This buy to let product is a solution for property owners who wish to exit a short term bridging loan and refinance onto a buy to let mortgage without having to owned the property for at least 6 months. This mortgage product allows for instant refinance we no minimum ownership time requirements.
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What are the features of this mortgage?
Buy to let product 1st charge mortgage without proof of income
Adverse credit accepted
If you need to mortgage a property from a bridging loan and you do not have adequate proof of rental income or earnings then this product is for you. No proof of income is required, and the tenancy agreement (AST) can be used to evidence rental with no further proof of income required.
What type of properties is this mortgage suitable for?
This mortgage 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.
I have multiple properties can I still get this mortgage?
Yes, this product is also suitable for portfolio landlords who own more than 1 buy-to-let anywhere within England, Wales and Scotland.
Is there a minimum property ownership period for this product?
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.
Are low credit scoring credit applicants accepted?
Yes, bad credit applicants are considered including CCJ’s (county court judgements), IVA’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% Loan-to-value.
- 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 or credit check required