Whilst assessing your buy to let mortgage application, some lenders will want to see that your income is at least £25,000 pa, whereas others will not focus on your personal income and advance your application once you have evidenced your deposit. The deposit that you will need to supply is usually between 25%-40% of the buy to let property price. This can differ depending on the size of your buy to let portfolio. It can be much easier to get a buy to let mortgage as a current homeowner, however, if you are a first time buyer and want to invest in property, it can sometimes be possible to get a buy to let with no experience buying a property. This is a very specialist topic and it may be best to get buy to let mortgage advice in Southampton. The Financial Conduct Authority does not regulate some types of buy to let or commercial mortgages.
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More and more landlords are establishing their own limited companies as a means to grow their property portfolio. We would advise that you speak with an accountant if you think that this option is for you. As a buy to let mortgage broker in Southampton, we can access 1000s of buy to let products via our huge panel of lenders. It is just a case of finding the right one for you and your personal and financial situation.
Apply NowHow much deposit do I need for a buy to let in Southampton?
Most lenders will expect a minimum of a 25% deposit for your buy to let property. This percentage is taken from the value of the property. Depending on factors, such as the size of your existing buy to let portfolio, this can total can vary somewhere between 20-40%.
How much can I borrow for a buy to let in Southampton?
How much you can borrow for a buy to let in Southampton is worked out through your projected rental income for the property. It is also important to know that the majority of mortgage lenders will need applicants to have their own income through a main job or self employment.
How much do I need to earn to get a buy to let mortgage in Southampton?
Some lenders may not be interested in your personal income if you have the deposit in place. On the other hand, some will want you to earn a minimum of £25,000 pa or more.
Can I use the equity in my house for the deposit of a buy to let in Southampton?
It all depends on the amount of equity in your property. Some landlords may let you release some of this equity in the form of a remortgage to use on a buy to let property in Southampton. Usually, lenders will still be looking for a minimum of a 25% deposit, but in some cases, this can be 20-40%.
Can I get a mortgage on a buy to let in Southampton as a first time buyer?
As a first time buyer, it may be slightly more challenging to obtain a buy to let mortgage, however, it is not impossible. Most lenders would favour an applicant who is a current homeowner over someone who hasn't made mortgage payments before.
Why use a mortgage broker in Southampton?
A mortgage broker in Southampton will work alongside you throughout the whole process. We will give you clear and beneficial advice leading up to your mortgage application to give you the best chance of being accepted. Having your own dedicated buy to let mortgage advisor in Southampton will be extremely beneficial for your case. We have been working with landlords for over 20 years now and know the ins and out of buy to let lending criteria in Southampton.
We work to fit your schedule. Book your mortgage appointment at a date and time that best suits your personal and working life.
No upfront fees, no-nonsense; give our team in Southampton a call today.
From start to finish, your case manager and buy to let mortgage advisor will be on hand to answer questions that you have along the way.
We love the fact that we are able to help so many applicants achieve their buy to let aspirations. Take a look at our reviews to find out how others have valued their experience with us.
So that you and your family are covered, your buy to let mortgage advisor in Southampton will make sure that you have the correct insurance and protection in place.
As your buy to let mortgage broker in Southampton, we will try and find you the perfect product that matches your personal and financial situation.
It's rare to find a situation that we haven't come across. Don't hesitate to get in touch, our mortgage team in Southampton are here to help!
We may encounter some hurdles along the way, but we love a good challenge! We will try our best to get you through the buy to let mortgage process, no matter what situation you are in.
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4.97 Rating246 Reviews
Hasan
excellent service
Anonymous
My initial interaction with Faye from UK money man has been really personable and I felt like she understood my needs very well. I’m hoping they can help deliver what I need and I didn’t feel any pressure to have to go further with my...
Rodrigo
UK Moneyman have been super helpful and reliable. Have always been able to count on them getting back to us quickly and made us feel comfortable checking anything out we were not really sure about. They made the whole process as easy and hassle free...
Steph
The team were fantastic, in finding the product for me. Jo also walked me through what to expect when purchasing your first home I.e. time frames, and answer my many questions. Also their after care has been great, checking in on how the purchase is...
Luke
Myself and partner used UK Moneyman for our first time buyer mortgage. We’ve had round the clock care well above the norm. Multiple routes forward regarding which mortgage to go for with lots of information to help prepare us through the...
David
I cannot thank the UK Moneyman service enough. Securing a mortgage meant more than just that to me, it was – is - a life chance. However, because of my credit history, I didn’t think that it could be done. Right from the start of the...
Nathaniell
Leo and Kayleigh have been great from the first phone call that I made to them. They have both helped us each step of the way and it has been a great comfort to my wife and me that everything had been taken care of by them both. We will definitely...
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Ryan and Kayleigh were incredibly helpful and always available to answer our questions whenever we needed - and we had a lot of them as we are first time buyers who didn't have a clue about any of the process to begin with! They secured our...
Danielle
UK money man where so helpful. Chloe and Joe was amazing with us. Stayed in contact with us giving advice and updates, so glad we chose UK money man! Thanks for all your help.
Anonymous
Amazing, when ne and my partner first looked into buying a house, we had no idea about how to get a mortgage or anything. Moneymen were extremely helpful all the way through and sorted everything smoothly and efficiently! Very happy, will use again...
Rebecca
We’re so glad that we decided to use UKM to help us through the process of buying our first home, they took most of the stress off our shoulders and we’re always there to answer any queries. Would definitely recommend them to anyone...
Thorsten
I found Dinah at Harrogate Moneyman to be extremely supportive. She listened carefully to our needs, proposed solutions and followed up closely. A great service - I’d recommend Harrogate Moneyman to anyone looking for mortgage options.
Shadi
Absolutely fantastic from the start of the process. Everything was explained really clearly and I feel that the advice given to me throughout was done so with my best interests at heart. Would recommend to anyone looking into getting a mortgage.
Johanan
I used UK moneyman after using many other brokers. Tom Dent and Meghan Robinson fought for my case and was able to land me the mortgage offer I needed. In such a sellers market, having a great team around you makes such a difference. I will...
Axel
Mizna has been amazing and helped us to get a better mortgage protection for a cheaper price than what we previously had. Would definitely recommend!
Nadia
excellent as always and very efficient. used them for my first-time mortgage and also my remortgage now
Christopher
Excellent service from Mizna. Went the extra mile to get me the best deal. Will definitely use again.
Carlos
Mizna Coates helped me reviewing a critical illness protection plan I have. Her advice helped me to take an informed decision. I feel her advice was honest and thorough, keeping my best interest as a priority and not just trying to sell me a...
Heza
For me, UK Moneyman is very experienced, very professional, Great advisor, very friendly and respectful. They always get you prompt response. I was so comfortable with them during the whole process. I strongly recommend them. Special thanks to all...
William
MoneyMan have been nothing but helpful with my mortgage enquiries. Quick to respond and found me an excellent rate I wouldn't have found without them. Highly reccomend.
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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
