Most lenders regard this as a person who owns their own home (usually for the last 6 months) and has not owned previously a buy to let property so the application is their first to buy to let mortgage. These are cases that we can arrange solutions with a number of lenders we have access to.
A first time buyer who does not own their own home and has never owned a buy to let property is a much more difficult case to arrange as very few lenders willing to consider these cases but we may be able to assist if your circumstances are very strong. You cannot live in a property you own when it have a BTL mortgage secured on it.
Advocate Finance have access to a large selection of lenders that will consider first time buy to let applicants.Limited Company mortgages are available and HMO mortgages are even possible from a few lenders (although the vast majority of lenders lenders still require some experience as a landlord for 1 to 2 years before they will consider a HMO application). Inherited properties can also be considered. Refurbishment loans are available for new landlords looking to undertake works if the property is not in a lettable condition. Our expertise has assisted numerous first time landlords grow from their first buy to let property to becoming professional portfolio landlords.
Key Information and Benefits
- Speak to a consultant today for a free personal consultation and they will handle your case from enquiry to completion
- Flexible and creative financing solutions to meet your needs from our panel of 100+ lenders
- Loans/mortgages from £100,000 to £20 million (smaller loans only considered in exceptional circumstances)
- Market leading interest rates. The actual interest rate will depend on the risk, quality of the credit profile and the purpose of the loan/mortgage
- Lowest overall cost of financing will be considered for your individual case
- All incomes levels, evidence of income, credit histories and funding requirements will be considered
- High loan to values available 100%+ funding can be achieved with additional security or by introducing more than one lender to a case
- Financing terms can be short term (a few months) or long term (many years) to suit your needs.