Aldermore offer Buy to Let for customers with light adverse creditMake Text Bigger
Since the credit crunch it has been extremely difficult for anyone without a perfect credit history to obtain a Buy to Let mortgage. Mainstream lenders have not been interested in entertaining any mortgage arrears, CCJs or defaults until now.
Aldermore have changed their Buy to Let criteria allowing a mortgage to be considered for customers who have had:
- 1 or 2 missed mortgage payments over 12 months
- CCJs and Defaults registered over 3 years ago
- Missed unsecured credit payments such as credit cards, mobile phone, loans etc
In recent years most options open to Buy to Let customers with any adverse credit would have cost 8-10% and even up to 15% for more serious cases.
This is obviously a very clever attempt to capture market share in a niche area, but really does help a lot of investors who have had a blip and are still a good risk
The Aldermore Product range starts from:
- 3.98% for a 2 year fixed fee 2.5% at max 75% LTV
- up to 4.98% with £1,999 fees for their 80% LTV products.
Aldermore Criteria includes:
- No minimum income for experienced Landlords or £25,000 min for First time Landlords
- Min Value of a property £75,000
- No DSS tenants
- Max 5 properties with Aldermore
You can get a full quote on our Buy to Let mortgage sourcing Calculator if you wish (CLICK HERE)
Or if you need any help with a Buy to Let application
Tel: 01603 489118
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