BM Solutions the buy to let lending arm of the Halifax have now improved their lending criteria. Previously you had to evidence a minimum income of £25,000. This condition has now been removed and no minimum income is required. Your income will still need to be declared on the application.
The benefits of BM as a buy to let lender are:
Very quick to offer
Up to 5 tenants on one AST
Rental calculation is 125% at a notional rate of 5%
Other lenders have different lending criteria.
The Mortgage Works do not have a minimum income requirement and no income is stated on the application.
Contact us today for a free no obligation initial discussion or meeting
Why use Neil Soundy Financial Services for your mortgage advice in Cardiff.
We offer at least twice the choice of mortgages compared to a standard mortgage broker. View the video on our homepage that explains how we are different.
We will give you expert impartial advice on the mortgage market.
Neil Soundy Financial Services Ltd is an appointed representative of HL Partnership Ltd which is authorised and regulated by the Financial Services Authority.
The Financial Conduct Authority does not regulate some forms of buy-to-lets.
We do not give or imply legal or taxation advice. We recommend you contact a solicitor or accountant for advice in these areas.
Think carefully before securing other debts against your home/property. Your home/property may be repossessed if you do not keep up repayments on your mortgage.
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We can discuss your current situation and the options available to you before arranging a free no-obligation meeting.