Running a Buy To Let Search

Clicking on “Add New BTL Search” and you are presented with a familiar interface with a few differences:

  • Income details are condensed, but factor tax band
  • Mortgage types can include HMO’s, Limited Companies, purchase or remortgage, freehold and leasehold, interest only and repayment.
  • Service charges and other costs can be factored
  • Portfolio information can be input here, although we recommend the portfolio manager, detailed below, as a better method of managing more than a few properties.

Completing such a search with less than 3 other properties in the portfolio will show all lenders, however increase this and only portfolio lenders will show results.

 

Portfolio Manager

Please download a fresh copy of the portfolio manager spreadsheet where possible to avoid issues uploading. The spreadsheet cannot contain any extra info below the table itself, and values entered should not include £ or % signs.

You can copy and paste columns from your client spreadsheet into this template. Green labelled columns are mandatory, where as other colums will be populated on upload where Land Registry data is available.

Save the template, browse for the file and then click upload and you should be presented with the following screen

Each property is represent by an image. Each property allows the value, loan and rent to be adjusted. The “Available Lenders” displays the number that would fit that particular security address, however clicking “Run Full Search” will place the adjusted information into a standard BTL search giving full results, chart and table.

Clicking View/Hide Property Details brings up an additional modal that will show purchase price and date from the Land Registry and other useful information about the property.

The Affordability graph below shows the portfolio calculation across lenders. The line denotes the total rent and the bars on the chart denote the required rent. Should the line fall below the bars then they will rturn red and indicate that lender wouldnt accept the poprtfolio as it stands. You can increase rents and reduce loans on properties to affect this in real time, making it much easier to advise clients of where they stand holistically.

Below there is a table with shows key metrics, including the equity available up to a certain LTV.

By clicking Export, you can populate common lender portfolio spreadsheets with the data collected, saving time and reducing errors.