Fleet Mortgages is Making Some Important Changes to The Way They Underwrite Portfolio Landlord Cases.
New Dedicated Underwriting for Portfolio Landlords from 4th November 2022.
They are writing to let you know that with effect from Friday 4th November 2022, Fleet Mortgages is introducing a new dedicated underwriting process for Landlords owning four or more BTL properties.
What additional information do they require?
1. Existing Property Portfolio
Where all applicants, individually or collectively, own more than 4 existing BTL properties, they will request a property schedule that details the portfolio. Information is gathered via CoreLogic (Buy to Let Hub) allowing instant submission in real-time direct to their underwriters. If you already have previous data stored within the hub, you can use that information to create a new portfolio submission for Fleet Mortgages.
You can access the Buy to Let Hub, which is free to use, here: Buy To Let Hub – CoreLogic
2. Portfolio Landlords Questionnaire
To keep things simple, they have combined a simple business plan and cashflow forecast into an easy-to-complete questionnaire – only existing landlords are required to complete the questionnaire. The questionnaire will be available on the Literature section of their website on Friday morning.
Good to know
- There are no changes to their DIP or application system
- Portfolio applications will be assessed by dedicated Underwriters
- To minimise the underwriting time, please upload the Portfolio Landlords Questionnaire via Fleet’s Broker Portal before submitting the CoreLogic property schedule.