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Buy To Let with no income
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LeroyBoyce
Posts: 122 Forumite
Hello,
My friend has a second house, with no mortgage. They rent it out. They have no job, accept as a land lord for this place.
They wish to remortgage but most mortgage providers need you to have an income of at least £25000, NOT including the income from the house, which my friend obviously doesn't have.
Does anyone know of a provider that will offer BTL with no income except for the rental income? Apparently they do exist...
Many thanks,
Lee
My friend has a second house, with no mortgage. They rent it out. They have no job, accept as a land lord for this place.
They wish to remortgage but most mortgage providers need you to have an income of at least £25000, NOT including the income from the house, which my friend obviously doesn't have.
Does anyone know of a provider that will offer BTL with no income except for the rental income? Apparently they do exist...
Many thanks,
Lee
0
Comments
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Yes. But we are not allowed to recommend lenders on the forum. Also the majority of BTL deals are only available via brokers anyway so you may as well just save time doing the research and find a broker to deal with this for you/your friend - but i imagine this will be possible.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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As ACG says, your friend needs to use a broker.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
As I thought, thanks.
I didn't need any recommendations, just to know that they exist!0
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