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Specialist Buy to Let mortgage advisors.

Need help navigating Buy to Let? It’s easier than you think. Contact our team of professional landlord mortgage advisors and let us take the strain.

Your home may be repossessed if you do not keep up repayments on your mortgage. When The Bank Says No is a mortgage broker, and not a lender.

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Commercial Mortgages

Are you looking for commercial mortgage with low credit score? Our dedicated team of expert mortgage advisors is ready to help you

Buy To Sell Mortgages

Looking to get Short-term mortgages for property investors? Our mortgage advisors are here to help you secure the right product for your needs.

Buy To Let Mortgages

Are you looking for mortgage lenders, but have a low credit score? Our team of specialist mortgage advisors are here to show you what can be done.

Advice For Low Credit Mortgages

Feeling low about your low credit score? The right mortgage for you is just around the corner. Our expert advisors are here to help you find it.

What is a Buy to Let mortgage?

A Buy to Let mortgage is a type of mortgage you can use to purchase an investment property that you intend to let out to tenants. Most Buy to Let mortgages are interest only, meaning the monthly mortgage payments only pay off the interest charges, not the original capital.

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Easy breezy Buy to Lets.

Buy to Lets can be a bit more confusing than your standard residential mortgage. If you have bad credit or are considering Buy to Let for the first time, you might be getting worried that your property owning dreams are out of reach. Don’t fret. Our friendly and approachable team of mortgage advisors are here for you – guiding, advising, reassuring. With us, you can proceed with your future plans – informed, confident, and with the right mortgage deal.

 
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We can support you and help you to make yourself as attractive to banks as possible, ready for your next application!

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Finding The Best Buy To Let Mortgage Deal For Your Circumstances

If you are looking for a Buy to Let mortgage, our team of expert advisors can help take the stress out of the process. Maybe you’re a first time buyer, maybe you have bad credit. Worse, maybe you’ve been declined from a high street bank already! Never fear; our friendly team are ready to step in, and find the mortgage deal you’ve been waiting for. Whatever your circumstances, we can assess the market on your behalf and find a lender more suited to your future plans. To us, nothing is more important than helping our clients achieve their mortgage against all the odds.

What happens at the end of a Buy to Let mortgage if I pay interest only?

Most Buy to Let mortgages are interest only. That means at the end of your mortgage term, you still won’t have touched the original capital borrowed. As a result, you’ll need to find a way to repay this loan in full. You can make payments in addition to your interest only payments during the mortgage, so if you have done this there may be less to pay. Options for repaying the mortgage might include using funds from other investments, savings, or remortgaging the property.

Turning Your Nightmares Into Dreams

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When you think you’ve hit that brick wall and have all but given up hope of finding mortgage finance, When the Bank Says No are here to turn your ‘No’ into a ‘Yes’. We have access to a range of specialist lenders who are willing to help those that the High Street banks just won’t touch. Get in touch today and see how we can turn your dreams into a reality.

What are the benefits of Buy to Let interest only mortgages?

The main reason why people choose Buy to Let interest only mortgages is that monthly payments are typically lower because you are only paying the interest on the loan in contrast to conventional repayment mortgages. For landlords, this can provide greater flexibility and even boost your tax efficiency, though the amount of tax you can save is changing.

What deposit do I need for a Buy to Let mortgage?

Most lenders require a higher deposit for this type of mortgage than standard residential ones. This is typically 25% minimum, and is reflective of the higher risk these properties present to lenders. What this means is that you can get a loan for a maximum of 75% of the property’s value. If you don’t have a deposit of this size, you could consider saving up and holding off on the property search or contact our professional mortgage brokers. We have access to specialist lenders who may be willing to provide a loan at 80% Loan to Value. It should be noted, however, that these deals are usually reserved for those borrowers with previous landlord experience.

Frequently Asked Questions

Why should I choose interest only for my Buy to Let mortgage?

A Buy to Let interest only mortgage can free up your monthly finances to invest, complete renovation work on your property, and even borrow more money and buy a larger property in the first place. This can increase the amount you can charge for rent. If you don’t like the idea of not repaying your mortgage by a set date, you might want to look at a repayment Buy to Let instead. Talk to our team of mortgage advisors and we can discuss the best type of mortgage for your circumstances and future plans.

Yes! Though bad credit is never ideal, there are specialist lenders who will approve Buy to Let mortgages even if the borrower has a poor credit history. There might be fewer options than if your credit score was high, but that’s not to say you won’t find a suitable deal. If you want to discuss your credit situation and get the advice you need to proceed with confidence, talk to us today.

No, you typically cannot live in a property you have purchased with a Buy to Let mortgage. This would be considered fraud because it is a serious breach of the terms of your mortgage. If you want to buy a property to live in, your best bet is to take out a standard residential mortgage. If you already have a Buy to Let mortgage but now want to move in to your property, you should consider remortgaging instead. Our friendly advisors can help you with this process – talk to us today!

Not really. It might be tempting to let a family member live in your new property at a reduced rent to help them out, but doing so could be a breach of your mortgage terms. If you know you want to let to immediate family, you should consider taking out or converting to a regulated Buy to Let mortgage instead. The only instance in which you can let to immediate family on a standard Buy to Let mortgage is if they will occupy less than 40% of the property.

First time buyers can get Buy to Let mortgages, though they might face stricter terms, have fewer options, and be required to put down larger deposits. This is because you’ve yet to own a property, let alone experienced what it means to be a landlord. As a result, many high street lenders will view your proposition as high risk. First time landlord and looking to get started? Contact our team today!

Expert support for Buy to Let mortgages.

When the Bank Says No is a team of professional mortgage brokers with years of experience helping landlords access the right Buy to Let mortgage for them. We are specialists in helping supposedly ‘non-standard’ clients achieve the finance they need to buy their property, and never shy away from a challenge. Whether you have a small deposit, adverse credit, or a previous mortgage rejection on your hands, we’re ready to step in and guide you through the process.

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