Can I Get a Mortgage With One Years Accounts?
Most mortgage lenders look for prospective borrowers to have between two to three years of accounts when self-employed.
However, there are some lenders that will look to offer mortgages to those with only one year behind them.
It can be difficult to find a lender that accepts only one year of accounts, with over 90 UK lenders in the market, and only a small handful of them accepting one years of accounts.
Buy to Let
If you are thinking about your first Buy to Let property, or already have an existing Portfolio, we'd love to Help
How we can help you
Guide you on all the costs involved with Buy to Let Property
Show you how much you can borrow and guide you on rental income requirements
Search ALL UK lenders to find you the BEST rate
Get you a Mortgage Agreed in Principle
Take care of all the paperwork
Liaise with solicitors and estate agents
Deal with the whole process from start to finish
We have access to ALL UK lenders so will find the BEST mortgage for your circumstances
How It Works
Why would you need a buy to let mortgage?
As the name suggests, a buy to let mortgage is a mortgage that you choose when you specifically want to rent out the property you’re purchasing. This means you’re buying a new property that you’d like to rent out to tenants, rather than letting out a house that you already own where a new mortgage is not required. If you’ve spotted a property – a house, flats, bungalow or anything else – that might be an excellent option for your future career as a landlord, then the first step is to get yourself the best buy to let mortgage possible.
While these kinds of mortgages are very similar to a standard mortgage in many ways, there are a few differences worth noting. Firstly, the rates involved in a buy to let mortgage may be higher than you’d pay on a standard mortgage. The deposit you need to put down may be larger as well. This is all because having an additional property that you don’t occupy is considered a slightly higher risk – so more must be done to reassure your lender that everything is covered. Regardless of what kind of property you’d like to purchase if you’d like to rent it out then a buy to let mortgage is what you need.
What do I need to do to get a buy to let mortgage?
As with any mortgage, your first step to purchasing that buy to let property is knowing what you can afford. Passing those affordability checks and credit references are a must – but with the support of a buy to let broker like dsMortgages, getting through the process smoothly is easy. With expert, professional mortgage advice, getting where you need to be is easier than you think. Whether you’re brand new to renting, or you’re an old hand with an existing portfolio, professional help for buy to let can ensure there are no hitches along the way – and your new property is ready to rent out even sooner.
There are plenty of additional considerations before you purchase a buy to let property that a lender will want to know all about. From what you’ll do if you’re unable to rent to how much rent you’ll be charging. These factors all play an essential part in the decision-making process for a buy to let mortgage. Being prepared, and knowing all you need to know is the best place to start – something that working with a professional mortgage broker for buy to let could provide.
While a residential mortgage is based around your household income alone, buy to let mortgages are also based on the rental income you’re likely to make for the property. Also, what happens during periods where the property isn’t let out is a consideration. These additional complications make using professional help for buy to let even more critical. With an expert, experienced team like dsMortgages on your side, completing all those extra steps and requirements is effortless.
Should I use a mortgage broker for buy to let?
If you’d like to go into buy to let, or you’re simply looking to expand an existing portfolio, going with the professionals is your ideal choice. An expert buy to let broker can provide the insight, expertise and knowledge needed to ensure your landlord plans become a reality. At dsMortgages, we have experience supporting plenty of customers through the buy to let process over the last 14 years. Thanks to this long-lasting expertise, we’re well-placed to help you through the process of buying a house or flat to rent out.
Working with an expert buy to let mortgage broker can ensure you’re getting the best deal for your money. While it may be tempting to go for the first deal you find, putting your mortgage in the hands of a specialist can result in far better deals. As a part of the Stonebridge Mortgage Group, dsMortgages has access to options from over 90 different UK lenders, which means we’re able to find a buy to let mortgage that’s perfectly tailored to you.
Why dsMortgages is the team for you
A professional, friendly and expert team is the ideal option for anyone planning on a buy to let mortgage. As dsMortgages, we aim always to put our customers first. That means providing an exceptional service every step of the way, from first discussing your help to buy mortgage with us through to getting the keys to your property. Our expertise and network of professional lenders make us the ideal option if you want to get the best rates, most significant benefits, and the most effortless outcome for your buy to let mortgage process.
If we sound like the ideal buy to let broker, get in touch with our friendly team today. You can call us on 0330 22 333 10, or use the contact form and we’ll get in touch with you shortly. Even if you’ve gone through the mortgage process before, a little extra insight and understanding is a must to find the ideal option for your mortgage for renting. Our expertise as dsMortgages allows us to take you through every step of the process from start to end – and do all the hard work for you.
We are a Whole of Market Broker with access to over 90 lenders and literally thousands of mortgage schemes.
Unlike some other brokers, who may be tied to a small panel of lenders, we are able to search the whole mortgage market to find you the best deal. We are a member of the Stonebridge Mortgage Group which is one of the fastest growing mortgage networks in the UK, giving us access to 100’s of exclusive deals from top lenders that you won’t find direct or in branch.
We do all the work over the telephone and via email so are able to offer our clients an efficient and convenient service.
We always aim to put you first. We will listen to your needs and objectives then advise you on the most suitable mortgage products. As part of our service and commitment to our clients, we can also give fee free advice on mortgage protection products such as life insurance, critical illness cover, income protection and home insurance.
Want Further Buy to Let help? Get in touch today!
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