Non-standard and complex buy to let cases

It is surprising what is considered by many buy to let lenders as a “non-standard” case. Issues that we see include:-

  • First time buyers;
  • Portfolio landlords (excluded by many lenders)
  • Properties to be refurbished;
  • Adverse credit issues;
  • Multi-unit blocks (apartments and HMOs)
  • Remote locations away from main population centres;
  • Scottish property;
  • Low personal income on tax returns.
  • Lenders affordability criteria from rents;

To back this view up, a  recent survey conducted by Mercantile Trust, (a specialist buy-to-let and bridging lender) indicates that brokers face challenges on a regular basis when placing buy-to-let cases. “Many said they regularly come across difficulties when trying to find a solution for first-time landlords.  50% stated that adverse credit posed problems.  30% of respondents said they often found it difficult to get cases approved because of affordability issues and/or rental calculations”.

Whilst this survey was done to highlight the flexibility of this particular lender, we should add that at Key Commercial Finance we have a wide knowledge and experience of many specialist buy to let lenders to help fund “non standard” buy to let cases. We will always seek the best outcome for our clients from a wide spectrum of lenders.