Unusual Mortgages are specialist mortgage advisers that help people in Unusual circumstances, such as people looking for Mortgages without any proof of income or those looking for mortgage lending into retirement. Although there are no longer any “Self Certified” residential mortgages available, there are in fact still mortgages available to landlords that do not not require any confirmation of Income.
There are a number of Equity based lenders in the market, that will advance Buy To Let Mortgages to landlords after assessing the rental income of the property. As the mortgage lending is agreed against the rental income, there is no need for the lender to check an applicants personal income. Recently we have been approached by applicants approaching retirement age that are required to repay there existing Buy To Let Mortgages due to their age.
Here’s an example of a recent Buy To Let Mortgage that we arranged past retirement age and without any proof of income.
Kevin (Aged 69) is a Solicitor based in London who has a rental property worth £1.150,000, with an outstanding mortgage of £500,000. He contacted us because his existing mortgage expires in less than 12 months and if he doesn’t find an alternative mortgage lender, he will be forced to sell the property.
He has asked his existing mortgage lender to extend the loan, but they are not accepting any new applications for mortgages and therefore are unable to help him. Kevin’s property has increased in value substantially over the last 5 years and he would like to keep the property to take advantage of any potential future growth in the London market.
We were able to find Keith a Buy To Let mortgage with a 35 year term, without any proof of income, allowing to keep his existing property as a long term investment and part of his future pension planning. If you are with any of the mortgage lenders listed below, they are unlikely to allow you to make any new mortgage applications and you should seek advice !
It’s true that lenders like Bradford & Bingley, GMAC Residential Funding, Northern Rock, NRAM, Oakwood Home Loans, Topaz Finance, UCB Home Loans, UKAR are either closed to new business, or are just servicing their clients existing mortgage debt. If you are customers of any of these former or existing mortgage lenders, then you are likely to need a new mortgage lender if your circumstances change.
Unusual Mortgages are specialist experts at finding mortgages for people in Unusual circumstances, such as inconsistent income, no minimum income, no proof of income, multiple mortgages, let to buy and buy to let mortgages. If you are looking for a Buy To Let Mortgage without any proof of income or lending into retirement then give us a call and see if we can help.
Visit www.unusualmortgages.co.uk for our free Large Mortgage Fact Sheet
If you require more information on Large Mortgages, Buy to let, Self Employed or Executive Mortgages you can contact Unusual Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk
Visit www.unusualmortgages.co.uk for our free Large Mortgage Fact Sheet
If you require more information on Large Mortgages, Buy to let, Self Employed or Executive Mortgages you can contact Unusual Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk