First-Time Landlords

Helping you lay the foundation for success in the buy-to-let (BTL) market

In spite of recent government action, buying a property to let still presents a great opportunity to build wealth.  However, lenders are cautious about giving loans to new landlords because of their lack of experience and value of assets.  Other criteria that affect lenders’ decision to lend for BTL purposes include: borrower’s credit history; borrowers’ status (e.g. do you have an existing residential mortgage, are you a UK resident); location of rental property (e.g. is it close to amenities); amount of rent that is realistically achievable; and the borrower’s age (e.g. some lenders have minimum and maximum age requirements).

This means that identifying lenders and securing a BTL mortgage is usually more challenging than sourcing a standard residential mortgage.  Therefore, it is recommended to use the services of mortgage brokers who have access to whole market and are experienced in securing BTL deals, even those for unconventional situations.  Contact us today find out how we can help you expand into the BTL market.