Society has become more adept at recognising “vulnerable” persons and thankfully this is now bleeding into the buy to let mortgage market.
Historically there was only a clutch of buy to let lenders who supported the use of let properties for social housing but this changed following a concerted march on a leading UK bank a few years ago by aggrieved tenants who were struggling to be housed, not because potential landlords would not granted permission by their respective mortgage lenders.
The bank reneged and it turned to be a watershed moment as many other mortgage lenders adapted their lending policy to allow certain DSS tenants. However, in some peoples eyes, this is just the first step in the battlefield to provide a private sector solution for vulnerable tenants.
I’m a professional Mortgage Broker with access beyond the high street lenders to more complete approach. Here are some of the things I can facilitate:
• Tenancy agreements directly with the Council, Agencies and Charities.
• Finance to alter properties to accommodate special needs or comply with HMO licensing.
• Short term stay for tenants such as those in rehabilitation.
• Solutions for vulnerable children by exception.
• Mortgages in personal or company structures.
I have seen landlords grow and prosper in this more complex buy to let market which is less congested and can attract a higher rental yield.
