The Intermediary – September 2025 - Flipbook - Page 84
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C AS E ON E
First-time landlord with
limited personal income
n applicant earning £27,000 annually is
purchasing a £220,000 flat as their first
buy-to-let (BTL), with a 25% deposit.
Expected rental income is £850 per month.
They currently rent their own home and have
no property ownership history. The applicant has
a clean credit record but no additional savings
beyond the deposit.
A
MOLO FINANCE
It is encouraging to see an applicant looking to
start their investment journey. At Molo, we don’t
set a minimum income requirement, so their
£27,000 salary would not be an obstacle. On the
face of it, this case could fit comfortably at 75%
loan-to-value (LTV), subject to our usual checks
around the deposit and broader affordability.
While they are a first-time buyer as well as
a first-time landlord, we are happy to support
applicants in this position, and we wouldn’t apply
any additional rate loading. Provided all other
criteria is met, this applicant would have a clear
path to purchase.
FLEET MORTGAGES
As the applicant is a first-time buyer, this falls
outside Fleet’s lending policy. However, if the
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The Intermediary | September 2025
client already owned a property for at least 12
months, such as their residential home, we could
consider them as a first-time landlord.
We could also accept the application if there
was a joint borrower who was already a property
owner and a party to the mortgage. It’s important
to note that Fleet does not require applicants to
be owner-occupiers, we simply require that at
least one applicant has a minimum of 12 months’
property ownership.
FOUNDATION HOME LOANS
As this would be the customer’s first property,
we would class as a first-time buyer, first-time
landlord, but would unfortunately not be able to
accept this case. There is a potential risk of the
customer moving into the property, but also as
they have no background savings to draw upon,
we would see the potential inability to cover any
rental voids as an issue.
C AS E T WO
Multiple income sources
with irregular patterns
n applicant plans on moving home to a
new house worth £365,000. They earn
£28,000 from salaried employment,
receive £10,000 per year in freelance design work,
and an additional £6,000 annually from Airbnb
hosting in their own home.
A
