We think looking at your individual situation, combined with our common-sense approach to lending, makes better sense for everyone.
Bye-bye to restrictive buy-to-lets
If you need finance – whether a mortgage, remortgage or second charge secured loan – on a buy-to-let property, talk to us. Why? Because you can use our unregulated mortgage for almost any purpose.
We’re one of the few lenders offering second charge buy-to-let, particularly interest-only second charge buy-to-lets. Plus, we also consider a large variety of property types, and have more flexibility when lending to people with less than perfect credit histories.
We’ll consider buy-to-let mortgages for:
- ex-council houses, flats and maisonettes
- high-rise properties (yes, even ones above 6 floors)
- properties with poor valuations (when the property is in a less than perfect condition)
- non-standard constructions (when the property you want is a little out of the ordinary)
- normal brick-built houses, flats and maisonettes
- 120% rental calculation
- First and second charge available
- Fixed rate option available
- Adverse credit profiles considered
- Interest-only options available
With added value
We consider a large variety of property types. And after 5 years, we don't hit you with early repayment charges if you want to pay off your mortgage early, so you’re not tied into the buy-to let mortgage for the full term; leaving you to think about your next project.
10 steps to getting an unregulated buy-to-let mortgage
- We’ll discuss your circumstances with you and what you need.
- Once confirmed, we’ll help you complete an application form.
- Underwriting will review the application and complete a Credit Check. To do so, we’ll need various documents from you including ID and proof of income.
- If everything is ok, we’ll arrange a valuation.
- Valuation returned and will be checked by the underwriting team. If ok, we’ll instruct our solicitor.
- Your solicitor receives the legal documentation.
- Once all the paper has been sent back, our solicitor will complete the Report on Title.
- Our solicitor team will review the ROT.
- At this stage our underwriter team will complete a full review of the file in preparation for funding.
- We’ll transfer funds to your solicitor and you're good go
Our lending criteria
- Loans available from £5,000 to £500,000 (above this by referral)
- For loans 65% LTV and below, rates start from 6.99%
- For loans above 65% LTV, rates start from 7.99%
- Credit profile – we accept CCJs and Defaults (even in the last 12 months)
- 120% rental coverage ratio – you can use other income sources if rental is insufficient
- No maximum age
Our lending criteria
To qualify for this product, as a minimum, you must:
- have obtained the property with the express intent to let it out – in other words, you obtained the property for a business purpose. As such, the regulated Consumer Buy-to-Let product is not suitable for your circumstances.
- be at least 18-years old. There’s no maximum age limit, providing rental income covers 120% of total secured lending repayments.
- have no more than 6 demerits on your credit profile in the last 12 months.