This buy to let product is ideal for applicants with low credit scores and dont wish to have a credit check. They may not have documentary proof of income or earnings due to unemployment, new self employment or who are employed with a low income or salary.
What are the features?
Buy to let 1st and 2nd charge mortgage without proof of income
Poor credit applicants OK
If you need to mortgage or remortgage a buy to let property and do not wish to have a credit check then this product is for you. No proof of income or credit scoring is required, and the tenancy agreement can be used to evidence the rental income without any further proof of income required.
What type of BTL properties does this loan cover?
This mortgage product is suitable for any property type of buy to let investment including semi commercial properties, ex local authority homes, flats above shops, maisonettes including High Rise buildings, HMOs (multiple occupancy) & Non Standard Construction. There is no minimum property valuation and uninhabitable properties with no one living in them are also accepted with this mortgage product.
Porfolio landlords accepted
This product is suitable for portfolio landlords who own more than 1 property and is currently available in England, Scotland and Wales.
Is there a minimum ownership time to apply for this mortgage?
While some mortgage lenders will require you to have owned the property for at least 6 months, this is not the case with this product and lender. There is no minimum ownership time required and finance is available immediately.
There is no mortgage history required so First Time Buyers are also considered.
Adverse credit applicants accepted
Bad credit applicants are considered including applications from people who have had CCJ’s, missed credit payments, account defaults, discharged bankrupts, and applicants with a low credit score. No credit scoring is required for this application.
What are the product details?
- Loans from £10,000 – £1,000,000
- Up to 75% Loan to value.
- Adverse credit applicants are accepted
- First and second charge loans available
- Ex-pats landlords accepted
- Any legal purpose including tax bills and purchase other properties and deposits
- Equitable charges available
- Capital and interest only available
- Up to age 80 at application
- No credit scoring required