- Multiple Tenancy Agreements
- Buy to Let
- Purchase & Remortgage
- To 85% LTV
- Repayment & Interest Only
- Licenced HMO’s Considered
- Professional Landlords Considered
Buy to Let Multiple ASTs
A Buy to Let with tenancy agreement typically refers to a buy to let property where the property is let on a room by room basis. A typical example would be a three bedroom house rented to three separate individuals who each have their own Assured Shorthold Tenancy (AST) agreement.
Clients who are looking to obtain a mortgage on this type of property typically tell us that having multiple tenancy agreements allows them to receive a greater rental income for the property than if it was let on a single AST. Additionally, it gives young sharers more flexibility in moving sharers into/out of the property as their requirements change e.g. job location etc.
We work with a number of lenders that are happy to consider these types of properties on standard buy to let mortgage rates as long as there is no HMO (House of Multiple Occupation) license required by the local authority.
We also work with a number of lenders that are happy to consider properties let on individual ASTs where the property is a licensed HMO, although the mortgage rates are typically higher than standard buy to let mortgage rates.Read More >>
Clients have told us that they may have approached their own Bank/Building Society for a buy to let mortgage on a property with multiple assured shorthold tenancy agreements and have been declined purely because the property is not let on a single tenancy agreement.
Clients approaching us to arrange a buy to let mortgage with tenants on individual ASTs are often frustrated, that although their plans make sense, they have spoken to a number of lenders who will simply not consider a mortgage because of the type of tenancy agreements at the property.
At Rockhopper we understand that every case is different and that no clients are ever the same. That is why we apply a common sense approach to assessing whether we can assist.
If you would like to see whether we can help you raise a buy to let mortgage on a property with individual tenancy agreements, do get in touch for a free no obligation quotation.