Never say never

It’s no secret that during the depths of the credit crunch the buy-to-let market was badly starved of funds.

Rob Barnard
14th June 2012
Rob Barnard - Aldermore
There were just a handful of active lenders and not an awful lot more products on offer. If a deal was in any way out of the ordinary, the answer was ‘forget it’. Brokers are, by and large, a pretty tenacious bunch but even the most hardened broker knew when they were simply banging their head against a brick wall and it was time to give-up and move on.

But the market has changed considerably over the past 18 months and buy-to-let products are now in more bountiful supply. And the really good news is that it isn’t simply a matter of having more lenders and more products to choose from, but also more accommodating criteria and a wider range of properties that can be financed.

At Aldermore, for example, not only will we consider straightforward buy-to-let mortgages applications from individuals buying a single property, but we’ll also consider houses in multiple occupation, multi-flats on one freehold, limited company buy-to-lets and applications from professional investors and landlords with large portfolios.

In fact, Aldermore has two businesses active in the buy-to-let sector: Aldermore Residential Mortgages and Aldermore Commercial Mortgages and we’re one of the few lenders that can cover the full spectrum of borrower needs in the private rental sector. If you’re unsure which business to contact, speak to either; we’ll happily assess your needs and pass your application across to colleagues, if needs be.

It’s understandable, given the very restrictive nature of market over the past few years, for brokers to stick to uncomplicated, standard buy-to-let deals and say no to anything that may look a bit out of the ordinary.

But there’s no longer any need to do so. A quick phone call is all it takes to establish if you can help your client.
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