How do I get a mortgage on a buy to let property?
The amount you can borrow on a buy to let mortgage is mainly based on the rental figure you can get for the property. It is less to do with your personal income and more to do with rental potential. The first step to getting a mortgage and the simpler route is to go to a mortgage broker, as they will do this for you on your behalf taking away any pressure.
I was recommended by a friend to use ‘The Right Advice’ and they delivered in every aspect.
We have not had the easiest 2 months getting a mortgage offer, due to finances and a mortgage companys deeming our property not suitable for lending. Natalie Jones has been on the front line, battling incredible hard to secure a mortgage for us. I’m confident 99.9% of other mortgage brokers would have hung up the towel after the countless set backs, however, Natalie persevered, battled mortgage companies, challenged decisions and got us an offer!!! This was at no extra cost to the original fee quoted. The service and dedication provided by Natalie and ‘The Right Advice’ was simply un-matched. I can’t thank you enough. We will be referring to everyone in need. Thank you again.
Can I use my second job for my affordability?
Yes you can! Lenders usually want to see you have been able to maintain a second job for at least 12 months. Some lenders will use part of your second job income and some will use all of it. The important thing is that you can show you have been able to maintain 2 jobs for a period of time.
Robyn was excellent throughout our process of buying our new home! She was quick and responsive every time we needed her and felt in safe hands with her dealing with our case. Would highly recommend the right advice, this was the second time I have used them and they have been spot on each time!
I have a new job, but haven’t started yet. Can I still get a mortgage?
Yes you can! As long as you have a signed job contract. There are lenders who will accept this and work off the contract for your affordability.
Myself and my partner are first time buyers so everything was new and overwhelming. Alex, our mortgage advisor has done a great job explaining everything and helping us understand the process. Alex is very professional, kept us up to date and always got back to us quickly. I would definitely recommend!
Can I use a loan as a deposit for my property?
Yes, there are lenders who will allow you to take out a loan and use that as your deposit. This is useful for clients who are high earners, but do not have a deposit saved. The lender will take the loan payments into account for you affordability.
Esther has been brilliant. Very patient and easily explained everything I was unsure about. She made the whole process very smooth and easy and I will absolutely be contacting her at the next remortgage time. Thanks Esther!
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My mortgage rate doesn’t expire for another few years, but i want to move house. What can i do?
Most mainstream lenders have a portability feature for mortgages. This means that you can essentially move your current mortgage to a new property without encountering any penalties or losing your current rate. This is subject to you and the property still meeting the lenders criteria.
Alex has gone above and beyond to ensure all my questions are answered throughout the process. As this was my first time buying and I was doing the process alone, it was such a reassurance to have a wealth of expertise and knowledge on side throughout to answer any of my questions. Super responsive and couldn’t have asked for a smoother process. Thank you Alex!
How can I get a mortgage if I haven’t got 3 month bank statements at my new job yet?
If you are someone who is looking at securing a mortgage but have recently changed job or started a new job then not to worry, as there are many lenders who can look into this. As we are whole of market brokers, we deal with over 88 different lenders allowing us to find a lender who meets your current circumstances. A lot of mortgage providers will need to see a minimum of one month’s pay slips & bank statements from the new employment and possibly proof of contract. This provides them with peace of mind that they can see the employed income entering the account. There are also lenders who can potentially accept an application with no pay slips or bank statements and just a contact.
As a first time buyer, the whole process of buying a house was a little daunting. However Beth has made the process of securing a mortgage quick and simple. In addition to this, Beth also put me in contact with a solicitor and sorted my insurance. As someone who’s work schedule doesn’t always allow me to contact companies within working hours, this has lifted a massive weight from my shoulders.
From the very start, I felt that Beth built a strong rapport which meant that I felt comfortable to communicate with her openly. Beth made me feel at ease straight away and it made the whole process so easy.
Beth has been incredibly patient with me and my many questions throughout the process! Beth always takes the time to thoroughly explain the steps that are included within the process and always ensures that I am kept in the loop about any updates. Beth always responds to any queries quickly and nothing is ever too much trouble.
I will be recommending Beth to anyone and everyone who is looking to secure a mortgage. And I myself will be using Beth when it comes to remortgaging! Thank you again for everything Beth, I don’t think I can thank you enough!
How can I get a mortgage being on a zero hour contract as a waitress?
When looking at zero hour contracts the majority of lenders will need to see continuous employment for a minimum of 12-months. Once, the 12-monhts has passed they can start to take your income into account. However, if you are someone looking to proceed with things a little quicker here at The Right Advice, we have access to a wide range of specialist lenders who can consider zero hour contacts with continuous employment for 6-months. The type of rates they offer can be slightly higher than your average high-street lender, but this does provide you with options when securing a mortgage.
We couldn’t have wished for a better or smoother experience! Ben has been so helpful from start to finish and was always quick and happy to answer any burning questions. As we are first time buyers, Ben explained the process to us from start to finish and always reassured us when we had any concerns. Our experience honestly couldn’t have been any easier; Ben also arranged our solicitors and insurances out for us, so it really was just so simple for us! The WhatsApp group chat meant we were kept up to date with every part of the process and could conveniently explore different deals and options as a group. We couldn’t recommend enough. Thank you so much for everything!!!