Talk to bad credit buy to let mortgage experts.
- Poor or bad credit scores considered
- Defaults and CCJs considered
- Up to three missed credit or loan payments allowed
- Part missed mortgage payments considered
- No minimum income requirements
- Borrow from £10,000 to £500,000
- Repay over terms of 3 to 25 years
Buy to let mortgages for poor or bad credit.
If you’ve had financial problems which meant you’ve missed payments on mortgages, credit cards, loans or utilities, you might find it difficult to get a buy to let mortgage from a high street lender.
Whether you’re self-employed, in an employment probation period, or you have a bad credit score, we’ll always look for a way to say ‘yes’ where others may say ‘no’.
Even if you’re a first-time landlord and/or a first-time buyer, so long as you can provide at least a 25% deposit and meet our initial criteria - we could help!
If you’re an experienced landlord with one or more existing properties, our bad credit buy to let mortgages could help you expand your portfolio to increase your income.
To speak to an advisor and find out how we can help, call us on 0800 032 3737 or enquire online.
You could get a lending decision in just one call.
Enquiring is easy.
It takes 30 seconds.
Simply fill out the form above, or call us to discuss your needs now.
Our team of experts are there for you.
You'll deal with the same experienced advisor throughout your enquiry.
We can get you the funds you need, fast.
You could get a lending decision in just one call.
Why choose Mercantile Trust for a bad credit buy to let mortgage?
Mercantile Trust are buy to let mortgage experts. We have been lending to those with poor or bad credit history since 2015. We are part of a group who have been lending to clients since 1988. So, you can be confident that you are working with an established industry name.
As an experienced lender, we understand that your customer journey should be easy. That’s why we push to get you the funds you need within a matter of days.
We specialise in helping clients invest in buy to let properties, either as a first-time or experienced landlord.
As a direct lender, there are no broker fees to pay on top of the mortgage costs and you’ll benefit from our high-quality customer service, from the point of application, right through to completion and beyond.
Call the team on 0800 032 3737 or enquire online today, to discuss your borrowing needs.
Bad credit buy to let mortgage criteria
- Up to 75% loan to value
- Rates from 11.08%
- 1st and 2nd charge
- Tenants must not be related to applicant
- Applicants must be at least 18 years old
- Mortgage term must end by applicant’s 85th birthday
- Rent must cover monthly payment at 125%
- 1% stress rate
- 12 months mortgage or rental history required
- Top slicing available
- No personal income requirements
- Mortgage term can be between 3 and 25 years
- Most property constructions accepted
- Individuals and limited companies accepted
- First time landlord, first time buyers accepted
- HMO's (Houses in Multiple Occupation) accepted
- No maximum number of rooms in HMO’s
- DSS tenants accepted
Ready to enquire?
Talk to our mortgage experts now
We are here to help
- Friendly UK based advisors
- Enquiring won't affect your credit rating
- Fast turnaround times 7-10 days is possible
- No phone menus - immediate contact from our advisors
- We are a direct lender, so we'll work with you from start to finish
Tara Evans
Head Of Direct Sales
14 years at Mercantile Trust
01923 892199
Frequently asked questions
A 'bad credit' buy to let mortgage is used to invest in rental property, where the applicant has missed payments on debts they have now, or have had in the past.
It simply describes a buy to let mortgage where the lender may accommodate these circumstances, as not all lenders do.
This is because, if someone has struggled to make payments in the past, they could be more likely to in the future, compared to someone who has never had this experience.
Some lenders accept that risk, and design mortgage products suited to that need.
Mercantile Trust are a lender who want to help applicants looking for a bad credit buy to let mortgage.
It may be possible to get a buy to let mortgage with a CCJ. Criteria varies from lender to lender. If the CCJ is not related to borrowing money for property, for example a parking fine, it may be disregarded completely.
Some lenders actively seek to help buy to let applicants with credit problems and offer a range of flexible options.
The recency of the CCJ can influence some lenders decision, as can the amount of the debt.
Mercantile Trust will consider applications from borrowers with two CCJs, regardless of the amount of the debt.