Multiple Property Mortgages UK - Lenders Saying Max is 2 FHLs

in
Plymouth, United Kingdom
Level 2
55 Views

Hi everyone,

 

We currently have 2 properties, but lenders are appearing to say this is the max.

 

One option could be to start a business? Does anyone know any lenders which allow more than 2 FHLs?

 

Releasing equity is also very hard, as they won't allow for the above, the only option for that is to not get a 3rd FHL but a normal BTL.

 

What does everyone else do to get mortgages on 3+ FHLs?  Thanks .

2 Replies

Re: Multiple Property Mortgages UK - Lenders Saying Max is 2 FHLs

in
England, United Kingdom
Level 10

@James-And-Justin0 go to a mortgage broker. They will know what is possible and what isn't. The limit of 2 is probably very sensible as the market could tank at any time and then you will end up massively over exposed.

Re: Multiple Property Mortgages UK - Lenders Saying Max is 2 FHLs

in
Plymouth, United Kingdom
Level 2

Thanks , yes we are hoping they will find more options. I agree , but we aren't looking to sell so can ride market dips out, plus deposits are 25% anyway. I just find it odd that mortgage providers can't look into each situation as a clear business case and calculate that way instead of writing everyone off with a max of 2 FHLs. Although I appreciate since 2008 things had to change. I feel there's a clear business opportunity for a mortgage lender to open this up, yes income isn;t guaranteed, but you can always switch to residential letting if needs be.

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