Your home may be repossessed if you do not keep up repayments on your mortgage.
Whether you are an accidental or first time landlord, or a seasoned property professional with a prospering portfolio, our common sense approach to residential buy to let mortgages is designed to get you renting out in no time.
We've helped thousands of landlords over the last 50 years so we've seen every type of property and dealt with every scenario. We are specialists in dealing with non-standard properties, from those missing a kitchen or bathroom, all the way up to listed buildings.
If your rental income on the property doesn't quite cover the full Buy to Let mortgage repayment, top slicing will be considered. This allows applicants to top up the amount paid from rental income with surplus personal income. Additionally, we do not require applicants to own a personal residential property to qualify for a residential Buy to Let mortgage.
With house prices outstripping wage growth, 20% of all households in England now rent in the private sector – double the proportion recorded in the 1990s. This means there’s a lot more landlords than there used to be. If you’re hoping to join their ranks – whether to top up your pension, or give up your day job – our Buy to Let mortgages are made to match.
Sometimes the best buy-to-let properties are those that are a little unusual in their position, condition, or construction. We'll consider residential properties of all kinds.
We won't specify that you need a certain amount of experience as a landlord before we’ll consider you, or restrict the size or value of your portfolio. We welcome applications for everyone from private individuals and sole traders, to partnerships, limited companies and others.
If your rental income sufficiently covers your mortgage payments, we won't conduct any further affordability assessments. But if we have to, we'll take all of your income into account – including rent from other properties, or wages from your day job.
We can often lend when others won’t. We can consider your application, even if:
Do you want to understand the potential cost of your mortgage or loan?
We can give you an idea of the monthly costs with just a few details like the property value, your deposit amount and how long you need the loan to last.
Submit enquiryPlease contact us on 0161 956 3224 or book an appointment here to discuss our current rates.
It all depends on the legal process with your solicitors. We will get the offer in principle out to you on the same day of your application and your offer to your solicitor within a week if we have everything we need.
Once you’ve submitted your application to your relationship manager, your case will be submitted to our underwriting team for approval. Once approved the legal pack will be issued to your solicitor to complete the legal paperwork. Your solicitor will return this to our completions team, who will submit the case for final approval and funding.
In some scenarios, we may be able to utilise our in-house legal team to help speed up the application process.
We like to make your application as straight forward as possible. Not everyone’s circumstances will be the same and so we don’t ask for the same documents from everyone. Some standard documents we ask for are:
Your relationship manager will talk you through exactly what you will need for your application.
In most cases we can run a desktop valuation, meaning there will be no valuation costs involved. If we can’t run this for any reason, or doesn’t return as expected, that’s when we would need a full valuation.
Yes – we will just need some information about how you will be in a position to make the monthly instalments or discuss alternative products with you.
Lending decisions are based on a credit check and an assessment of your individual circumstance.
All mortgages are subject to our terms and conditions.