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Buy to Let Mortgages for Applicants with Low or Without Personal Income

Buy to Let Mortgages Suitable for Applicants with Low Income

Most lenders will not consider applicants who have no personal income. However, there are situations where applicants while not having earned incomes do have large savings, or a lump sum capital, and want to invest in the property market for investment purposes.

These individuals can be students with a cash gift from parents, a housewife/homemaker, someone recently made redundant, or just taken early retirement etc., in fact anyone who has capital to invest in UK residential property. The lender will not require a guarantor and will not require a second property as additional security. They will just secure their mortgage as a 1st charge on the property being purchased.

A wide range of properties can be accommodated with maximum loans available up to 85% of value for properties being purchased at below market value*. Lending restrictions are shown below:

BTL-10 – Maximum loan is 70% of purchase price and there is a maximum term of 2 or 3 years, or a longer term of 4 – 5 years. The minimum property value is £200,000 and the minimum loan size is £100,000. Properties accepted in England only.

Situational Profile

Information for applications, information is missing needs adding here.

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Applicant Profile

Information for applications, information is missing needs adding here.

  • Homeowner or owned a Buy to Let property for 12 months
  • UK passport or UK driving licence as ID
  • Evidence of deposit funds and refurbishment costs
  • Applicants can be Employed, Self Employed
  • Previous experience of similar developments

Types of Property

Details about types of acceptable property here, more information needed.

  • Self Contained Flats
  • Must be leasehold title
  • Flat must have its own entrance
  • 4
  • 5
  • Property located in England Wales and Scotland

General Lending Criteria: Flats Above Commercial Property

Lending details

  • Purchases or Remortgage
  • Interest only or capital + interest repayment
  • Up to 85% Property Value
  • Up to 70% of purchase price

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Buy to Let Mortgages as Low as 1.44%PA