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.
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What are the features of this product?
Buy to let 1st and 2nd charge mortgage without proof of income
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