There will be some lenders who take less of a focus on your personal income when it comes to a buy to let mortgage, whereas others will require that you earn at least £25,000 pa or more. It is much easier to get a buy to let mortgage when you already own your own home, but it is possible to be a first time buyer/first time landlord combination. The Financial Conduct Authority does not regulate some types of buy to let or commercial mortgages.Get Started
We find that more and more landlords are starting their own limited companies as a means of purchasing additional properties for their portfolio. You will need to speak to an accountant if you think this is an option you'd like to take. Being an expert mortgage broker in Oxford, we are able to compare 1000's of buy to let deals for both new and existing buy to let landlords.Apply Now
Typically speaking, the minimum deposit for obtaining a buy to let mortgage in Oxford is 25% of the value of the property in question That being said, depending on your history as a landlord, this amount may vary somewhere between 20%-40%.
The amount that you can borrow for a buy to let mortgage in Oxford will be determined by the projected rental income for the property. Additionally, the majority of mortgage lenders will require you to have your own income from either a main job or self employment.
There are some lenders may not be so interested in looking at your personal income for a buy to let mortgage in Oxford, whereas others will want you to be earning £25,000 pa or more.
If you have a suitable amount of equity within your property and can release this equity via a remortgage in Oxford, this can be used for a deposit on a buy to let property. Remember, the deposit for a buy to let is typically 25%, though can be somewhere between 20%-40% depending.
To answer this simply, yes, you may be able to obtain a buy to let mortgage as a first time buyer in Oxford. That being said, it can be challenging, and the majority of lenders will prefer that an applicant who is a current homeowner, over someone who hasn't made mortgage payments before.
By having a mortgage broker by your side will give you the chance to be informed of the options that are available to you based on your financial and personal circumstances. Being a mortgage broker in Oxford, we are able to use our extensive experience to guide you through the process and help you get ahead of any mortgage hurdles in your way.
We're flexible around your busy work and family life in Oxford, we'll be there when you need us.
No upfront fees payable, you only need to pay us upon mortgage success in Oxford!
Whether it's a mortgage administrator or a mortgage advisor in Oxford, you'll always know who you are dealing with.
We’ll be to support both new and existing landlords throughout the entire process of obtaining a mortgage in Oxford.
We'll recommend appropriate insurance products, ensuring you can stay at home in Oxford, should you become seriously ill or unable to work.
As a mortgage broker in Oxford, we can find the best buy to let deal for you, saving both your time and your money.
Having been in the industry for over 20 years, we have helped many landlords obtain a buy to let mortgage. There's hardly a situation that we haven't come across before.
When you get in touch for mortgage advice in Oxford, we'll help you with any mortgage hurdles that you face along the way, such as property survey and valuation problems.
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