Talk to one of our mortgage experts on 0808 172 9354
Getting any kind of mortgage can be stressful enough. Working with a specialist mortgage broker can help you get access to unique deals, as well as expert advice.
Yes, it is entirely possible to secure a buy-to-let mortgage even if your credit history is poor. It will depend on your individual circumstances and what each lender categorises as “bad credit”. Getting a mortgage with a bad credit score won’t be as straightforward as if your score was good, but it is certainly possible with the right lender.
There are lenders out there who are willing to accept applicants with bad credit. Your application’s success depends on the type of bad credit you have, and other affordability factors. Lenders will look at the cause of the bad credit, and also how long it has been on your file.
It is unlikely that mainstream high street lenders will consider bad credit, so you may need to seek out specialist mortgage brokers who will be able to find deals that can’t be found elsewhere.
As with all mortgage applications, you will need to show that you are able to afford the repayments. Buy-to-let affordability models are based on your projected rental income, and your individual financial circumstances.
With a Mortgage Experience adviser on your team, you can sit back, relax, and make yourself a cuppa, safe in the knowledge that we will be doing all the heavy lifting to find you a suitable mortgage with the best rates available. This gives you more time to pack, and well, do the actual physical heavy lifting (should you wish) as you move into and enjoy your new home or the financial benefits of your remortgage.
Get In TouchA buy-to-let mortgage with bad credit is no different from an ordinary buy-to-let mortgage, which is when a property is bought as an investment rather than somewhere to live. If you are planning to rent out the property then you won’t be able to purchase the property with a residential mortgage.
The affordability criteria for a buy-to-let mortgage is based on the rental income you expect to receive, and if you will be able to cover the monthly repayments with that. Many lenders will consider someone at retirement age or over to be more responsible to lend to. Some lenders will have a maximum age of the end of the mortgage term of 100, whereas others will have no maximum age. It’s simply about finding the right terms for you.
*Note: Do not enter any symbols, commas or letters. Enter simple numbers only. These figures are only illustrative. All mortgages are subject to the applicant(s) meeting the eligibility of the specific lender. An assessment of your needs will be confirmed before a recommendation can be made.
Looking for a mortgage or remortgage? Whatever your circumstances may be compare and enquire about our best buys today.
Mortgage Best Buys
We are on a mission to make mortgages simple and possible! Learn more about our personal approach to specialist mortgages.
About Us
Want to chat at a time that suits you? Simply arrange a callback.
Let’s chat. Speak with a mortgage specialist online now. Click the icon at the bottom right.
Not found the answer you were seeking? Search our FAQs.
Copyright Mortgage Experience. All Right Reserved.
Site design by Amplify Sales
Wordpress Support by Amplify WordPress