Thinking about investing in a rental property? A buy-to-let mortgage can help make your plans a reality. Whether you’re just starting out as a landlord or adding to your portfolio, we’re here to help you find the perfect mortgage to suit your needs.
Buy-to-let mortgages are designed for properties you plan to rent out. They’re a little different from regular residential mortgages. For example:
You could be eligible for a buy-to-let mortgage if you:
When choosing a buy-to-let mortgage, here are some key things to consider:
If you’re unsure about the property’s condition, consider a more detailed homebuyer or RICS survey to check for structural or maintenance issues. These surveys cost more but provide valuable insights into the property’s long-term value.
If the property is valued below your expected purchase price, you can:
Every investment comes with risks, and buy-to-let is no exception. Here are a few to be aware of:
Yes, getting a buy-to-let mortgage is possible, even if you have a less-than-perfect credit history. While it can be more challenging, there are lenders who specialise in helping people with adverse credit secure a mortgage.
Showing Strong Rental Income Potential: Lenders want to see that the expected rental income comfortably covers the mortgage repayments (typically 125–145%).
Provide Proof of Financial Stability: Demonstrating a steady income and good financial habits since your credit issues can help your case.
Finding the right mortgage can feel overwhelming, but we’re here to make it simple. Here’s how we can help:
We’re with you every step of the way to make the process easy and stress-free:
Let’s find the right buy-to-let mortgage for you. Get in touch today and take the first step toward achieving your property investment goals.
Remember, property investments involve risks, so it’s always a good idea to seek professional advice.
If you have questions about getting a mortgage with an adverse credit score, read our FAQs. Our wealth of knowledge within this market means that we’re confident in our ability to offer specialist mortgage advice and secure the mortgage you want regardless of your credit history.
An IVA, or Individual Voluntary Arrangement, is a formal deal between you and your creditors to pay off your debts over time.
You work with a specialist who figures out how much you can afford to pay each month. If creditors holding at least 75% of your debts agree to the plan, it becomes legally binding.
You make regular payments, usually over five to six years, and any remaining debt at the end is typically written off.
It's a way to avoid bankruptcy while still managing your debts, but it's important to get advice before committing to one as the effects this will have on your credit file is severe and it can impact your credit file for much longer than a Bankruptcy.
Getting a mortgage with an IVA (Individual Voluntary Arrangement) can be extremely challenging, but it's not impossible. Here are some steps you can take:
By following these steps and seeking professional advice, you can improve your chances of successfully obtaining a mortgage with an IVA on your credit record.
It is possible to apply for a mortgage whilst you are currently in an Individual Voluntary Arrangement (IVA). Some lenders will even allow them to continue to run alongside the mortgage under certain circumstances, as long as the conditions of the IVA continue to be met.
However, generally lenders will want the IVA to be settled prior to your new mortgage beginning, this can be for a few reasons.
Once you have been discharged from your IVA (it’s been repaid), you will find yourself in a better position with the number of lenders that will now consider your application.
However, you can still expect to pay higher interest rates whilst the IVA is still showing on your credit file & insolvency register.
The deposit you are likely to need with an IVA on your credit file is as follows:
An Individual Voluntary Arrangement (IVA) will impact on your ability to obtain a mortgage. An IVA is a formal agreement between an individual and their creditors and are arranged by IVA practitioners.
Having an IVA on your credit file will make it more difficult to be approved for a mortgage and will also result in higher interest rates and your application be underwritten with more stringent lending criteria. Lenders will assess your current financial situation to determine if you should be approved for a mortgage.
However, there is potential to get a mortgage with an IVA. Our team at Adverse Mortgage Advisors work closely with their clients and the lender to ensure the best possible application is submitted to the lender. It is this attention to detail that has enabled us to deliver many successful applications for our clients where they never believed it would be possible.