The product is ideal for landlords who wish to mortgage or remortgage a buy to let property that is rented but they can not show proof or bank statements of the rental income. A copy the tenancy agreement alone can be used to evidence rental with no further proof required.
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What are the features of this mortgage product?
Buy to let 1st charge mortgage without proof of income
No proof of rental income required
If you need to mortgage or remortgage a buy to let property and 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 can be used to evidence rental with no further proof required.
What type of properties does this mortgage product cover?
This mortgage 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 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 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.
There is no mortgage history required so First Time Buyers are considered.
Are 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