Joint Mortgage Sole Proprietor

Did you know Newbury Building Society accepts applications on a joint mortgage sole proprietor basis?

Here is an example of a case we recently agreed:

Son is looking to get onto the property ladder to purchase his first BTL.  He was struggling to get a mortgage for two reasons:

1. He is a FTB and not many lenders do FTB BTLs
2. His income is under that of our minimum income requirement of £30,000

He lives in and will continue to live in an annexe at his father’s property.

We were able to lend on the basis that his father would go on the mortgage to meet the minimum income requirement but not on the deeds of the property, as the deposit is the sons.  Whilst it is not in policy to lend to FTB on a BTL basis, as he is in an annexe we understood that the son is going to remain in this property, therefore not requiring to reside in the BTL property.

Why use Newbury Building Society?

Newbury Building Society underwrites all cases on an individual basis and does not credit score, it credit searches and looks at this individually for every applicant.

Newbury Building Society is known for providing a tailored and individual service to Intermediaries and is pleased to have launched our helpdesk service (01635 918000 or brokerenquiries@newbury.co.uk) to build on our existing relationships.

We look forward to helping you soon.

*all figures and data correct as of September 2016