Buy To Let Mortgages For Self Employed
Our Buy to Let Mortgage Service
Special features of what we offer for self employed buy to let investors looking for finance include:
- Top Rates - Access to leading market mortgage rates
- Exclusive Deals - Access to rates not available on the high street
- Quick turnaround - speak to us today if you need to move quickly
- We have lenders who will take into account previous defaults and missed payments
- Looking to raise additional finance on top of your existing mortgage or buy to let mortgage? - we have access to a range of finance solutions
Buy to let Mortgages for Self Employed
Finding a buy-to-let Mortgage can be more complex if you are self-employed. Traditionally, securing a buy-to-let loan has proven harder for those who are self-employed, with lenders being more forensic about affordability. However, in the last 12 months buy to let lenders have becoem more relaxed in their criteria with a greater range of options now available.
How buy-to-let mortgages work
To all intents and purposes, a buy-to-let mortgage operates in a very similar way as a standard residential mortgage. You can choose from a range of buy to let mortgage offers, including fixed rate, variable rate, and tracker mortgage deals. However, buy-to-let mortgages can differ from residential mortgages in several key ways:
What you need to get a buy to let mortgage?
The truth is, there is no special ‘self employed mortgages’ that are offered by lenders. As a self-employed person you will be applying for the normal buy-to let mortgages as other people who are on a company payroll, the key difference is that it is usually more difficult to prove your income to a lender than someone who has a fixed salary.
In order to get a buy-to-let mortgage from a lender, you will need to prove your income to the mortgage lender. The more accounts you can show are more likely to strengthen your application, although a lender will typically want to see:
- Two years accounts - Some lenders will consider 1 years accounts.
- Good Credit History - A good credit history helps.
- Record of regular work - Different lenders will have different criteria on this.
- A strong deposit - Buy to let mortgages are seen as being of higher risk lenders generally require larger deposits, commonly requiring borrowers to put down deposits of at least 25% of the property’s value, although there are options available for smaller deposits.
Gain advice from a mortgage broker or independent advisor
Conducting your own research is vital when looking for the buy to let mortgage that suits you, however comparing the options available to you can often be overwhelming. That is why it is often a good idea to contact a independent mortgage broker to analyse your situation and give you assistance in achieving your mortgage goals.
If you think you may benefit from aid of an independent mortgage adviser, you can fill in our online contact form to request a call back from our buy to let advisory team, who can provide you with a free initial consultation about mortgages, or you can contact us directly on: 0117 403 4222: