It can be possible to find a lender who doesn't focus on your personal income as much when it comes to a buy to let mortgage. On the other hand. there are some who require you to earn at least £25,000 pa or more. Though there is the possibility to get a buy to let mortgage as a first time buyer/first time landlord, it can be simpler to get a buy to let mortgage if you are currently a homeowner. The Financial Conduct Authority does not regulate some types of buy to let or commercial mortgages.
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One of the main reasons why many landlords are starting their own limited companies is to purchase further properties for their portfolio. You will need to speak to an accountant if you think this is an option you'd like to take. A benefit of utilising the services of a trusted mortgage broker in Norwich, like ourselves, is that they have access to 1000's of buy to let deals that they can compare for both budding and existing landlords.
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Usually, the minimum deposit for getting a buy to let mortgage in Norwich is 25% of the value of the property However, this may be between 20-40% depending on your history as a landlord.
When it comes to borrowing for a buy to let mortgage in Norwich, it all depends on the projected rental income for the property. Furthermore, many mortgage lenders will want you to have your own income from either a main job or self employment.
Depending on the lender, you may not need to evidence your personal income for a buy to let mortgage in Norwich. Many lenders may want you to be earning £25,000 pa or more.
As long as you have substantial amount of equity within your property, you do have the option to release this equity by a remortgage in Norwich. This equity can be used as a deposit on a buy to let property. It's important to note that the deposit for a buy tot let is usually 25%, however, it can be between 20-40% depending.
There is a chance you will be able to get a buy to let mortgage as a first time buyer in Norwich. On the other hand, it can be difficult with many lenders favouring applicants who are already homeowners and have made mortgage payments before.
Going through the process with a mortgage broker by your side can be beneficial when it comes to understanding the options available to you and your circumstances. As a mortgage broker in Norwich, we can guide you through the buy to let mortgage journey utilising both your lengthy experience and rich knowledge. We also work hard in overcoming any hurdles you may face.
We provide a service that works around your busy work and family life in Norwich. We work around you.
We provide all our customers with a free mortgage appointment that has no upfront fees. You pay us upon mortgage success in Norwich.
All landlords have a dedicated case manager in Norwich with you throughout the process.
Whether you are a first time landlord or an existing landlord, our team will provide you with the support to obtain your first mortgage in Norwich.
We'll recommend appropriate insurance products, ensuring you can stay at home in Norwich, should you become seriously ill or unable to work.
As a mortgage broker in Norwich, we can find the cheapest deal for you, saving both your time and your money.
Through our experience in the mortgage industry, we have helped and built up relationships with many landlords who are looking to expand their portfolio,
When a customer contacts us for mortgage advice in Norwich, our team will help them overcome any mortgage hurdles like property survey and valuation problems.
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4.97 Rating269 Reviews
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
Michael
I can’t thank or recommend these guys enough. Highly professional, helpful and friendly from the outset - very knowledgeable and great customer service.
Edward
Great company to work with, very helpful and always prompt to answer any queries.
Michael
Great service! Quick and trustworthy!
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
Very helpful
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
