We’re experts in buy to let mortgages

A mortgage for properties you intend to rent out to earn an income.

Usually at least 25% of the property value.

You'll pay income tax on rental income and possibly Capital Gains Tax when you sell the property.

No, these mortgages are for rental properties only.

Lenders typically require that rental income covers 125-145% of the mortgage payments.

Repayment includes both interest and principal; interest only includes just the interest.

Ensuring the property is safe and habitable, complying with tenancy agreements and managing repairs.

Yes, to get a better rate or release equity.

It can increase or decrease your monthly mortgage payments.

A typical mortgage applicant can expect to borrow four and half times their annual income. This should not be affected by your employment type unless your income is low or you have a poor credit score.

There is no specific deposit requirement needed by self-employed applicants and the minimum deposit usually needed for a standard residential mortgage is 10%. That being said, with a short trading history, you will increase your chances of securing a mortgage if you are able to offer more than the minimum deposit requirement. This can also give you access to more competitive mortgage rates.

All of the government home ownership schemes were created to help those applicants who would struggle to get a mortgage under normal circumstances. This extends to self-employed applicants and, although there will certainly be less availability if you have fewer years of accounts available, Yomo Finance will be able to help you.

All of the government home ownership schemes were created to help those applicants who would struggle to get a mortgage under normal circumstances. This extends to self-employed applicants and, although there will certainly be less availability if you have fewer years of accounts available, Yomo Finance will be able to help you.

Tax returns, business accounts and possibly a reference from an accountant. This all depends on whether you are a sole trader, a director of a Limited Company or are in a partnership.

Usually, two to three years of accounts. However, you can get a mortgage with one year's books.

Yes, but you may need to provide more evidence of income stability. Typically you would need 12 months history.

They typically look at your average income over the past two to three years.

Keep thorough records, pay your taxes on time and maintain a good credit score. You should also limit the amount of expenses you put through in order to maximise your income.

Yes, some lenders are more flexible with self-employed applicants.

Lenders prefer stable and predictable income but may consider averages.

Your income may be assessed differently, focusing on salary and dividends.

They can be, depending on the perceived risk by the lender but most do not charge higher interest rates for self-employed applicants.