This product is ideal for those who are unemployed or perhaps self employed, own a new business and can not show full proof of adequate income. Self employed applicants can have less than 12 months trading, be a pensioner, retired or employed on a low income or part time basis.
What are the features of this mortgage product?
Buy to let 1st charge mortgage without proof of income
No proof of income accepted
If you need to mortgage or remortgage a buy to let property and do not have adequate proof of income then this product is for you. No proof of income is required, and the tenancy agreement can be used to evidence rental with no further proof required.
What type of property does this cover?
This product is suitable for any property type including semi commercial properties, ex local authority, flats above shops, maisonettes including High Rise, HMO property & Non Standard Construction. There is no minimum property valuation and uninhabitable properties with no one living in them are also accepted.
I have multiple properties can I still get this mortgage?
Yes, this product is suitable for portfolio landlords who own more than 1 property. Lending is available in England, Scotland and Wales.
Is there a minimum ownership time?
No, while some lenders will require you to have owned the property for at least 6 months, this is not the case with this lender. There is no minimum ownership time required.
There is no mortgage history required so First Time Buyers are considered. Loans can be arranged whereby there is no rental stress test requirement from the lender.
Adverse credit applicants accepted
Yes, bad credit applicants are considered including CCJ’s, missed 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% LTV.
- Adverse credit accepted
- First and second charges 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 check or scoring
Buy to let mortgages based on rental income only
If you need a mortgage based on rental income only and not your personal income then we can help. Our lender can assess your mortgage application based on the income you receive and only proof of income from a tenancy agreement is required.