Fleet Mortgages | Buy-to-Let & Portfolio Landlord Advice

Fleet Mortgages is an intermediary-only specialist buy-to-let lender offering mortgages for individual landlords, limited companies, portfolio landlords and more specialist investment properties.

Fleet is part of Starling Bank and focuses entirely on buy-to-let rather than offering conventional residential mortgages.

At Kerr & Watson, we may consider Fleet for standard buy-to-let properties, limited company purchases, larger landlord portfolios, HMOs, multi-unit freehold blocks and landlords looking to refinance a property shortly after purchase.

Whether Fleet is suitable will depend on the applicant, rental income, existing portfolio, company structure, property type and required mortgage amount.

Could Fleet Mortgages be the right buy-to-let lender for you?

Fleet can be particularly useful for landlords who need a specialist buy-to-let lender with established criteria for portfolios, limited companies and more involved property types.

At Kerr & Watson, we compare Fleet with other suitable buy-to-let lenders to identify the mortgage most appropriate for your property and wider investment circumstances.

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Fleet Mortgages at a glance

	Fleet Mortgages
Residential owner-occupier mortgages	No
Buy-to-let mortgages	Yes
Individual landlords	Yes
Limited company BTL	Yes
Layered company structures	Can be considered
Portfolio landlords	Yes
First-time landlords	Can be considered if wider property ownership criteria are met
First-time buyers	No
Minimum personal income	No fixed minimum, but income must be evidenced
HMOs	Up to 6 bedrooms subject to criteria
MUFBs	Up to 10 self-contained units
Shared accommodation	Considered
Corporate tenancies	Considered subject to criteria
Early remortgages	Can be considered
High-rise flats	Considered
New-build flats	Considered
Ex-local authority property	Considered
Product transfers	Available for eligible existing borrowers

Mortgage products and lending criteria can change, so we check Fleet’s current requirements before recommending an application.

Fleet Mortgages Case Studies

We have helped landlords secure buy-to-let mortgages with Fleet Mortgages in a range of circumstances, including specialist cases involving HMOs, remortgages and non-standard tenancy arrangements.

The case studies below show real examples of customers we have helped and demonstrate how factors such as property type, tenancy structure, rental income, loan-to-value and lender criteria can affect the mortgage options available.

HMO remortgage in Wolverhampton with a Serco tenancy

Who are Fleet Mortgages?

Fleet Mortgages is a specialist buy-to-let lender established in 2014 and acquired by Starling Bank in 2021.

Unlike lenders that operate across residential, buy-to-let and commercial mortgages, Fleet concentrates specifically on the landlord market.

Its main mortgage ranges cover:

Standard buy-to-let.
Limited company buy-to-let.
Houses in Multiple Occupation.
Multi-Unit Freehold Blocks.

Fleet only distributes its buy-to-let products through authorised mortgage brokers and intermediaries.

When might we consider Fleet Mortgages?

We may consider Fleet where the circumstances involve:

A standard buy-to-let purchase or remortgage.
An SPV limited company.
A larger landlord portfolio.
An HMO.
A Multi-Unit Freehold Block.
A landlord purchasing their first buy-to-let property but who already owns another property.
An early remortgage following a recent purchase.
An ex-local authority property.
A flat in a high-rise block.
A property above or next to commercial premises.
Certain corporate or housing-association tenancies.
A more complicated limited-company group structure.

As always, fitting one part of the lender’s criteria does not mean Fleet will necessarily be the most suitable option.

Fleet standard buy-to-let mortgages

Fleet provides standard buy-to-let mortgages for individual landlords purchasing or refinancing residential investment property.

The amount available will normally depend heavily on whether the property’s rent meets Fleet’s Interest Coverage Ratio, or ICR.

This compares the rent with a stressed mortgage payment to establish whether the property can support the proposed borrowing.

The required rental coverage can vary according to factors such as:

The applicant’s tax status.
Whether the borrower is an individual or limited company.
The mortgage product.
The property type.

We therefore calculate the likely borrowing before an application is submitted rather than assuming that the property value alone determines the available mortgage.

Does Fleet have a minimum income requirement?

Fleet no longer applies a fixed minimum personal-income requirement.

This is a useful distinction from lenders that require landlords to earn a minimum amount from employment or self-employment regardless of how well the investment property performs.

However, Fleet still requires the applicant to declare and evidence their income.

Removing the minimum income requirement does not therefore mean personal circumstances are ignored.

The lender will still assess the overall application and needs to be satisfied that the proposed mortgage is credible and sustainable.

Fleet first-time landlord mortgages

Fleet can consider first-time landlords.

A first-time landlord is someone who does not currently own a buy-to-let property.

However, Fleet does not currently lend to true first-time buyers who have never owned a property.

The primary applicant normally needs to have owned property for at least 12 months.

This means someone who owns their own home but is purchasing their first rental property could potentially qualify, whereas someone buying their first ever property as a buy-to-let would normally require another lender.

Fleet limited company buy-to-let mortgages

Fleet has a strong limited company buy-to-let proposition.

Its standard company lending is aimed at Special Purpose Vehicles, or SPVs, set up for property ownership and letting.

Fleet currently accepts qualifying SPVs registered within:

England.
Wales.
Scotland.
Northern Ireland.

However, the property being mortgaged must still be located in England or Wales.

The borrowing company needs to use one of Fleet’s permitted property-related SIC codes.

Who needs to be on a Fleet limited company mortgage?

Fleet looks through the company to the individuals ultimately controlling it.

All directors and shareholders with a significant ownership interest generally need to be included in the mortgage application.

The applicants included must collectively represent at least the required proportion of the company’s ownership.

Fleet also requires personal guarantees from the relevant directors and shareholders, with independent legal advice normally required.

This is why we review a company’s Companies House structure before recommending a limited-company lender.

Fleet and layered limited company structures

One of Fleet’s more useful criteria areas is its ability to consider some layered company structures.

A straightforward SPV is normally owned directly by one or more individuals.

However, established landlords may instead have structures such as:

Individual shareholders → Holding company → Property SPV

Fleet can potentially consider these structures where the ownership and control throughout the company group are acceptable.

This is useful because many buy-to-let lenders will only accept an SPV owned directly by individuals.

Fleet still expects the actual borrowing company to be a qualifying property SPV.

The company structure therefore needs to be reviewed before the mortgage application is submitted.

Trading companies within a company group

Fleet’s approach to company groups can also accommodate situations where other companies within the wider group carry out trading activities.

The borrowing SPV itself still needs to satisfy Fleet’s requirements, but the existence of a trading company elsewhere within the wider group does not automatically prevent a case being considered.

The property company needs to be appropriately separated from the liabilities of the trading business and the ownership structure must remain transparent.

For more complicated company structures, we would normally establish acceptability with Fleet before making an application.

Fleet and intercompany loans

Fleet can also consider certain intercompany arrangements.

For example, funds for the property transaction may sometimes originate from another company within the wider group.

The lender will want to understand:

Where the money originated.
The relationship between the companies.
The ownership of each business.
Whether the money is being gifted or loaned.
The terms of any loan.
Whether the arrangement affects Fleet’s security.

More complex deposit structures should therefore be established before an application is submitted.

Fleet portfolio landlord mortgages

Fleet has a well-established proposition for portfolio landlords.

Fleet generally treats applicants as portfolio landlords once they collectively own four or more mortgaged buy-to-let properties, including circumstances where they own three and are applying to buy a fourth.

Properties held:

Individually.
Jointly.
Through limited companies.

can all be relevant when establishing portfolio status.

Portfolio applications undergo an additional assessment rather than Fleet looking solely at the new property.

How does Fleet assess a property portfolio?

Fleet looks at the wider property portfolio to establish whether the existing borrowing remains sustainable.

The lender currently stress tests the background portfolio and considers the aggregate loan-to-value across the properties.

Information required can include:

Property addresses.
Current values.
Mortgage balances.
Lenders.
Monthly rental income.
Ownership structure.
Mortgage payments.

Fleet also requires additional information about the landlord’s business and portfolio strategy.

This means a property with very strong rent cannot necessarily compensate for a wider portfolio that falls materially outside Fleet’s requirements.

Fleet HMO mortgages

Fleet has a dedicated range for Houses in Multiple Occupation.

Fleet can consider HMOs with up to six bedrooms, subject to its current property and landlord requirements.

A property may need to be treated as an HMO where:

An HMO licence is required.
Five or more people share the property.
The layout has been substantially changed from a normal family home.
The property contains features associated with room-by-room letting.
Fleet’s valuer considers it an HMO.

The primary applicant will normally need previous residential landlord experience.

Shared accommodation versus an HMO

Not every property occupied by unrelated tenants is automatically treated as a specialist HMO by Fleet.

Fleet can consider smaller shared households under its standard criteria where the property remains suitable for sale as a conventional family home.

This distinction can matter because standard BTL and HMO products can have different pricing and rental calculations.

We would therefore establish the number of occupants, property configuration, licensing requirements and tenancy arrangements before selecting a product.

Fleet Multi-Unit Freehold Block mortgages

Fleet can also consider Multi-Unit Freehold Blocks, commonly shortened to MUFBs.

Fleet defines a MUFB as a freehold property containing several self-contained residential units.

Its current criteria allow up to 10 self-contained units under one freehold title.

Each unit generally needs to be:

Fully self-contained.
Suitable for residential occupation.
Individually saleable in principle.
Of an acceptable internal size.

This can make Fleet useful for landlords purchasing or refinancing blocks that cannot be mortgaged as conventional single buy-to-let properties.

Properties containing two self-contained units

An interesting distinction within Fleet’s criteria is that a freehold property split into only two self-contained units may sometimes fall within its standard lending criteria rather than automatically being treated as a MUFB.

The exact treatment depends on the property and occupancy.

This can potentially give landlords access to a wider product range than if the property automatically required specialist MUFB finance.

Fleet and properties above or next to commercial premises

Fleet can consider some residential investment properties located above or adjacent to commercial premises.

The type of business nearby and its effect on the property will be important.

A quiet office underneath a flat may be viewed very differently from a late-night takeaway, nightclub or industrial premises.

The valuer will normally consider factors such as:

Noise.
Smells.
Opening hours.
Access.
Saleability.
Local demand.

The fact that a property is above commercial premises does not therefore automatically mean Fleet will accept or decline it.

Fleet ex-local authority mortgages

Fleet can consider ex-local authority houses and flats.

This includes some flats with characteristics that can be difficult with mainstream buy-to-let lenders, such as deck or balcony access.

Fleet does not apply a simple requirement that a particular percentage of the block must already be privately owned.

However, the property still needs to be acceptable security and the valuer must be satisfied that there is a suitable resale market.

Fleet and high-rise flats

Fleet removed its general height restriction on blocks of flats in March 2026.

This means high-rise flats can now be considered, subject to the remainder of Fleet’s property criteria.

For some ex-local authority flats, separate restrictions can still apply.

Higher buildings can also require additional checks around:

Construction.
Cladding.
Fire safety.
Lift access.
Lease terms.
Saleability.

The number of storeys therefore remains only one part of the overall property assessment.

Fleet new-build flats

Fleet also lends on new-build flats.

Its criteria were widened in March 2026, increasing the maximum lending available on qualifying new-build flats.

New-build applications remain subject to the lender’s normal assessment of matters including:

Valuation.
Developer incentives.
Lease terms.
Construction.
Investor concentration.
Property marketability.

We would check Fleet’s current maximum loan-to-value before making an application because these limits can change.

Fleet and studio flats

Fleet can consider studio flats subject to minimum property requirements.

Its current criteria normally require a studio to have at least 30 square metres of internal floor area.

There can also be requirements around the property’s location and value.

This makes checking the exact size important before recommending Fleet for a small studio apartment.

Fleet corporate tenancies

Fleet can also consider certain corporate tenancy arrangements.

This can include properties leased to organisations such as:

Local authorities.
Housing associations.
Registered social housing providers.
Charities.
Other qualifying corporate tenants.

The lease needs to satisfy Fleet’s requirements around matters such as its length, residential use, termination rights and subletting arrangements.

Fleet will also want to ensure that the agreement does not interfere with its ability to take possession or sell the property if necessary.

We would therefore normally review the tenancy agreement before making an application.

Fleet’s corporate-tenancy criteria can make it relevant for some landlords providing longer-term residential accommodation through local authorities or housing associations such as Serco or Mears.

However, there are important restrictions.

For example, Fleet does not generally accept arrangements where the organisation provides live-in or overnight care or supervision to the occupants.

The exact use of the property and responsibilities of the corporate tenant therefore need to be understood.

Fleet and market rent

Fleet can use the valuer’s assessment of market rent when determining mortgage affordability.

This can be useful where the existing tenancy does not accurately reflect what the property could reasonably achieve in the current rental market.

The valuer’s rental figure remains important because Fleet needs to be satisfied that the rent used for affordability is sustainable.

Fleet mortgages with adverse credit

Fleet can consider some applicants with relatively minor adverse credit.

Its criteria allow certain satisfied and unsatisfied CCJs to be considered rather than automatically declining every applicant who has a judgment registered.

The date, value and circumstances surrounding the credit issue will all matter.

Fleet remains more restrictive than lenders specialising specifically in adverse credit, so where the credit history is more substantial we may consider another lender.

Fleet mortgages for foreign nationals

Fleet widened its foreign-national criteria in July 2026.

Joint applications can now potentially include a foreign national without permanent UK residency where another applicant holds an acceptable permanent UK status.

The foreign-national applicant will normally need to:

Live in the UK.
Have an established UK residency history.
Hold an acceptable visa.
Have sufficient time remaining on the visa.

This can make Fleet relevant for some landlord couples or joint applicants who previously fell outside its criteria.

Fleet early and day-one remortgages

Fleet can consider a buy-to-let remortgage where the property has been owned for less than six months.

These cases are assessed individually.

They can be particularly relevant where the landlord:

Purchased using cash.
Used bridging finance.
Bought at auction.
Needs to refinance shortly after completion.

Fleet can accept evidence such as a TR1 at application stage where Land Registry has not yet been updated, although the borrower will ultimately need to satisfy the lender’s title requirements before completion.

Where the property’s value has increased significantly, Fleet will want to understand whether genuine works or changes to the property justify that increase.

This is an important distinction because an early remortgage does not automatically mean Fleet will lend against a new higher valuation.

Fleet product transfers

Fleet offers product transfers for eligible existing borrowers.

Product transfers are available across areas including:

Standard buy-to-let.
Limited company mortgages.
HMO and MUFB mortgages.

A product transfer allows the customer to select another Fleet product without completing a full remortgage to a different lender.

However, remaining with Fleet should still be compared with the wider buy-to-let market.

A remortgage may provide better pricing, borrowing capacity or flexibility, while a product transfer may sometimes avoid the underwriting, valuation and legal work involved in changing lender.

Where Fleet may not be suitable

Fleet is a specialist buy-to-let lender, but there are some important limitations.

Another lender may be required where:

You need a residential mortgage for your own home.
You are a true first-time buyer with no previous property ownership.
The property is in Scotland or Northern Ireland.
The application is a Consumer Buy-to-Let.
You need to borrow through a partnership.
The borrowing company is a trading company rather than an acceptable SPV.
You require a holiday-let or Airbnb mortgage.
The property falls outside Fleet’s security requirements.
The HMO or MUFB exceeds Fleet’s current size limits.
More significant adverse credit requires a specialist credit lender.
The overall property portfolio fails Fleet’s affordability assessment.

This is why we assess the complete case rather than simply looking at whether Fleet offers the required type of mortgage.

What we check before recommending Fleet Mortgages

Before recommending Fleet, we normally establish:

Whether the property is being purchased personally or through a company.
The applicant’s existing property ownership.
Wider portfolio size.
Rental income.
Property value.
Required mortgage.
Tax status where relevant to the rental calculation.
Credit history.
Employment or self-employed income.
Property type.
Tenancy arrangements.
Deposit source.

For a limited company we also review:

SIC codes.
Directors.
Shareholders.
Ultimate beneficial ownership.
Any holding companies.
Other companies within the group.
Source of deposit.

For HMOs and MUFBs, we additionally look at licensing, configuration, number of rooms or units and landlord experience.

This helps establish whether Fleet genuinely fits the transaction before an application is submitted.

Do you have to use Fleet Mortgages?

No.

Kerr & Watson is an independent, whole-of-market mortgage brokerage, so we can compare Fleet with other suitable buy-to-let lenders.

Fleet can be particularly relevant for portfolio landlords, limited companies, HMOs and multi-unit properties.

However, another lender may offer a better rental calculation, greater property flexibility, more suitable company criteria or a lower overall mortgage cost.

Our role is to recommend the lender and mortgage that provide the most suitable overall solution for your circumstances.

Speak to a mortgage adviser about Fleet Mortgages

If you are considering Fleet for a standard buy-to-let, limited company, portfolio, HMO or multi-unit property, we can review the transaction before an application is made.

We can assess the property, rental income, ownership structure and wider portfolio before comparing Fleet with other suitable buy-to-let lenders.

Speak to an Adviser

Lender criteria, affordability calculations, product availability and lending terms can change. The information on this page is intended as a general guide and should not be relied upon as confirmation that a lender will accept a particular application or that a particular mortgage or finance product will be suitable for you.

The information on this page does not constitute personalised mortgage advice or a recommendation. The regulatory status of a mortgage or loan depends on the type of transaction and your circumstances. Many buy-to-let and commercial mortgages, and some bridging loans, are not regulated by the Financial Conduct Authority. Your home or other property may be repossessed if you do not keep up repayments on a mortgage or other loan secured against it.

Written by Daniel Watson, CeMAP, DipMAP

Published: 3 September 2024

Last updated: 9 October 2026

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   Sergiu Balmus 
 8 October 2026
 
 
  A huge thank you to Kerr & Watson for helping us secure our mortgage!

A special thank you to Andreea, who has been absolutely amazing throughout the entire process. She was professional, patient, supportive and always kept us updated, making everything much easier and less stressful.

We truly appreciate all your help and would highly recommend your services!
  
 
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 6 October 2026
 
 
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 6 October 2026
 
 
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 6 October 2026
 
 
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 2 October 2026
 
 
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 30 September 2026
 
 
  I can't recommend Kerr & Watson enough. I moved from another provider I had been using for 20+ years due to missing a purchase after multiple delays and errors. Kerr & Watson took me in as a customer and out did any expectations I had. They also taught me more about mortgages than I thought I knew, making the process easy. A great all round service by every member of the team, at every step.
  
 
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 24 September 2026
 
 
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 24 September 2026
 
 
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   Dani 
 24 September 2026
 
 
  We had a very positive experience with Kerr & Watson. The adviser, Marie Kitchen, was very professional, responsive and helpful throught the entire re-mortgage process. She took the time to explain each step clearly, answered our questions promptly and kept us informed of the progress of our application. We are very satisfied with the service and would be happy to recommend the company to others looking for a mortgage assistance 😊
  
 
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   Jonny Hornzee 
 23 September 2026
 
 
  The whole team at Kerr & Watson were extremely helpful and communicative. Highly recommend.

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Frequently Asked Questions About Fleet Mortgages

▸ ▾ Is Fleet Mortgages a good buy-to-let lender?

Fleet Mortgages can be a good buy-to-let lender for the right landlord, especially where the case needs a specialist buy-to-let approach. They may be considered for standard buy-to-let properties, limited company landlords, HMOs, multi-unit blocks and portfolio landlord cases.

That does not mean Fleet will be the best lender for every landlord. The right option depends on your rental income, property type, deposit, landlord experience, ownership structure and wider circumstances. Kerr & Watson can compare Fleet with other buy-to-let lenders and explain which route is most suitable.

▸ ▾ Do I need a mortgage broker to apply to Fleet Mortgages?

Fleet Mortgages is an intermediary-only lender, which means landlords usually apply through a mortgage broker rather than directly with the lender.

Using a broker can be helpful because buy-to-let lending is often criteria-led. Kerr & Watson can check whether your case fits Fleet’s requirements, review the rental calculation and compare other lenders before an application is submitted.

▸ ▾ Can Kerr & Watson help me apply to Fleet Mortgages?

Yes, Kerr & Watson can help with Fleet Mortgages buy-to-let applications. We can review your property, rental income, deposit, landlord experience, ownership structure, personal income and wider portfolio before deciding whether Fleet is the right lender to approach.

If Fleet is suitable, we can help prepare and submit the application. If another buy-to-let lender is a better fit, we will explain why and guide you through your options.

▸ ▾ Does Fleet Mortgages offer limited company buy-to-let mortgages?

Yes, Fleet Mortgages may consider limited company buy-to-let mortgages, subject to their lending criteria and product availability. This can be useful for landlords buying or remortgaging through a special purpose vehicle or limited company structure.

Limited company buy-to-let applications can be more detailed than personal buy-to-let cases. The lender may review the company structure, directors, shareholders, rental income, deposit source and overall affordability.

▸ ▾ Can portfolio landlords use Fleet Mortgages?

Fleet Mortgages may be suitable for portfolio landlords, depending on the property, rental income, portfolio background and overall strength of the case.

Portfolio landlord applications often need careful preparation because lenders may look at both the new mortgage and the wider portfolio. Kerr & Watson can help organise the information needed and compare Fleet against other portfolio landlord lenders.

▸ ▾ Does Fleet Mortgages offer HMO mortgages?

Accord Mortgages may consider self-employed applicants, subject to their lending criteria. The way your income is assessed can depend on your business structure, trading history, accounts and tax documents.

Self-employed mortgage applications often need careful preparation. Kerr & Watson can review your income, accounts, tax calculations and supporting documents before advising whether Accord is likely to be suitable.

▸ ▾ Does Fleet Mortgages offer multi-unit block mortgages?

Fleet Mortgages may consider multi-unit block mortgages, depending on the property and the lender’s criteria. A multi-unit block is usually a property split into separate self-contained units under one title.

These cases can be more complex than a standard buy-to-let application. Kerr & Watson can review the property structure, rental income and landlord position before advising whether Fleet or another specialist lender is more suitable.

▸ ▾ How much can I borrow with Fleet Mortgages?

How much you can borrow with Fleet Mortgages will usually depend on the property value, rental income, deposit, loan-to-value, interest coverage calculation and your wider circumstances.

Buy-to-let borrowing is often driven by the rental income rather than personal income alone. Kerr & Watson can check the rental calculation and compare Fleet with other buy-to-let lenders to see what may be possible.

▸ ▾ Can I remortgage to Fleet Mortgages?

Yes, Fleet Mortgages may be an option if you want to remortgage a buy-to-let property. This could be to secure a new rate, raise capital, move from another lender or restructure your property finance.

Before remortgaging, it is worth reviewing the interest rate, product fees, rental stress testing, property value, early repayment charges and your longer-term plans. Kerr & Watson can help compare Fleet with other buy-to-let lenders and recommend the most suitable route.

▸ ▾ Is Fleet Mortgages the best buy-to-let lender for me?

Fleet Mortgages may be a suitable lender for some landlords, but it will not be the best option for every case. The right lender depends on your property, rental income, deposit, ownership structure, portfolio size, tax position and investment plans.

Kerr & Watson can compare Fleet with other specialist buy-to-let lenders and explain which option is most suitable. This can help you avoid applying to the wrong lender and give you a clearer route forward.

Common Mortgage Lender Questions

▸ ▾ How do I know which mortgage lender is right for me?

The right mortgage lender will depend on your income, deposit, credit history, property type, borrowing amount and long-term plans. Some lenders are better suited to straightforward residential mortgages, while others specialise in buy-to-let, complex income, adverse credit, commercial property or larger loans. A mortgage adviser can compare lenders and help identify which option may be most suitable for your circumstances.

▸ ▾ Do all mortgage lenders use the same criteria?

No. Every mortgage lender has its own lending criteria, affordability model, credit scoring system, property requirements and risk appetite. This means one lender may decline an application that another lender is comfortable considering. Lender selection is an important part of the mortgage process.

▸ ▾ Why use a mortgage broker instead of applying directly to a lender?

A mortgage broker can help compare lenders, check criteria before you apply and explain which options may be suitable for your circumstances. This can be especially useful if you are self-employed, have complex income, need a buy-to-let mortgage, have previous credit issues or are unsure which lender is likely to accept your application.

▸ ▾ Can a whole-of-market mortgage broker access more lenders?

A whole-of-market mortgage broker can review a wide range of lenders and products, including high street banks, building societies, specialist lenders and intermediary-only lenders. This can give you a broader view of your options than approaching one lender directly.

▸ ▾ What is an intermediary-only mortgage lender?

An intermediary-only lender is a lender that usually accepts applications through mortgage brokers rather than directly from customers. These lenders may offer products or criteria that are not available by applying directly online or through a branch. A mortgage broker can check whether an intermediary-only lender may be suitable for your case.

▸ ▾ Does the lowest mortgage rate always mean the best lender?

Not always. The lowest rate may look attractive, but it is not automatically the best option. You also need to consider lender fees, affordability, criteria, product terms, early repayment charges, valuation requirements, service levels and whether the lender is likely to approve your application.

▸ ▾ Do mortgage lenders calculate affordability differently?

Yes. Mortgage lenders use different affordability calculators and assumptions. They may treat income, bonuses, commission, overtime, self-employed income, pension income, benefits, debts and childcare costs differently. This means the amount you can borrow may vary significantly from one lender to another.

▸ ▾ Can a mortgage lender decline me even if I can afford the mortgage?

Yes. Mortgage lenders do not assess affordability alone. They may also review your credit history, employment type, income structure, deposit source, property type, loan-to-value, age, commitments and overall risk profile. Even if the monthly payment seems affordable, a lender may still decline the case if it does not meet their criteria.

▸ ▾ If one lender declines me, can another lender still approve me?

Yes. A decline from one lender does not necessarily mean you cannot get a mortgage. Lenders assess applications differently, so another lender may take a more suitable view of your income, credit history, property or deposit. It is important to understand why the application was declined before approaching another lender.

▸ ▾ Do lenders treat self-employed income differently?

Yes. Some lenders use the latest year’s income, while others average the last two years or assess salary and dividends for limited company directors. Some lenders may also consider retained profit, contractor income or more complex trading structures. Choosing the right lender can make a significant difference for self-employed applicants.

▸ ▾ Do mortgage lenders accept bad credit?

Some lenders may consider applicants with bad credit, depending on the type, age and severity of the credit issue. Missed payments, defaults, CCJs, debt management plans, IVAs and previous arrears are all assessed differently by different lenders. A specialist lender may be more suitable if you have historic credit problems.

▸ ▾ Can Kerr & Watson help me choose between mortgage lenders?

Yes. Kerr & Watson can review your circumstances, compare suitable lenders and explain which options may be available. We can help with residential mortgages, buy-to-let mortgages, specialist lending, complex income, adverse credit, bridging, commercial finance and later life lending, depending on your needs.