Helping a First-Time Landlord Enter the Buy-to-Let Market

At Dudley, we specialise in provided tailored solutions to all types of borrowers, helping them find a solution to their case, whether simple or complex. With our human approach to underwriting, we assess every case thoroughly and consider each borrower's unique circumstances.

In this case, we applied that same approach and helped a first time landlord enter the buy-to-let market.

 

Our client's case

We recently received a case from a first-time buyer and aspiring landlord looking to purchase a new-build flat in their hometown of Sheffield.

The property they were looking to rent was valued at £140,000, and the client were after a mortgage of £112,000. For their deposit, they were intending to use their personal savings.

Currently renting in London, the client faced the challenge of high property prices, which made buying in the capital unaffordable. This prompted them to seek a mortgage in Sheffield, where the opportunity to become a landlord and join the property ladder was more probable.

 

What we did

As the client was a first-time buyer and landlord, the case required a detailed manual affordability review by one of our underwriters. 

After assessing the client’s salary, potential rental shortfall, and expenses, we were pleased to approve their mortgage application.

By applying our flexible underwriting approach, we were pleased to offer a mortgage at 80% LTV, helping the client achieve their goal of homeownership and landlordship.

 Sarah Rose, Key Account Manager at Dudley Building Society added: “With our flexible approach and manual underwriting, we were able to help a FTB FTL onto the property ladder. Although the case was worked out on a full affordability basis, the client had enough income to support the application. 

Here at Dudley BS we have helped someone obtain an investment property which will generate investment income to the borrower”

 

Place your buy-to-let case with us 

Whether your client is a first-time landlord or an experienced investor, our personalised solutions, including regulated and expat buy-to-let, are designed with unique circumstances in mind, whether simple or complex. 

Contact our Intermediary Team on 01384 489195 or email at [email protected] to discuss your clients case with us.