FAQ

When can I get a mortgage?

We are working to launch as soon as possible. We estimate that we should be able to start writing mortgages in late summer 2017. Make sure you register your interest with us and we will let you know as soon as the product is available to the market.

What interest rate will you charge?

We are working with our financial backer to be as cheap as possible. This will be materially cheaper than your average commercial mortgage product.

What is your maximum Loan To Value or advance rate?

We are working with our financial backers to make sure we have at least a 75% advance rate. Ideally, we would like to provide an 80% advance rate, but we need to work with our backers to show that this lending is sensible.

What is the maximum loan amount that you would advance?

We know that many of your properties will be in desirable areas within the UK which could mean large valuations. We are working with our backers to provide lending to multi million pound properties. For very high valuation properties (e.g. £2.5m plus) we would need to assess on a case by case basis what the appropriate advance rate should be.

Do you look at the short-term rental income, long term rental income or the landlord’s personal income?

We would look at all 3 and provide a holistic solution for you. If the asset cash flows don’t support the mortgage payments then we would look to the income of the landlord to see how affordable the mortgage payments are for the property & landlord.

I am a non-UK National. Will you lend to me?

Yes, subject to the usual background checks that we need to conduct as a lender.

Will you provide finance on my primary residence?

No. We are looking to provide finance on investment properties not primary properties.

Can you provide finance on an investment property so I can purchase another investment property?

Yes, subject to meeting our credit criteria.

I own a property in a special purpose vehicle or company structure. Can you provide me finance?

Yes, subject to meeting our credit criteria.

I live in London and am constrained by the 90-day rule. Will this mortgage work for me?

Yes, we have a very flexible product for the length of stay of guests/tenants. You can short term let for 90 days and then switch to a long-term rental. If you want to try short term lets in-between long term tenants then this product also works for you.

I have some additional questions

Please email to info@copofi.com and we will come back to you as soon as we can.