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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.
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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Derek
They were great when handling our mortgage application even though it was a bit different to the normal one. Highly recommended
3 days ago
Michelle
The team at UK Moneyman have been excellent, really informative, providing sound advice with no judgement and supporting the best possible way forward for myself. I would definitely use the team again, they’ve made the whole process simple and...
2 weeks ago
Lawrence
Great company to work with, very helpful and excellent communication. Chris and Jo did a great job with our application. I highly recommend.
2 weeks ago
Gemma
Excellent speedy service and always available to work around the best times for us, including calls at weekends
1 month ago
Gillian
Having dealt with Leo previously I knew I would be getting a brilliant service and a good deal.
1 month ago
Karen
Very helpful.Quick response to any questions or concerns. Selected the right product to meet our requirements.
1 month ago
Stephen
We went to the Moneyman to start with regarding a new mortgage only which went really smoothly and everything was explained in simple terms at our request Malcom made it feel at ease . Once i had the confidence with them we asked them to help with...
1 month ago
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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
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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