8:29 AM, 1st May 2014, About 7 years ago 2
I am looking for mortgage broker recommendations for BTL (1st time buyer, low credit score due to little credit card use, £70k deposit)
I’m a first-time buyer, no previous mortgages at all, looking to buy to let because my future work means I’m not ready to settle down in one area at the moment yet and buy a residential property.
I have a deposit of £70k and I’m looking to get a buy to let mortgage of 75% LTV. The property price is £275k, it’s a 3 bed house in outer outer London.
My income is £35k, going up to £42k with bonuses. My problem is that until this year I haven’t used a credit card – so my credit rating is poor simply due to lack of use due to what I thought was prudent financial planning…silly me!
I’ve never had problems with debt at all – just never really used credit. Virgin were going to give me a mortgage in principle – except my credit rating was too low.
I’ve been on the electoral roll for over 20 years. I’ve had a look at my credit history and besides a poor score, there’s no errors or mishaps.
I can’t really wait endless months to boost up my credit rating by using a credit card – so I’m looking to hire a mortgage broker/advisor to negotiate with lenders that offer BTL to first-time buyers.
I would be very grateful for your help here.
Thank you very much.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|