Buy to let mortgage 20k income

ACG · 4 December 2016 at 11:55AM

amnblog wrote: »

If this is your friend's solution to funding his buy to let he sounds like a bit of a worry.

Tell him to hurry up and get you googling as it will be a whole lot more difficult next month.

Those changes are already coming in to play. I had an application going through with a lender who changed their process mid application - even after complaining they have not backed down - disgusting! Very little the client can do short of going to court as they do not have the ombudsman to fall back on.

amnblog · 4 December 2016 at 12:11PM

Pensions killed, private sector workers turn to buy to let. Buy to let killed, what's next?

stebiz · 5 December 2016 at 1:31AM

I have quite a number of rented properties and can show him the ropes although I haven't added to them in recent years. I'm sure it can't be that difficult.

erin110 · 8 December 2016 at 4:23PM

It may be worth googling a broker rather than the lenders as although you may be able to find a lender that fits the £20k income and £60 property purchase price, there may be other things to consider such as the status of their credit file, what type of property it is, where it is etc. Also you say your friends income is £20k, is that what they told you or do you know that for definite. From my experience most people are not to sure what they earn and the difference between a salary of £19800 and £20000 could make a huge difference in the lender.