Buy-To-Rent Mortgage Advice Please

Disduprop

I'm looking for a bit of help/advice. Basically I split with girlfriend four years ago and although we have joint mortgage she did not contribute to this and does not wish a claim on property as I gave her a payout at the time. She does however want her details taken off mortgage in order that she can move on with her life.
Property is valued at approximately £185,000 with outstanding mortgage of £134,000. I have savings of £20,000. Presently house is rented out with a rental value of £700 which covers the mortgage of £650.
The problem is I live in UAE and am deemed by all building societies/banks that I've approached for mortgage to have poor credit and can't get a mortgage.
Any help/advice would be appreciated. Thanks in advance.

ACG

You need to speak to a lender who will not credit score and will look at all of the info available rather than using a computer.

Most require the rental to be 125% of the mortgage repayments. Yours isnt and so that will be a problem. It could be possible to extend the term or use your saving to get the balance down to get to that figure.

It will be difficult with you living in the UAE but you could do with speaking to a mortgage advisor as the types of lender you need in the main only deal through brokers.

Disduprop

Thanks ACG. Are you in a position to recommend an advisor who would be sympathetic to my predicatament?

GMS

An ex-pat with poor credit wanting a Buy to Let is a bad combination. Add to this the rent does not cover 125% of the current mortgage let alone a new Buy to Let one and I think you are going to struggle.