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.
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What are the features of this secured loan product?
Buy to let 2nd charge mortgage without proof of income
No proof of income accepted
If you need a loan on 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 properties does this loan cover?
This product is suitable for any property type including semi commercial properties, ex local authority, flats above shops, maisonettes including High Rise, HMO & 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 apply?
Yes, this product is suitable for portfolio landlords who own more than 1 property and is available in England, Scotland and Wales.
Is there a minimum ownership time?
No, while some secured 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.
Adverse credit applicants accepted
Yes, poor credit applicants are considered including people who have had CCJ’s, missed payments, account defaults, discharged bankrupts, and applicants with a low credit score are considered. No credit checks or 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 scoring