Buy to let mortgage lenders
The largest buy to let lenders are
probably not mortgage lenders that most people will be
familiar with.
These buy to let lenders design their products around
the needs of the landlord. They are frequently the best
choice because their interest rates are competitive and
they are accommodating in their lending criteria.
The best buy to let schemes and lowest buy to let
interest rates are often the preserve of this group of
specialist lenders.
The best buy to let deals are often only available
through mortgage brokers such as ourselves. This is due to
the large volumes of business that we submit which enable
us to obtain discounted rates
We have listed below some of the larger buy to let
lenders:
Part of the Halifax - Bank of Scotland group of
companies. One of the more efficient lenders. Birmingham
Midshires will lend up to 85% of value. A mortgaged portfolio of up
to £5 million can be held within the HBOS group of
companies
Birmingham Midshires require that the main applicant
earns at least £10,000 pa.
Birmingham Midshires require that the rental
income should exceed 125% of the interest only mortgage
payments calculated at base + 0.75%
Birmingham Midshires offer a range of exclusive
mortgages that are only available through mortgage brokers
- please contact us for details of their current mortgages
Part of the Bradford and Bingley Group. Mortgage Express
are an efficient lender with a portfolio of competitive
products to offer. Mortgage Express will lend up to 85% of
value. A portfolio of mortgages up to £2m can
be arranged with Mortgage Express.
There is no minimum income requirement, but Mortgage
Express require a 3 year continuous employment history.
Mortgage Express require that the rental income should
exceed 125% of the interest only mortgage payments
calculated using the charge rate or 120% of any 5 year
fixed rate.
Mortgage Express will lend against properties that will
be let to students.
Mortgage Express offer a range of exclusive
mortgages that are only available through mortgage brokers
- please contact us for details of current products
Part of the Paragon Group. Will lend up to 85% of
value.
Rather confusingly their lending criteria varies
depending upon product chosen.
Mortgage Trust will accept multiple tenancies on some
of their schemes
Mortgage Trust offer a range of exclusive
mortgages that are only available through mortgage brokers
- please contact us for details of current products
Part of the General Motors Group of the USA! This
lender is rapidly establishing itself as an innovative and
efficient lender. They are now the 12th largest lender in
the UK
They will lend up to 89% of value against buy to let
properties.
No minimum income requirement.
They also will accept applicants that have had credit
problems in the past up to 80% of value.
GMAC will accept a minimum 100% rental cover providing
you are prepared to pay a higher arrangement fee. The
interest rate used in the calculation varies according
scheme type.
Platform Home Loans is a specialist lender that is part
of the Britannia building Society.
They will lend up to 90% of value against buy to let
properties.
Platform Home Loans require that the rental income should
exceed 125% of the interest only mortgage payments
calculated using their standard variable rate or any 3 year
charge rate.
Platform Home Loans offer a range of exclusive
mortgages that are only available through mortgage brokers
- please contact us for details of current products
next...buy
to let lending criteria
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