Want to invest Buy to Let in Britain, What if you can’t get a loan?


Invest in real estate in the UK, if you can borrow money to borrow from the bank, you can maximize the high rate of return. It’s not a very difficult thing to get a Buy to Let in the UK, as long as you meet the following conditions at the same time, most of the banks are open to you.
The conditions include: Employed and the pre-tax income is not less than £ 25,000, British / EU citizen or green card holder (Living in the UK for 2 years or more when applying), No bad records of credit reports, etc.
Which groups are more difficult to apply for loans
1.Self Employed
For the self-employed, the vast majority of Banks require borrowers to provide at least two years Self – Assessment to prove his income (usually is also need to prove at least pre-tax income is not lower than £25000), some Banks even require borrowers to provide the financial statements of his company as a reference, so usually self-employed than applicants are hired in the face of more stringent audit.
2.Low Income Applicant
Most Banks have been told that applicants have at least an income of at least $25,000 before tax, but some Banks or credit institutions have no minimum wage.Here are a few examples: TMW, BM Solutions, Kent Reliance and Precise Mortgage.
3. Foreign National
In addition to British citizens, eu citizens and citizens with green CARDS, other applicants are “foreigners” in the UK’s lending standards.Basically, more than 95% of Banks and credit organizations require BTL loan applicants to be the above categories.In other words, as a holding visa BTL loan applicants living in Britain, only 5% of the banking institutions to accept, but it is also the opportunity to 5%, including Natwest/Halifax HSBC/BMSolutions/Bank of China and small lenders, suggest it is best to have valid visa for at least two years and have lived in England for 2-3 years.
4.Full Time Landlord
A full-time landlord is a group of people who do not have a fixed income, except for rental income. Most Banks do not accept such people.But these Banks will accept such cases: TMW, BM Solutions, Kent Reliance and Precise Mortgage.
In addition, regardless of fixed income, if investors own property number more than a certain value, the bank’s risk assessment will still see such people as a Experienced Landlord, and may not accept their loan application.
Every bank or credit institution has a very detailed lending guidelines, the above example is only a few parts, except for individual requirements, Banks would have asked to the conditions of the housing itself, every link needs careful consideration.Therefore, it is recommended that you choose a professional and reliable Mortgage Broker, who will help select the appropriate loan bank and product according to the different circumstances of each person.
Mentioned above, there are still a small number of banks can borrow money, that in case there is really no bank can borrow or borrow but the interest is too high, there are other ways?
Here are two ways:
1.Leverage other’s Mortgageability
It is recommended that your spouse, relative or familiar friend apply for a loan together as the other half.When they apply together, many Banks are mainly looking at whether the loan is good enough for applicants to decide whether to lend. Here need to pay attention to the issue of Financial Link, two people apply for a loan credit value will be closely related to each other, any one of the financial problems, the other party will be adversely affected in the credit report.
2.Mortgage Host
If you are not a loan applicant because of financial considerations or your own reasons, it is another novel practice to have someone with a high loan capacity as your Mortgage Host.


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