Buy To Let
Are you a landlord looking at mortgages for your portfolio?
So, you’ve big ideas on building your property empire. You know what you want to achieve, but now need to establish the best way to finance it. With many ratios and affordability criteria to consider, landlord mortgages can be complex, either way you will need to get a Buy to Let mortgage.
Buy to Lets can be minefield and with one foot wrong, it could explode your dreams of owning a rental property or growing your empire. All Buy to Lets are now assessed on the rental income the property can generate compared to the mortgage itself. Typically mortgage lenders will require you to have a minimum deposit; often 20%- 25%. You’ll need to consider the interest rates, conveyancing fees, arrangement fees, possible valuation fees and whether any other background properties will impact your mortgage.
Get in touch to ensure you receive professional guidance without stepping on a mine!
At Beneco Financial Services we can support you in obtaining an Islamic mortgage that is compliant with Sharia Law. These mortgages are not the same as traditional mortgages because they don’t involve paying interest. We’re one of a limited number of companies who has the permission from The Financial Conduct Authority to arrange Sharia Compliant Mortgages
For Customers with bad credit
It’s often possible to obtain a mortgage with a bad credit history, although the options available to you may be limited or not with the lender of your choosing. At Beneco Financial Services we have the experience of what lenders are looking for and what they will consider.
Self Employed & Sole Traders
Accounts for 2 years is preferred, but, If you have less than 2 years it could still be possible to obtain a mortgage. Most mortgage lenders will average your income but there are some lenders who consider your latest year figures. Also, there are lenders who could consider using your retained profit, salary and dividends, if you’re a Ltd company director and take a low salary and dividends but have a high retained profit.
At Beneco Financial Services, we can navigate the complexity that complex mortgages, self-employed/sole trader status and adverse credit history can bring to mortgage applications.