landlords should turn to bridge-to-let finance ahead of the Stamp Duty Deadline

by Gene Clohessy, Director of Underwriting

We’re back again. The extension of the Stamp Duty Holiday in March gave lenders, brokers and property investors breathing room but still leaves them deadline at the end of June.

As such this leaves brokers and borrowers wanting to get deals done quickly to take advantage of the holiday.

In these circumstances, lenders and brokers need to be creative to help get these deals over the line, which is why we’re pointing our clients in the direction of Bridge-to-Let finance as a way to secure their next property.

See all of our Bridge-to-Let and Buy-to-Let rates here.

Can still let right away 

While a Bridge-to-Let is used more typically for landlords needing light refurbishment on a property before lending, our criteria allows a property to be let out under a Bridge-to-Let mortgage, providing the right EPCs and licenses are in place and the property is in a good condition. 

This means landlords can use the faster bridge-to-let finance to secure their next property before refinancing onto a Buy-to-Let loan.

Read more: The 17 small bridging loans completed in 1 week.

Bridge-to-Let transition incentives

As a lender that has provided both Bridge-to-Let and Buy-to-Let mortgages for years, we’ve enabled a smooth transition between the products which mean the idea of using two loans to secure your property are not as labour intensive as they might sound. 

• Your Buy-to-Let mortgage can be pre-approved you automatically switch at the end of a bridging term 
• The same valuer and solicitors for both loans
• Underwriters and case managers can use all of the information provided from the bridging application, which increases the speed to offer and lessens the admin burden
• For standard property types, we offer a free valuation for the Buy-to-Let mortgage
• You can also benefit from free legals. If you select dual representation there will be no charge for your legals. If you choose a separate representation we will cover the costs of our panel solicitor.

With the deadline fast approaching it is important that brokers and their landlord clients approach how they can meet their ambitions in the current market by thinking creatively, and using a lender who can support them to do that.

See all of our Bridge-to-Let and Buy-to-Let rates here.