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would I be able to obtain btl mortgage?

(10 Posts)
any11 Mon 12-Mar-12 21:08:13

Could anyone suggest any companies that will offer me a buy to let mortgage? I dont or never have had a mortgage in the past and my dh owns our house outright. We are looking for some extra income. I have excellent credit rating and a deposit

CogitoErgoSometimes Tue 13-Mar-12 14:34:17

I'm sure you could. Independent Mortgage Brokers and Independent Financial Advisers aren't a bad place to start when working out which companies are offering the best products. If it's your first business venture, would also recommend researching the subject carefully. A lot of pitfalls to being a landlord.

any11 Tue 13-Mar-12 15:52:41

Thanks for the reply Cogito,

My next question is can anyone suggest a mortgage adviser? I have tried london and country but they just take all the information on the phone and then never call you back.

I would appreciate any recommendations.

LemonEmmaP Tue 13-Mar-12 15:56:26

We have used Mortgages for Business to help us find good rates in the market.

any11 Tue 13-Mar-12 16:25:16

just tried mortgages for business and they said I would not be able to obtain the mortgage. As I dont have any of my own income.

wearenotinkansas Tue 13-Mar-12 17:23:30

not all lenders require you to have a mortgage. Try brokers Pink Home Loans.

CogitoErgoSometimes Tue 13-Mar-12 18:14:07

There is an alternative. You could mortgage your current property and use the cash to buy the property that you let outright. Then you wouldn't need a special BTL mortgage. Doesn't exactly get around you not earning any money but presumably DH would be OK doing this on your behalf as a family business venture?

any11 Tue 13-Mar-12 18:45:38

The only option seems to be buying the property cash unfortunately, but as I would like to start to invest in property as a career that might be the way to get on the ladder and begin this dream.

PotteringAlong Tue 13-Mar-12 18:47:30

I have a residential mortgage with consent to let which is an option and you needed less capital for that.

VanessaWarwick Sat 15-Jun-13 10:04:29

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