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Buy to Let Mortgages for Applicants with Proof of Personal Income

Buy to Let Mortgages Suitable for Applicants with Proof of Personal Income

There are a growing number of lenders who just need to see that an applicant has existing personal income sufficient to cover their expenditure. These lenders do not stipulate any minimum income requirement, so any amount of annual income can be accepted, subject to this being in-step with the applicant’s financial circumstances. These lenders are extremely useful for many employed people, or those with a second job, or self employed people with low net profits and retired people with modest pension incomes.

A wide range of properties can be accommodated, with mortgages available up to 85% of property purchase price (or property value for remortgages). Interest only is readily available and applicants do not need letting experience with some of these lenders.

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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
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Holiday home [any variations restricted occupancy?]
Property located in England Wales and Scotland

BTL for Applicants with Personal Income Under £20,000 pa

Buy To Let Mortgages for Applicants with Personal Income from £20,000 – £24,999 pa

Buy To Let Mortgages for Applicants with Personal Income from £20,000 – £24,999 pa

Most or our lenders will lend to applicants with personal incomes in this bracket. They will require proof of this personal income, which can include existing rental income, but not the rent to be generated by the BTL property to be purchased.

A wide range of properties can be accommodated, with mortgages available up to 85% of property purchase price (or property value for remortgages). Interest only is readily available and applicants do not need letting experience with some of these lenders.

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BTL for Applicants with Personal Income £25,000 & Over

All lenders will lend to applicants with personal incomes in this bracket. Most will require proof of this personal income, which can include existing rental income.

All types of property can be accommodated, with mortgages available up to 85% of property purchase price (or property value for remortgages). Interest only is available with virtually all lenders and applicants do not need letting experience with most of these lenders.

We can advise you and suggest a range of suitable options for you to choose from. We can email a full mortgage illustration for you to consider once you’ve chosen the mortgage you prefer.