Simon Nicholson

Experly compared by Simon Nicholson

Products Updated June 18, 2018

Buy to Let Mortgages With No 6 month
Minimum Ownership

If you wish to take out a mortgage on a buy to let property with no minimum 6 month ownership rules or period then our experts can help. This product is suitable on a first or second charge basis for all credit types and properties. This mortgage product allows for immediate refinancing even if you have owned the property only for a short time.

Homeowners - Our award winning experts can compare the cheapest loan deals from over 19 approved Lenders. All credit types accepted:

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Your home may be repossessed if you do not keep up repayments on a loan or any other debt secured on it.

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All credit types
Rated 5.0/ 5

Smart Money Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£3,000 - £1,000,000

Representative APRC
From 3.9%

Loan Term
3 - 35 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 100%

Award winning broker of the year Smart Money have made it to the top of our list as our No 1 recommended provider for homeowner loans. Smart Money are not available direct to the public and so we are very pleased to be able to offer them here via Lending Expert.

Many mainstream buy to let lenders will require you to have owned a property for 6 months or more before you can mortgage the property. With this product there is no ownership period rule which means you can finance your property regardless of how long you have owned it. Also ideal for investors who wish to refinance and exist from a bridging loan.

>> Get a Quote on This Product Today From Smart Money

What are the features of this product?

Buy to let 1st and 2nd charge mortgage without proof of income

Poor credit accepted

Poor credit applicants OK

If you need a mortgage or to 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 the rental income without any further proof of income required. This product is suitable for self employed, and low income employees.

What type of properties does this loan cover?

This mortgage product is suitable for any property type including semi commercial properties, ex local authority, flats above shops, maisonettes including High Rise, HMOs & Non Standard Construction. There is no minimum property valuation and uninhabitable properties with no one living in them are also accepted with this lender.

I have a portfolio of multiple properties can I still get this mortgage?

Yes, 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?

No, 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.

There is no mortgage history required so First Time Buyers are also considered.

Adverse credit applicants accepted

Bad credit applicants are considered including 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

 

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