PROPERTY: Lend Invest exclusive with the director of BTL Andy Virgo - Green mortgages and more
The Property Nomads Podcast · Rob Smallbone & Aaron Devoy
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Show Notes
In this episode, Rob is once again joined by Marc Champ of Wharf Financial. They sit down to speak with Andy Virgo who after working in the banking finance sector for many years, set up his own brokerage in 2006. Today, he is the director of Buy To Let at Lend Invest.
They discuss how Lend Invest has been able to greatly speed up the property finance application process and are securing funding for a high percentage of their customers. As well as how they are creating products that address problems landlords face and are frequently doing so before their competitors do so. For example, their 7-year and 10-year fixed pay rate product and green mortgages. All of which is discussed in the podcast, along with the topic of EPC ratings and how it impacts securing finance in the future.
KEY TAKEAWAYS
- Not being hamstrung by PRA enables them to be more flexible and to be able to say yes to more applications. Examples are shared, in the podcast.
- The entire application process can be done online.
- Usually, the whole finance process is completed within 14 days or less
- Lend Invest has used technology to greatly simplify the application process.
- Currently, around 40% of applications are for their 7-year fixed pay rate product.
- Valuing HMOs on an investment basis brings many benefits.
- Lenders are already starting to reward landlords with high EPC ratings.
- Green mortgages are invariably cheaper.
- Environmental standards are only going to get stricter. Landlords need to factor this in and understand that lenders are already starting to do so.
- Lend Invest is developing several new products, including one for private homeowners.
BEST MOMENTS
‘The aim of the business is to disrupt.’
‘We´ve got funding lines with JP Morgan, Citibank, National Australia Bank, and many others.’
‘We help landlords grow their portfolio.’
‘We´re an intermediary only led business, we don’t give advice ourselves.’
ABOUT THE HOST
Rob Smallbone the host of The Property Nomads Podcast, is on a global mission to guide your success. Success can happen in many ways, shapes, and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?
Rob wants to make a huge difference to people around the world. He is here to guide your success in property, business, and life and to inspire you to achieve your goals, dreams, and visions. He's travelled, explored, and invested. And he's not planning on stopping these activities anytime soon.
Buckle up, sit tight, and enjoy the ride that is life.
EPISODE RESOURCES
Marc Champ @ Wharf Financial
E-mail = [email protected]
Phone = 0208 895 6677
Social Media = @wharffinancials
Website = https://www.wharffinancial.co.uk
Money Weekly = https://moneyweek.com/
https://www.lendinvest.com/
For access to BTL mortgages then please speak to your mortgage broker
BOOKS
Buy To Let: How to Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
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PODCAST
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