- To 85% Loan to Value
- Common Sense Underwriting
- No maximum age for residential & buy to let mortgages
- No Credit Scoring Application for Some Lenders
- Adverse Credit Considered
Buy to Let
A buy to let mortgage is a mortgage for a property that you plan to let on a long term basis. There are a number of reasons why you may be looking to take out a buy to let mortgage:
- The wish to change your current home into a buy to let whilst at the same time buying a new home for you and your family – often called “let to buy” as you are letting out your existing home to buy a new one
- Purchasing a new buy to let property as an investment
- First time buyers wishing to purchase their first property as a buy to let
- Clients aged over 60 wishing to purchase a buy to let property using cash from their pension
- Remortgaging an existing buy to let property to release cash for home improvements, debt consolidation, school fees and other expenses
- Have the property let on a slightly unusual basis such as a long assured shorthold tenancy agreement (AST), corporate let, or local authority let
- They live or work overseas – and are classed as expats
- They have been declined on credit score or for adverse credit by a high-street bank
- Extending the length of their buy-to-let mortgage which may soon be coming to an end
Many customers are also looking to purchase buy-to-let property in the name of a limited company rather than their personal names – often called Limited Company Buy to Let or Ltd Co Buy to Let.
At RockHopper, we can look to assist clients with their buy to let mortgage requirements. We are often approached by customers for assistance in slightly unusual or non-standard situations. This could be that they have unusual income, wish to obtain a buy to let mortgage on a non-standard property, require to release equity from their existing buy to let for debt consolidation or another legal purpose.
At RockHopper we can look to assist clients looking to arrange buy to let mortgages either on a repayment or interest only basis. The minimum deposit requirement is 15% of the property value, but typically a deposit of 25% is required.
We appreciate everyone’s particular situation is unique, which is why we look at every enquiry on a case by case basis.
If you would like to see whether we can help you raise a buy to let mortgage on a property, do get in touch for a free no obligation quotation.