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
Email: info@property118.com
Tel: 01603 489118
I 
Rhett Costin of Shrewsbury
Currently there are over five million people claiming LHA and this is set to grow over the next 2-3 years as we face a tough economic period and continued austerity measures from the Government. According to Dssmove.co.uk, letting agents and landlords will miss out if they ignore LHA tenants. 
Linda has written in to share her problem letting agent story and to ask the Property118 community for their opinions, guidance and advice. The remaining content of this post is Linda’s:-
The good thing about being a landlord is that I not only generate a fantastic monthly income from my property investments but I also have the power to make a positive impact on the lives of some vulnerable people “DSS Tenants” living in my community by providing them with a home (when other landlords might not).