Landlords only - question please

(6 Posts)
Sunnyshores Wed 06-Jan-16 16:46:35

We are about to move home and Santander wont renew our mortgage as we have a few BTLs (unfortunately theyve taken ages to tell me this and we move in 4 weeks [Angry]

I've called HSBS, First Direct, Co-Op and although they first deny it, eventually they admit they all have some sort of criteria which I am failing (too many in number, too much % of my income from them, considered a professional landlord etc etc).

So I wondered if anyone had any recommendations for a mortgage company? I dont need the BTL income considered as I have a job.

Help appreciated!

Bearbehind Wed 06-Jan-16 16:52:42

Your best bet would be a whole of market broker.

Time really isn't on your side here, 4 weeks isn't long to process a mortgage, so you can't afford to get it wrong.

People on here can only comment on their experience but each application is based solely on the specifics of that case so can't be compared directly with your case.

Anyone who has the actual knowledge to advise which lender to use isn't allowed to post on a forum as it is a regulated industry.

Sunnyshores Wed 06-Jan-16 17:24:32

I know personal circumstances affect an application, but many lenders wont consider BTLs so, if another landlord had recently got a residential mortgage from x it would narrow the field for me.

I didnt want to use a broker as IME they dont necesarily explain the whole situation leading to a refusal later down the line (which I cant have). Also they potentially go on leave, dont return calls, go sick, dont work past 5pm - whereas I am dedicating 100% of my time to this for the next few days.

But if anyone has a favourite broker I'll listen.

Bearbehind Wed 06-Jan-16 17:32:16

Honestly OP, a good broker will give better advice than you will find on here.

You need to disclose all your details in order to get advice on where to apply which you're obviously not going to do on here and even if you did, no one regulated by the industry could comment anyway.

Brokers are far more likely to avoid a decline by reviewing the whole situation than whatever person you happen to speak to at a particular bank as the front line bank staff often don't know all the details of the criteria whereas brokers with lots of experience will have seen lots of different permutations.

Ironically the broker I used used on holiday but he processed my application in 1 day and updated me continually.

Spickle Wed 06-Jan-16 18:02:28

I used The Mortgage Works for my BTL, but couldn't possibly say whether or not it would work for you, but might be a good idea to enquire.

Sunnyshores Wed 06-Jan-16 18:23:28

Its a residential mortgage Im after (with a lender that doesnt mind me having BTLs).

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