You'll find that there are some mortgage lenders who are less focused on your personal income when you are looking to take out a buy to let mortgage, whereas there may be others who will require you to be earning at least £25,000 pa or more. It's generally a lot easier for existing homeowners to obtain a buy to let in Canterbury, though it may still be possible to do so if you are a first time buyer, first time landlord. The Financial Conduct Authority does not regulate some types of buy to let or commercial mortgages.
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We're more and more frequently seeing landlords forming their own limited companies as a way for them to buy additional properties in their portfolio. If you are looking to take on this as a potential option, you will need to speak with your accountant. As an expert mortgage broker in Canterbury, we have the ability to compare 1000s of different buy to let deals, allowing us to find the best deals, whether you're a new landlord or an existing one.
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As a general rule, you'll most likely need at least a 25% deposit in order to obtain a buy to let mortgage in Canterbury. If you are a less experienced landlord, this may be higher, often being between 20-40% deposit instead.
When you are looking to obtain a buy to let mortgage in Canterbury, the amount that you are able to borrow will depend on the projected rental income that you could be making from the property. In addition to this, most mortgage lenders will want to see that you have an income of your own, outside of this, such as a main job or self employment of some kind.
You'll find that there are a handful of mortgage lenders who may not be so keen to look at your personal income for a buy to let mortgage in Canterbury. Those who will want to see this, will be expecting you to earn around at least £25,000 per annum.
If you have a substantial enough amount of equity sitting in your property and are able to release this equity by way of a remortgage in Canterbury, you can use this equity towards the deposit for your buy to let purchase. Remember though, that the standard deposit for a buy to let property purchase, is around 25%, though this can differ based on your circumstances.
The simple answer to this would be to say yes, you may have the option of taking out a buy to let mortgage as a first time buyer in Canterbury. That being said, it can be quite a challenging process and you will come to realise that the vast majority of lenders would much rather lend to someone who is experienced in making monthly mortgage payments, over somebody who is not.
The benefit of entrusting a mortgage broker in Canterbury to help you with your buy to let purchase, is that you'll have an experienced mortgage advisor to review your case, match you up with the appropriate lending criteria and find you the best deal that is out there for you. As an open & honest mortgage broker in Canterbury, we are able to use our mortgage world experience to support you every step of the mortgage process, overcoming any obstacles that are in your path.
We offer a flexible service, working around your busy work and family life in Canterbury. We're always here when you need us.
Absolutely no fees upfront, we are only paid upon results, when you obtain your mortgage in Canterbury!
From our hard working mortgage administrators, to our professional mortgage advisors in Canterbury, you'll always know who you are working with.
We’ll be on hand to provide support to both new and existing landlords throughout their process of obtaining a mortgage in Canterbury.
We'll recommend to you any appropriate insurance products, allowing you to remain at home in Canterbury, in the event you become seriously ill or unable to work.
As an open & honest mortgage broker in Canterbury, we can search for the best deal for you, saving your time and your money.
There likely aren't many situations we haven't come across in the past, your mortgage advisor in Canterbury will understand your needs as a buy to let landlord.
When you book in for mortgage advice in Canterbury, we'll help you overcome any mortgage hurdles, such as property survey and valuation problems.
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Suzanna
Excellent communication from start to finish. Highly recommend.
Rasheda
Very friendly and provided all the information I needed.
Pauline
Very pleased with Allen’s professionalism , he was able to answer all my questions to my satisfaction
Paul
Excellent experience all around, used for two mortgages and will use again
Lee
Absolutely brilliant both Matt & Stacey. Really clear with us what our options were. Will use again when i need to find another mortgage.
Ryan
Chloe and Tom were very helpful and informative throughout and very knowledgeable we would recommend UK moneyman to any first time buyers
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Jennifer
Excellent service from both Leo and Meghan who we feel went above and beyond to help us get our first mortgage, even when faced with some very unforeseen changes! They made the whole process extremely easy and understandable. We have already...
Keyuri
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Shaun
Excellent service from the team, were very informative throughout the process even when we had to swap the house we were purchasing resulting in a new mortgage application.
Ian
Excellent service from Wayne and Stacey. Wayne took time to explain everything and reran mortgage calc a number of times as my property search went on which was much appreciated. Stacey was also extremely helpful, informative and quick to respond to...
Liam
Incredibly helpful from start to finish, gave me all the information I needed and made the whole process much easier
Mark
Megan and Wayne have been great throughout. Both really easy to work with and on top of things at every step of the process. Thanks a lot.
Anonymous
Excellent service by Malcolm, Paula & Meghan. We completed our purchase last week in what was supposed to be a very difficult case due to my bad credit and limited trading history as a director of LTD company. UKmoneyman dug out a lender that...
Jasmine
Very good service received. Wayne is very knowledgeable and helpful especially with me been a first time buyer. Also very accommodating with timings and I was able to have chats later on a night to fit my schedule. Very supportive all the way...
Joseph
So far so good ! The first point of contact was lovely, made me feel at ease and very knowledgeable.
Callum
Absolutely fantastic service from the start, in helping getting a mortgage. Charlie always replied to my messages as quickly as possible and was very clear, thorough and calming through the whole process, cutting out a lot of worries had I not used...
Jonathan
Great help from the team, helped find exactly what we were after, and was an easy straight forward process. Being self employed it can be tricky however there were no problems with the help and advice we received.
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UK Moneyman Limited is Registered in England, No. 6789312
Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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UK Moneyman Limited is Registered in England, No. 6789312
Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
