Know About Funded Services
Simon Hodgson is the founder of Funded, a Bristol mortgage broker firm. He is a seasoned buy-to-let, commercial and property development loan broker helping Bristol landlords and property developers.
Specialist Mortgages for Bristol Property Investors
As a property investor since the early 2000s, Simon understands the pressures that landlords and developers face when seeking finance for their buy-to-let or development property projects.
Specialist Mortgage and strategy advice is essential for any landlord and property developer based in Bristol.
In the past Simon had great difficulty getting the right advice from lenders when investing in Bristol property. In the present Simon focuses on being the best mortgage broker in Bristol and getting the very best mortgage rates for his clients.
Bristol Property Investment Mortgages
Bristol property investing services has changed over many years. It was dominated by single-let properties but has become much more sophisticated with Houses of Multiple Occupation (HMO) for professional and student lets, Furnished Holiday Lets (FHL) and property development with the conversion of commercial property into residential use. This level of sophistication requires landlords and property investors to use the right Specialist mortgage advisor who can search for and obtain the right mortgage product to meet their needs.
Like many Bristol mortgage brokers, Simon knows you can search for a buy-to-let mortgage using comparison websites. This can lead to a greater monthly interest cost to your property business, which is both unnecessary and avoidable if you are using a specialist mortgage broker. Applying to the wrong lender for your type of property, can lead to failed applications and lost time.
Section 24 mortgage interest relief cap
With the introduction of HMRC’s Section 24 mortgage interest relief cap that prevents landlords from offsetting the mortgage interest, many property investors are investing in Furnished Holiday Lets (FHLs) / Airbnb or purchasing buy-to-lets in a limited company. Whatever the change in investment appetite, there is a mortgage product that will help transfer strategy with a minimum amount of fuss.
Simon has worked with many landlords that have diversified their property strategy to include property development projects. Bristol Local Authority gives particular Permitted Development (DP) rights to cover commercial property such as an office or warehouse into residential use. This has opened the doors for property developers to increase the value of a commercial building by converting it into a block of flats or Houses of Multiple Occupation (HMO) or even Furnished Holiday Lets (FHL) / Airbnb.
FHL and Airbnb mortgages
The benefit of Furnished Holiday Lets (FHL) / Airbnb and commercial property investments is that mortgage interest may be offset against the income generated, unlike a standard buy-to-let investment. However, landlords need to be aware that they need a new type of mortgage product as the terms and conditions of a traditional buy-to-let mortgage may be breached if a landlord invests in commercial property or Furnished Holiday Let (FHL) / Airbnb property. It is essential for you to work with Simon, the Bristol specialist mortgage broker & advisor, to get the right product for you.
Many property investors have increased their rental yields by placing their properties on sites such as Airbnb, Booking.com etc. The increase in rental income and allowance of mortgage interest costs to be offset against the money received makes FHL/Airbnb a profitable proposition.
Simon has helped many property investors profit more from their Furnished Holiday Let / Airbnb by ensuring that the chosen commercial mortgage product has the lowest interest rate possible.
Residential conversion and bridge loan finance
property development projects require you to seek a Specialistspecialist Bristol-based mortgage broker to find the right development bridge loan finance whilst the conversion takes place and then convert that into a buy-to-let mortgage or commercial mortgage product upon completion.
Lenders will not lend money to property investors using standard buy-to-let mortgage products. The property development project will not generate any rental income and places greater risk for the lender. This is why investors need to use Simon, the Bristol bridge loan finance specialist, to find the correct short-term development loan finance to meet your needs.
Funded, the Bristol-based mortgage brokers have seen many property developers make a lot of money with these projects and supported them through short-term bridge loan finance loans/mortgage products.
Once the commercial property has been converted into residential use, the bridge loan finance product may be repaid with the buy-to-let/commercial mortgage product depending on the type of conversation.
Simon will work with Bristol property developers throughout the project. He will ensure that you agree to the time frames of when the building will be acquired, the conversion, and the work’s conclusion. This allows Simon to build mortgage applications at the right time of the bridge loan finance and then onto the standard buy-to-let/commercial mortgage product.
