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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Hannah
The whole team at UK Moneyman have been so friendly and helpful, whilst also providing an excellent service and securing me a mortgage offer really quickly. Even when there were questions and changes, they went over and above to help and always came...
Sarah
Fantastic service from Tom Bowes
Brooke
Excellent service, great communication & highly professional
Khristopher
Malcolm and Meghan did a great job with my application which due to a chain breaking down had to be done for two different properties, was kept informed throughout and they made me aware of changes in the market i didn't know about. Would...
Hilary
Matt and Wendy worked tirelessly and creatively to reach a great mortgage outcome for me in what was a less than straightforward journey. The commitment and advocacy was fist class and communication, always excellent. Matt really earned his broker...
Nina
I'm very happy with the services UK Moneyman have been providing during my buying process so far. I'm a first-time buyer so it was very important to me to have a mortgage broker who could answer all my questions in a timely and...
Stuart
Great team who works to get you exactly what you need, they made the whole process smooth and painless, so I would highly recommend them.
Danielle
I honestly couldn't have asked for a better service with UK Moneyman! I have been working with Charlie and Wendy! They have been SO helpful throughout the whole process and so supportive, never a hassle for them when I've been bombarding...
Clair
Informative, friendly, helpful and efficient service.
Katie
Really glad I went with UK Moneyman for my first mortgage, explained everything to me so well and was always on hand when I needed them as I work long hours at weekdays so having appointments on the weekends was so helpful for me, would definitely...
Natalie
Tom and Chloe were super helpful with our first time mortgage. We had a couple of properties fall through but Tom was there to help and guided us through the whole process.
paul
I think anyone would have difficulty finding a more helpful and friendly Financial Advisor. We used them to find a suitable later life mortgage and their effort and persistence in the face of some difficulties (caused by our particular...
Anonymous
Good advice and a professional hand both made the process seem effortless. Full marks for a service and result!!
Christopher
Wayne and Paula have been very helpful in helping me purchase my first house would highly recommend them to anyone wanting a mortgage advisor! Wayne was also very flexible with time as I have very odd working hours and worked out a time for phone...
Carol
Excellent service, Tom and Lynsey were responsive and extremely helpful including in resolving issues of transferring the offer to another property when the seller of the first property I was buying pulled out.
Marco
It's the 3rd time I've dealt with the team at UK Moneyman, as before they have been informative, punctual, detailed and a pleasure to deal with. I couldn't reccomend them more highly.
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
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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
