In this chapter you will find all the addresses, phone numbers and web sites you will ever need to get started in property investment. This chapter covers:

i)         100 per cent LTV mortgage providers

ii)               List of buy-to-let mortgage providers

iii)              List of property web sites

iv)             Mortgage brokers

v)              List of accommodation projects

vi)             List of hotspots

vii)            List of freephone/lo-call providers

viii)           List of credit checking agencies

ix)             Guaranteed rent & maintenance providers

x)              Letting agents

xi)             Management software providers

  • Local newspapers
  1. i) 100 per cent mortgage providers

100 per cent mortgage providers can fund the whole purchase price of a property. Some providers below also refund the valuation and legal fees.

Lender:Royal Bank of Scotland
Tel:0800 121121
Arrangement fee:Nil
Valuation/legal fee refunds:N/A
Cashback:Nil
Early redemption penalty:3% until 01/01/2004 then 2% until 01/01/2005
Mortgage indemnity premium:Applied above 90%
Conditional insurances:N/A
How much you can borrow:Single income: 3.25 times
Joint incomes: 3.25 times main income plus 1 times second income or 2.75 x joint income
Notes:2% discount. Lender charges interest on a daily basis. Free accident, sickness and unemployment cover for 3 months. Higher income multiples for professionals.

 

Lender:Bank of Scotland
Tel:0845 3060032
Arrangement fee:£300.00
Valuation/legal fee refunds:N/A
Cashback:Nil
Early redemption penalty:Repay discount received within 3 years thereafter £150
Mortgage indemnity premium:Applied above 75%
Conditional insurances:N/A
How much you can borrow:Single income: 3.25 times
Joint incomes: 3.25 times main income plus 1 times second income or 2.75 x joint income
Notes:1% discount. Higher income multiples for professionals.

 

Lender:NatWest
Tel:0800 400999
Internet:http://www.natwest.co.uk
Arrangement fee:Nil
Valuation/legal fee refunds:N/A
Cashback:Nil
Early redemption penalty:None
Mortgage indemnity premium:Applied above 90%
Conditional insurances:N/A
How much you can borrow:Single income: 3.25 times
Joint incomes: 3.25 times main income plus 1 times second income or 2.75 x joint income
Notes:Will not lend in Northern Ireland. 1% discount.

 

Lender:Scottish Widows Bank
Tel:0845 8450829
Arrangement Fee:Nil
Valuation/legal fee refunds:Valuation fees refunded - maximum £250
Legal fees refunded - maximum £150
Cashback:Nil
Early redemption penalty:Legal and valuation fees reclaimed within 3 years
Mortgage indemnity premium:N/A
Conditional insurances:N/A
How much you can borrow:Single income: 4 times
Joint incomes: 4 times main income plus 1 times second income or 3 x joint income
Notes:Will not lend in Northern Ireland. Cheque book facility available. Available only to Medical Doctors, Dentists, Accountants, Teachers, Optometrists and Solicitors. Payment holidays allowed. Lender charges interest on a daily basis. Not available for remortgages. Professional Mortgage: Lending available up to 110% LTV, additional 10% is on unsecured basis over a maximum 10-year period.

 

Lender:Northern Rock
Tel:0845 6050500
Internet:http://www.northernrock.co.uk
Arrangement fee:£395.00
Valuation/legal fee refunds:N/A
Cashback:£500.00
Early redemption penalty:Repay cashback within 2 years in full and half within year 3
Mortgage indemnity premium:N/A
Conditional insurances:N/A
How much you can borrow:Single income: 3.25 times
Joint incomes: 3.25 times main income plus 1 times second income or 2.6 x joint income.
Notes:Will not lend in Northern Ireland. Free accident, sickness and unemployment cover for 6 months. Scheme allows 75% mortgage secured against the property and up to 30% unsecured. Lender charges interest on a daily basis. Credit Card can be applied for after 6 months with guaranteed spend of £5,000 and set at Company's Standard variable rate, currently 6.30%. Rate guaranteed to remain below the rate of the 90% tier of the together variable rate (currently 5.59%). Not available for remortgages. Lower arrangement fee applies for existing customers not moving home. Ability to overpay, underpay and take payment holidays.

 

Lender:Mortgage Express
Tel:0500 212854
Arrangement Fee:£325.00
Valuation/legal fee refunds:N/A
Cashback:Nil
Early redemption penalty:3 Months interest within 1 year
Mortgage indemnity premium:N/A
Conditional insurances:N/A
How much you can borrow:Single income: 3.25 times
Joint incomes: 3.25 times main income plus 1 times second income or 2.75 x joint income.
Notes:Will not lend in Northern Ireland. Scheme is Bank of England base rate (currently 4.00%) plus 2% with a 0.50% discount for life of mortgage. Ability to overpay, underpay and take payment holidays.

 

Lender:Yorkshire Building Society
Tel:0845 1 200 100
Internet:http://www.ybs.co.uk
Email:Dept_Callcentre@ybs.co.uk
Arrangement fee:Nil
Valuation/legal fee refunds:N/A
Cashback:Nil
Early redemption penalty:None
Mortgage indemnity premium:Applied above 90%
Conditional insurances:N/A
How much you can borrow:Single income: 3 times
Joint incomes: 3 times main income plus 2 times second income or 0 x joint income.
Notes:Scheme is standard variable rate (currently 5.45%) plus 0.25% for term. Minimum age 25. Lender charges interest on a daily basis. Enhanced income multiples available for purchase (not first time buyers) for those aged over 40, refer to lender for details. Free mortgage payment protection insurance for first 6 months. Ability to overpay, underpay and take payment holidays. Not available for remortgages.

 

Lender:Freedom Finance Mortgage & Loans Ltd.
Tel:01625 416000
Email:office@Freedommortgage.co.uk
Arrangement fee:£299.00
Valuation/legal fee refunds:N/A
Cashback:Nil
How much you can borrow:Single income: 3 times
Joint incomes: 3 times main income plus 1 times second income or 2.5 x joint income
Notes:Will not lend in Northern Ireland. Product only available via Freedom Finance Mortgage & Loans Ltd. who may charge additional fees.

 

 

 

Lender:Leeds & Holbeck
Tel:08000 725726
Internet:http://www.leeds-holbeck.co.uk
Email:info@leeds-holbeck.co.uk
Arrangement fee:Nil
Valuation/legal fee refunds:N/A
Cashback:£250.00
Early redemption penalty:6 months at Standard Variable Rate
Mortgage indemnity premium:N/A
Conditional insurances:Contents Buildings
How much you can borrow:Single income: 3 times
Joint incomes: 3 times main income plus 1 times second income or 2.5 x joint income.
Notes:Enhanced income multiples available for lower loan to values. Enhanced income multiples also available for professional occupations, (refer to lender), to 90% loan to value. 0.24% Loading if lender's buildings and contents not taken until 01/04/2005. Free mortgage payment protection for 6 months is available; refer to lender for full details.

 

Lender:Sainsburys Bank
Tel:0500 700600
Valuation/legal fee refunds:N/A
Cashback:Nil
Early redemption penalty:6 months
Mortgage indemnity premium:Applied above 90%
Conditional insurances:N/A
How much you can borrow:Single income: 3 times
Joint incomes: 3 times main income plus 1 times second income or 2.5 x joint income
Notes:Lender charges interest on a daily basis.

 

Lender:Cheltenham & Gloucester
Tel:0800 272131
Internet:http://www.moneynet.co.uk/cheltglosjump.htm
Email:enquiries@cgdirect.demon.co.uk
Valuation/legal fee refunds:Valuation fees refunded
Cashback:Nil
Early redemption penalty:2% until 30/04/2003 then 1% until 30/04/2004
Mortgage indemnity premium:N/A
Conditional insurances:N/A
How much you can borrow:Single income: 3 times
Joint incomes: 3 times main income plus 1 times second income or 2.5 x joint income.
Notes:Will not lend in Northern Ireland. Also available with builders deposit scheme, Right to Buy Local Authority and Housing Association schemes. Arrangement fee paid by lender for existing C&G, Lloyds Bank and TSB mortgage customers moving home (England & Wales only).

 

Lender:Nationwide
Tel:0800 302010
Arrangement fee:Nil
Valuation/legal fee refunds:Valuation fees refunded
Cashback:Nil
Early redemption penalty:None
Mortgage indemnity premium:N/A
Conditional insurances:N/A
How much you can borrow:Single income: 3.25 times
Joint incomes: 3.25 times main income plus 1 times second income or 2.75 x joint income
Notes:CAT standards apply. Lender will use affordability calculation to calculate potential loan size - refer to lender for details. Lender charges interest on a daily basis. Rate capped at 0.50% above Base mortgage rate (currently 5.24%) and guaranteed to be no more than 2% above Bank of England Base rate (currently 4.00%). Ability to overpay, underpay and take payment holidays 
  1. ii) Buy-to-let mortgage providers

If you wish to approach a lender direct then you can refer to this list. The mortgage companies listed below will fund anywhere between 50 per cent to 85 per cent of the purchase price of an investment residential property. Some of these lenders require that you are employed or earning in excess of a certain limit. I have listed them in descending LTVs. Thus the higher up the list your choice of lender is the greater the buying power you have.

85 per cent LTV

Lender:Bristol & West
Tel:0845 300 8000
Internet:http://www.bristol-west.co.uk
Email: 
Arrangement fee:Nil
Repayment options:Any
Life insurance required:No
Acceptable areas:England and Wales
Notes:1. Minimum valuation of any property: £30,000. 2. DSS tenants are allowed. 3. No first time buyers. 4. Anticipated rent must be greater, or equal to, 125% of interest payment based on 9% charge rate. 5. Minimum income of £15,000 required. 6. Maximum of five properties per applicant allowed, total borrowing of £500,000. 7. Borrowers must be over 25. 8. Ability to overpay, underpay and take payment holidays. 9. Scheme is Bank of England base rate (currently 4.00%) plus 0.25%. 10. Booking fee of £399 is payable. 11. Employed applicants: Last months payslip and employers reference. 12. Self-employed applicants: Agreed tax assessments from the latest year, latest year audited accounts, prepared by a chartered, certified, or authorised public accountant. A letter from a chartered, certified or authorised public accountant confirming the applicants salary or share of profit.

 

Lender:Paragon
Tel:0800 375777
Internet:http://www.paragon-mortgages.co.uk
Email:mortgages@paragon-group.co.uk
Arrangement fee:£500.00
Repayment options:Any
Life insurance required:Yes
Acceptable areas:England, Wales and Scotland allowed
Notes:1. Minimum valuation of any property: £33,333. 2. Minimum lease allowed: 40 years on maturity of mortgage. 3. Up to 50% of the rental income may be added to applicant’s income, provided this does not exceed 20% of individual’s total income. Although for more than one property lending different rules apply. 4. DSS, council or student tenants allowed. 5. No ex -local authority, studio or shared ownership properties allowed. 6. Will lend to limited companies. 7. Arrangement fee of between £200-£1,000 charged depending on circumstances. 8. Lender allows non-status lending, usually to 65%, at a higher rate. 9. Scheme is a LIBOR linked plus 0.75% in the first year, and 1.75% thereafter. 10.Lender offers a free switch at any time to one of its new fixed or capped rates for applicants who have taken either the variable or LIBOR linked tares. 11. No up front valuation fees. 12. Will consider single property divided into maximum 20 units, minimum valuation £100,000. 13. Will consider single property divided into maximum 10 units, minimum valuation £50,000. 14. Minimum age of applicants 21.

 

Lender:Birmingham Midshires
Tel:01902 302591
Internet:http://www.bm-solutions.co.uk
Email:Lending@birminghammidshires.co.uk
Arrangement fee:£299.00
Repayment options:Any
Life insurance required:No
Acceptable areas: 
Notes:1. Minimum valuation: £40,000 (£75,000 in London). 2. Limit of 10 buy-to-let properties per borrower up to a limit of £100,000. 3. Rental income can be used if 125% of monthly mortgage payments. 4. Holiday lets acceptable. 5. Multiple lets including student lets are not acceptable. 6. Refer to lender for terms for expatriates. 7. Intermediary only. 8. Lender will allow 1 satisfied CCJ and arrears of £250 registered within the last 2 years. 9. 0.76% discount. 10. Minimum declared income £10,000 p/a.

 

Lender:Freedom Finance Mortgage & Loans Ltd.
Tel:01625 416000
Internet:http://www.FreedomFinance.co.uk
Email: 
Arrangement fee:£500.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England, Scotland, Wales and Northern Ireland.
Notes:1. Rental income must exceed 130% of mortgage repayments. 2. Up to 10 properties allowed (£250,000 per property). 3. Bank of England base rate (currently 4.00%) plus 2%. 4. Arrangement fee is 1% of loan.

 

Lender:Future Mortgages
Tel:0800 389 1221
Internet:http://www.future-mortgages.co.uk
Email:sales@future-mortgage.co.uk
Arrangement fee:£149.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England, Wales and Scotland.
Notes:1.Minimum valuation of any property: £50,000 for London postcodes and £20,000 for other areas. 2.Minimum lease allowed: 25 years on maturity of mortgage. 3. Lending will be based on rental income being 1.25 X the gross monthly payment. 4.Loans above £200,001 charged an additional 0.5% on the interest rate and 1% for loans below £25,001. 5.Lender charges an additional fee of £295 which is added to the loan on completion. 6.Lender requires a specialist letting report to be undertaken with cost of £50 being met by applicant. 7. Rate is LIBOR (currently 4.00%) plus a minimum of a 3% loading. 8. Lender will allow adverse credit - CCJ'S, any number to £3,000 and arrears of 3 months in last 12 months (none in last 3 months). 9. Maximum of 5 loans (4 rental and primary residence) total £500,000. 10. Discharged bankrupts allowed within last 6 months but must provide last 3 months bank statements.

80 per cent LTV

Lender:UKCFG**
Tel:01732 763660
Email:sevenoaks@mortgagesforbusiness.co.uk
Arrangement fee:£500.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England, Wales and Scotland allowed
Notes:1.Minimum valuation of any property: £62,500. 2.Minimum lease allowed: 25 years on maturity of mortgage. 3.Gross rental income to exceed mortgage payment by 30%. 4. DSS, council or student tenants not allowed. 5. No ex -local authority, studio or bedsit property allowed. 6. Product only available via UKCommercial Funding Group members who are accredited to the NACFB and may charge additional fees. 7. Rate reverts to Bank of England base rate (currently 4.00%) plus 1.50% for loans up to 75% and plus 1.75% for loans up to 80%. 8. Unlimited number of properties to maximum £1million total loans.
  

 

Lender:Chelsea
Tel:0800 291291
Internet: 
Email: 
Arrangement fee:£440.00
Repayment options:Any
Life insurance required:No
Acceptable areas: 
Notes:1. Scheme is standard variable rate (currently 5.69%) plus 0.25% with 2.00% discount for 6 months. 2. Anticipated rent must be greater, or equal to, 125% of interest payment based on standard variable rate. 3. Maximum of five properties per applicant allowed, total borrowing of £500,000. 4. Property must be self-contained and have no more than five bedrooms and no more than one kitchen. 5. The letting must be on the basis of a single letting on the entire property and be on an Assured Shorthold Tenancy. The term of the letting must be for no longer than 6 months. The property must be either vacant or have a pre-existing Assured Shorthold tenancy subject to a maximum tenancy of 6 months.

 

Lender:Coventry
Tel:0845 766 5522
Internet:http://www.coventrybuildingsociety.co.uk
Email:csc@coventrybuildingsociety.co.uk
Arrangement fee:£400.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England, Wales and Main Land Scotland
Notes:1. Property must be let on an assured shorthold tenancy. 2. Not available to companies or partnerships. 3. Minimum annual income for main earner is £25,000. 4. Employed applicants must be in permanent employment and have been so continuously for 12 months. 5. Self-employed verified via last two years accounts. 6. Flats in block of no more then 5 storeys allowed, maximum loan 75%. 7. Applicant must be aged 25 years or above. 8. Monthly rental must be at least 130% of monthly mortgage interest. 9. No studio flats or converted for multi-occupancy properties or student lets. 10. Maximum of 4 properties allowed, maximum loan of £500,000. 11.Discounted legal fees for remortgages, the £285 fee will be added on completion. 12. 1.50% discount.

 

 

Lender:Scottish Building Society
Tel:0131 220 1111
Internet: 
Email: 
Arrangement fee:Nil
Repayment options:Any
Life insurance required:No
Acceptable areas:Scotland
Notes:1.1% discount. 2. Maximum of three properties per applicant allowed. 3. Maximum total borrowing must not exceed £250,000. 4. Total borrowing should not be more than 3 times prime income plus 50% of rental income plus second income or 2.5 times joint plus 50% of rental income. 5. Maximum term 40 years. 6. Available on these terms to customers based in Scotland. 7. Flexible options, ability to make over and under payments and payment holidays.

 

Lender:Britannic Money Plc.
Tel:01372 737737
Internet:http://www.britannicmoney.com
Email:info@britannicmoney.com
Arrangement fee:£500.00
Repayment options:Any
Life insurance required:Yes
Acceptable areas:National coverage.
Notes:1. Minimum valuation of any property; £40,000. 2. Minimum lease allowed 30 years on maturity of mortgage. 3. Minimum fee charged £500. 4. Applicants must be residential homeowners (minimum 1 year). 5. The rental income must be at least equal to 130% of the monthly payment as calculated at the charging rate. 6. DSS, council or student tenants not allowed. 7. Curriculum Vitae required on all applicants. 8. Lender may advance more than normal maximum if a suitable investment policy with a surrender value can be assigned. 9. Rate charged is LIBOR plus 1.40% loading. 10. Now available to UK ex-pats at 70%. 11.Lender also offers self- certification of income facility to 80% LTV. 12. 0.75% discount for 2 years. 13. Refer to lender to consider multiple properties, Portfolio Cases Only, up to £1 million at 80% loan to value and above £1 million by negotiation.

 

Lender:Legal & General Bank
Tel:0500 666555
Internet:http://www.landg.com
Email: 
Arrangement fee:£150.00
Repayment options:Interest only
Life insurance required:Yes
Acceptable areas:Fully national
Notes:1. Minimum valuation of any property: £35,000. 2. Minimum lease allowed: 50 years on maturity of mortgage. 3. DSS and council not considered. 4. Scheme is 1%, 0.75%, then 0.50% discount in year 3. 5. Minimum annual gross income £15,000. 6. Rental income to be a minimum of 130% of mortgage repayments. 7. Minimum age of applicants 25. 8. No first time buyers, i.e. must have main residential mortgage. 9. Overpayments and draw down facility. 10. £400 cashback. 11. Free valuation. 12. Lettings to student tenants allowed providing there are no more then five bedrooms and no more then seven tenants.

 

Lender:Scarborough
Tel:08705 133149
Internet:http://www.scarboroughbs.co.uk
Email: 
Arrangement fee:£325.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England and Wales
Notes:1. Will not lend in Scotland or Northern Ireland. 2. 1.04% discount. 3. Income multiples 3 x main, plus 1 x second or 2.5 x joint income, also up to 50% of rental income on a stand alone basis. 4. 1 property maximum. 5. Minimum age of applicant 18. 6. Minimum valuation: £50,000. 7. Capital Raising criteria for those applicants between 55 and 80, maximum 60% loan to value, minimum valuation: £50,000, maximum term: 25 years and maximum age at maturity: 80.

 

Lender:Verso
Tel:0845 8 403020
Internet: 
Email: 
Arrangement fee:£500.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England, Wales and Scotland.
Notes:1. Minimum valuation of any property: £30,000. 2. Multiple properties allowed, maximum loan based on each property not on total of portfolio. 3. Minimum age: 21. 4. Rental income to equal 125% of amount of mortgage calculated at 7%. 5. DSS, council, company lets, tenants with diplomatic immunity and multi-let properties not allowed. 6.Only available through brokers. 7. Arrangement fee 1% of advance (minimum £500). 8. Assured shorthold tenancy for a maximum of 12 months. 9. Only 1 tenancy per property. 10. Applicants must be UK or EU nationals, resident and employed in the UK. 11. Verso may insist on the appointment of a suitably qualified letting agent. 12. Bank of England base rate (currently 4.00%) plus 0.98%.

 

Lender:UCB Home Loans
Tel:0645 401400
Internet:http://www.ucb.co.uk
Email: 
Arrangement fee:£495.00
Repayment options:Any
Life insurance required:No
Acceptable areas: 
Notes:1. Scheme is Bank of England base rate (currently 4.00%) plus 1.99% with a 1% discount for three years. 2. DSS, council or student tenants not allowed. 3. Income can be based on both personal and rental income. 4. Self-certification applicants welcome. 5. Applicants can borrow up to 3.25 + 1 times income or 2.75 joint plus up to 6.5 times annual rental income if intending to let. 6. Purchase 2 properties in addition to main residence. 7. Main residence can be remortgaged to raise capital.

 

Lender:West Bromwich
Tel:0121 580 6404
Internet:http://www.westbrom.co.uk
Email: 
Arrangement fee:£295.00
Repayment options:Any
Life insurance required:Yes
Acceptable areas:National coverage
Notes:1. Minimum valuation of any property: £35,000. 2. Minimum lease allowed: 40 years on maturity of mortgage. 3. No ex-local authority or pre-1920 terraced property allowed. 4. DSS or council tenants not allowed. 5. Rent guarantee policy may be required. 6. Maximum of three properties allowed. 7. Rental income to be 150% of mortgage repayment. 8. 0.75% discount. 9. Capital repayments up to 10% allowed each year without penalty.

 

Lender:NewWorld
Tel:0845 845 4455
Internet:http://www.mynewworld.com
Email: 
Arrangement fee:£500.00
Repayment options:Interest Only
Life insurance required:No
Acceptable areas:England & Wales
Notes:1. Maximum loan (over £500,000) will be based on affordability. 2. Up to 75% of gross rental income allowed. 3. Property exclusions, flying freehold, freehold flats, vacant land and shared ownership schemes. 4. UK residents over 18 years old. 5. Self-employed you will need 3 years statements of trading profits certified by accountant. 6. Single or multiple borrowers (maximum of 4). 7. The capped rate detailed is the maximum amount you will pay under this scheme. Payments are calculated on the introductory rate or the standard variable rate, whichever is the lower. 8. Scheme is capped at 6.99%. 9. Booking fee of £295 applies.

 

Lender:Capital Home Loans
Tel:020 7624 5118
Internet:http://www.chlmortgages.co.uk/
Email: 
Arrangement fee:£500.00
Repayment options:Any
Life insurance required:No
Acceptable areas:Mainland England, Wales and Northern Ireland
Notes:1. Minimum valuation of any property: £40,000 (minimum of £50,000 for one-bedroom flats/maisonettes). 2. Minimum lease allowed, 35 years on maturity of mortgage. 3. Minimum arrangement fee: £300. 4. Applicants must be resident and paying UK tax for a minimum of 3 years. 5. Applicants must be existing home owners with an outstanding mortgage or be a limited company /property developer/commercial landlord. 6. Rental income must be at least 150% of the mortgage interest. 7. DSS, council or student tenants not allowed. 8. Loans over £637,500 by negotiation. 9. Scheme is Bank of England base rate (currently 4.00%) plus 1.24%.

 

Lender:Irish Permanent
Tel:0208 748 0258
Internet:http://www.chlmortgages.co.uk
Email: 
Arrangement fee:£500.00
Repayment options:Any
Life Insurance required:No
Acceptable areas:Mainland England, Wales and Northern Ireland.
Notes:1. Minimum valuation of any property: £40,000 (minimum of £50,000 for one-bedroom flats/maisonettes). 2. Minimum lease allowed, 35 years on maturity of mortgage. 3. Minimum arrangement fee: £300. 4. Applicants must be resident and paying UK tax for a minimum of 3 years. 5. Applicants must be existing home owners with an outstanding mortgage or be a limited company /property developer/commercial landlord. 6. Rental income must be at least 150% of the mortgage interest. 7. DSS, council or student tenants not allowed. 8. Loans over £637,500 by negotiation. 9. Scheme is Bank of England base rate (currently 4.00%) plus 1.24%.

 

Lender:Royal Bank of Scotland
Tel:0800 121121
Internet:http://www.royalbankscot.co.uk
Email: 
Arrangement fee:£250.00
Repayment options:Any
Life insurance required:Yes
Acceptable areas:Nationwide
Notes:1. Maximum of two properties per applicant allowed. 2. Maximum total value £1million. 3. Minimum fee is 0.5% plus £295. 4. Rental income must exceed 130% of mortgage repayments. 5. Lender will use affordability calculation to calculate potential loan size, refer to lender for details. 6. Ability to overpay and take payment holidays. 7. DSS or council tenants not allowed. 8. Maximum term of 25 years.

 

Lender:Skipton
Tel:01756 705000
Internet:http://www.skipton.co.uk
Email: 
Arrangement fee:£125.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England, Wales and Scotland
Notes:1. Minimum valuation of any property: £40,000. 2. Minimum lease allowed: 50 years on maturity of the mortgage. 3. Minimum income or profit (before tax) must be £20,000 for main applicant, and the expected rental income must cover the mortgage interest by 1.5 times. 4. DSS or council tenants not allowed. 5. 0.30% discount. 6. Lender charges interest on a daily basis. 7. Applicant must be a current homeowner. 8. Interest calculated daily. 9. Maximum of 3 properties. 10. Capital raising allowed to fund other buy-to-let purchases. 11. Guarantors allowed with prior approval.

 

Lender:Mortgage Express
Tel:0500 111130
Internet:http://www.mortgage-express.co.uk
Email:arla@mortgage-express.co.uk
Arrangement fee:£325.00
Repayment options:Any
Life insurance required:No
Acceptable areas:National coverage.
Notes:1.Minimum valuation allowed: £33,333. 2.Minimum lease allowed: 25 years on maturity of the mortgage. 3.DSS, council or student tenants not allowed. 4.Applicants must have income, outside of rental income of at least £20,000. However, the ability to repay the mortgage is based on the fact that the rental income must be at least 130% of the mortgage payment. 5. Lender offers facility to overpay and then draw down funds as required. 6. Rate charged is linked to Bank of England base rate (currently 4.00%) plus a loading of 1.50%. 7. Lender offers a non-status facility to all applicants at either 50%, 60% or 70% of the property value/price with a loading to the above rate. 8. Letting assessment fee of £60 will be made.

 

Lender:Sainsburys Bank
Tel:0500 700600
Internet:http://www.sainsburys.co.uk
Email: 
Arrangement fee:£250.00
Repayment options:Any
Life insurance required:Yes
Acceptable areas:Fully national
Notes:1. Minimum valuation of any property: £60,000. 2. Minimum lease allowed: 50 years on maturity of mortgage. 3. DSS, council, company or student tenants not considered. 4. Rate is Bank of England base rate (currently 4.00%) plus 1.50%. 5. The lender will use an affordability calculation based on the anticipated rental income. 6. Gross annual rental income must equate to at least 10% of the loan amount. 7. Maximum of 65% for non-UK residents. 8. Maximum of five properties allowed, 30% required for each property purchased. 9. Applicants must own and reside in own property (i.e. no first time buyers). 10. Maximum amount: £350,000 per customer.

 

Lender:Scottish Widows
Tel:0845 8450829
Internet:http://www.scottishwidows.co.uk
Email: 
Arrangement fee:£250.00
Repayment options:Any
Life insurance required:Yes
Acceptable areas:Fully national
Notes:1. Minimum valuation of any property: £37,500. 2. Minimum lease allowed: 30 years on maturity of mortgage. 3. DSS tenants not allowed. 4. Interest is charged on a daily basis, so the scheme is flexible and allows overpayments and draw down of funds. 5. Confirmation to be received that applicant is not solely reliant on rental income; non-property related income must be £15,000 p.a. or more. 6. Monthly rental income should be at least 130% of monthly payments. 7. Minimum age of applicants is 21. 8. Maximum of three properties. 9. Interest only loans up to 70% allowed where residential mortgage already held or is being transferred to Scottish Widows Bank. 10. Bank of England base rate (currently 4.00%) plus 1.50%.

 

Lender:Clydesdale Bank
Tel:0800 419000
Internet:http://www.cbonline.co.uk
Email: 
Arrangement fee:£500.00
Repayment options:Interest only
Life insurance required:No
Acceptable areas:England, Scotland & Wales
Notes:1. Minimum valuation of any property: £12,500. 2. Minimum lease allowed: 6 months. 3. The lender will use an affordability calculation based on the anticipated rental income. 4. Minimum arrangement fee of £100. 5. Maximum of three properties per applicant allowed. 6. Booking fee: £200.

 

Lender:Yorkshire Bank
Tel:0800 202122
Internet:http://www.ybonline.co.uk
Email: 
Arrangement fee:£500.00
Repayment options:Capital and Interest
Life Insurance required:No
Acceptable areas:England & Wales
Notes:1. Minimum valuation of any property: £12,500. 2. Minimum lease allowed: 6 months. 3. The lender will use an affordability calculation based on the anticipated rental income. 4. Minimum arrangement fee of £100. 5. Maximum of three properties per applicant allowed. 6. Booking fee: £100.

 

Lender:Manchester
Tel:0161 833 8885
Internet:http://www.themanchester.co.uk
Email:info@themanchester.co.uk
Arrangement fee:£150.00
Repayment options:Any
Life insurance required:Yes
Acceptable areas:England, Wales
Notes:1. Minimum valuation of any property: £50,000. 2. Minimum lease allowed: 50 years on maturity of mortgage. 3. DSS, council or student tenants are not allowed. 4. Arrangement fee waived if building insurance taken from lender. 5. Building insurance is compulsory in the first three years. If taken from society then arrangement fee is not charged. 6. The mortgage size will be limited to a maximum of six times the annual rental income. 7. Mortgage indemnity is charged on loans above 75%. Call lender for details.

 

Lender:Cheshire
Tel:0345 550555
Internet:http://www.cheshirebs.co.uk
Email: 
Arrangement fee:£295.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England (including Isle of Wight) and Wales
Notes:1. DSS, students, and multiple tenants are not allowed. 2. Maximum of 3 properties. 3. The gross assured monthly rental income is to be at least 125% of the monthly mortgage payments based on Capital and Interest Standard Variable Rate. 4. Applicants must already own and occupy their own property. 5. Applicants’ minimum income must be at least £20,000 (joint £30,000). 6.Applicants’ minimum age is 25. 7. Loans over £250,000 by negotiation with lender. 8. Arrangement fee on loans above £100,000 up to £250,000 is £350 over £250,000 by negotiation. 9. Compulsory buildings insurance will be arranged for 3 years. 10. If property has been converted into individual flats then maximum number of flats is three, minimum loan £30,000 per flat. 11. Free valuation.

 

Lender:Ipswich Building Society *
Tel:01473 213110
Internet:http://www.ipswich-bs.co.uk
Email:enquries@ipswichbuildingsociety.co.uk
Arrangement fee:£195.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England and Wales only
Notes:1. Minimum lease allowed: 30 years on maturity of the mortgage. 2. DSS, council or student tenants not allowed. 3. Monthly rental income must be at least 130% of monthly interest repayment. 4. Free valuation for existing members. 5. Up to 4 properties considered. 6. Properties must not be in multiple occupancy. 7. Letting must be on an unfurnished basis. 8. Lettings must not be to a company or business. 9. Assignment of the rental income is required.

 

Lender:First Trust Bank
Tel:01232 325599
Internet:http://www.firsttrustbank.co.uk
Email: 
Arrangement fee:£295.00
Repayment options:Any
Life insurance required:No
Acceptable areas:Northern Ireland
Notes:1. Scheme is Bank of England base rate (currently 4.00%) plus 1.75%. 2. Maximum term 20 years. 3. Maximum 3 properties per customer. 4. Properties in Northern Ireland only. 5. Income based on 3, 1 or 2.5 joint plus 50% of rental income. 6. Lender charges interest on a daily basis.

 

Lender:Leeds & Holbeck
Tel:0113 225 7777
Internet:http://www.leeds-holbeck.co.uk
Email: 
Arrangement fee:£399.00
Repayment options:Any
Life insurance required:No
Acceptable areas:Fully national
Notes:1. Minimum valuation of any property: £50,000 (£85,000 London postcodes and £70,000 for South East postcodes). 2. Rental income to be 130% of monthly mortgage payment calculated on an interest only basis. 3. Portfolio of three properties allowed. 4. Capital repayments up to 10% allowed each year without penalty.

 

Lender:National Counties
Tel:01372 742211
Internet:http://www.ncbs.co.uk
Email: 
Arrangement fee:£495.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England and Wales and within predominantly residential areas
Notes:1. Minimum valuation of any property: £55,000 for flats/maisonettes and £80,000 for houses/bungalows. 2. Minimum lease allowed; 40 years on maturity of mortgage. 3. DSS, council or student tenants not allowed. 4. The annual rental income must be at least 140% of the gross interest payable at completion. 5. Lender requires the applicant to be conversant with the letting market having appointed a professional letting agent to manage the property. 6. Lender has general flexible attitude and may amend criteria slightly.

 

Lender:Southern Pacific Mortgage Ltd
Tel:020 7590 1500
Internet:http://www.spml.co.uk
Email: 
Arrangement fee:£395.00
Repayment options:Any
Life insurance required:No
Acceptable areas:Fully national
Notes:1. Minimum valuation of any property: £30,000. 2. Minimum lease allowed: 25 years plus mortgage term. 3. DSS, council or student tenants not allowed. 4. Only available via brokers - call the above number for broker in your area. 5. Up to 6 properties per person (maximum total borrowing £1,000,000). 6. Lender uses standard income multiples - in addition lender requires rental income to be 130% of the mortgage repayment. 7. Lender can allow loans of £10,000-£25,000 with loading to rate of 0.70%. 8. Will allow applicants to have had adverse credit history - loan to value and interest rate will be determined by applicant situation. 9. Scheme is LIBOR (currently 4.00%) plus 3.45% for purchase applications, and 3.95% for remortgage applications with a 1.25% discount until 01/03/2003. 10. Mortgage indemnity charged on advances above 70% (at 5%).

 

Lender:Shepshed
Tel:01509 822000
Internet:http://www.theshepshed.co.uk
Email: 
Arrangement fee:£150.00
Repayment options:Any
Life insurance required:No
Acceptable areas:Will only lend in Leicestershire and east Midlands area
Notes:1. Minimum valuation of any property: please contact lender to discuss. 2. No leasehold properties allowed. 3. DSS, council or student tenants allowed. 4. Lender has no specific rules regarding rental income and mortgage repayment ratio. 5. Remortgage allowed: minimum loan allowed £25,001. 6. Rate is standard variable plus 0.50%.

 

Lender:Kensington Mortgage Co.
Tel:020 7376 0110
Internet:http://www.kmc.co.uk
Email: 
Arrangement fee:£395.00
Repayment options:Any
Life insurance required:No
Acceptable areas:Scotland, England and Wales only
Notes:1.Minimum valuation of any property: £33,000. 2.Minimum lease allowed: 25 years on maturity of mortgage. 3. CCJs maximum £5,000 (cleared or not). 4. Rate is lenders standard variable plus 2.50% or (remortgage at plus 3.00%) with a 1.25% discount until 01/01/2003. 5. DSS, council or student tenants not allowed. 6. Maximum of 6 loans allowed, to a total borrowing of £750,000. 7. Gross rental income must be 130% of the mortgage payment. 8. Higher rate for remortgage applicants. 9. Secured loan/rent arrears, 1 payment lasts 0-6 months, 3 payments last 7-12 months. 10. Involuntary arrangements satisfied at completion. 11. Bankruptcy discharged 1 year before application. 12. If applicants have situation in excess of 3 above lender will consider at a higher rate.

75 per cent LTV

Lender:Northern Rock
Tel:0845 6050500
Internet: 
Email: 
Arrangement fee:£495.00
Repayment options:Capital and Interest
Life insurance required:No
Acceptable areas:England, Wales and Scotland allowed
Notes:1.Minimum valuation of any property: £40,000. 2. Up to 4 properties per person. 3. Total exposure £1million. 4. Rental income must exceed 100% of mortgage repayments. 5. Minimum income must be £25,000 for main applicant. 6. Borrower must have an Assured Shorthold Tenancy Agreement. 7 Maximum number of Applicants: 4. 8. Minimum age: 21. 9. Capital repayments up to 15% allowed each year without penalty.

 

Lender:Sun Bank
Tel:01438 744555
Internet:http://www.sunbank.co.uk
Arrangement fee:£400.00
Repayment options:Any
Life insurance required:Yes
Acceptable areas:National coverage, although will usually limit to metropolitan areas
Notes:1. Minimum valuation: £75,000. 2. Minimum lease allowed: 35 years on maturity of mortgage. 3. 0.80% arrangement fee, minimum £500. 4. Any number of properties, maximum loan limit £1million. 5. Gross rent must be at least 125% of interest payments. 6. DSS, council or student tenants not allowed. 7. Curriculum Vitae and net worth statement required on all applicants. 8. Property must be subject to an assured tenancy agreement. 9. Lender requires all properties to be managed by professional letting agents. 10. Capital repayments up to 10% allowed each year without penalty. 11. 1.50% discount.

 

Lender:Leek United
Tel:01538 392419
Internet:http://www.leek-united.co.uk
Email: 
Arrangement fee:£150.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England and Wales
Notes:1. Minimum valuation of any property: £33,333. 2. No DSS, student lets or studio flats. 3. Rental income to be at least 130% more than the mortgage interest commitment. 4. Gross rental yield to be at least 7%. 5. Lender uses affordability scale incorporating income multiples and property rental. 6. Can accommodate small portfolios of properties. 7. Society will not accept converted houses/flats. 8. 1% discount. 9. Loyalty bonus applies after 5 years (currently 0.25%). 10. Property to be let on Assured Shorthold Tenancy.

 

Lender:Universal
Tel:0191 232 0973
Internet:http://www.theuniversal.co.uk
Email: 
Arrangement fee:£395.00
Repayment options:Any
Life Insurance required:Yes
Acceptable areas:North East England only
Notes:1. Minimum valuation of any property: £40,000. 2. Minimum lease allowed, 35 years on maturity of mortgage. 3. DSS or student tenants are not considered. 4. The lender will use an affordability calculation based on the anticipated rental income. 5.1% discount. 6. Maximum of 5 properties allowed.

 

Lender:Mercantile
Tel:0191 295 9500
Internet: 
Email:enquiries@mercantile-bs.co.uk
Arrangement fee:£295.00
Repayment options:Any
Life insurance required:No
Acceptable areas:Fully national
Notes:1. Mortgage secured on properties purchased and let on an Assured Shorthold Tenancy. 2. To qualify a minimum of three properties is required. 3. 1% discount.

 

Lender:Woolwich Direct
Tel:0645 757575
Internet: 
Email: 
Arrangement fee:£350.00
Repayment options:Any
Life insurance required:No
Acceptable areas:Fully national
Notes:1. Minimum lease allowed: 50 years on maturity of mortgage. 2. DSS, council, company or student tenants not considered. 3. The lender will use an affordability calculation based on the anticipated rental income. 4. Gross annual rental income must cover the annual mortgage interest payment by at least 125%. 5. Maximum of 65% for non-UK residents. 6. Base rate tracker (currently 4.00%) plus 1.20%.

 

Lender:Bank of Ireland
Tel:0118 968 4300
Internet:http://www.bank-of-ireland.co.uk
Email: 
Arrangement fee:Nil
Repayment options:Any
Life insurance required:No
Acceptable areas:England and Wales only
Notes:1. Minimum valuation of any property: £33,333. 2. Minimum lease allowed: call lender to discuss. 3. DSS, council or student tenants not allowed. 4. A maximum of five properties in a portfolio will be allowed. The maximum total lending will be £500,000. 5. The lender calculates the monthly repayment based on 9% and requires the rental income to be 140% of the figure. 6. Minimum age of applicant is 25 and minimum income (outside of rental income) is £15,000. 7. Scheme is Bank of England base rate (currently 4.00%) plus 1.25% until 01/01/2005 then plus 1.75%.

 

Lender:Furness
Tel:0800 834312
Internet:http://www.furness-bs.co.uk
Email:call.centre@furness.co.uk
Arrangement fee:£100.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England & Wales
Notes:1. Maximum term: 25 years. 2. Open to UK residents. 3. Borrower must appoint a professional managing agent for the letting. 4. Employed, self-employed and retired borrowers will be considered. 5. 75% of rental income must be sufficient to cover the mortgage payment (not just the interest) at the full rate. 6. Applications cannot be considered where the sole income is derived from rental income. 7. Properties with more than 1 kitchen or more than 5 bedrooms per letting unit will not be accepted. 8. All flats/maisonettes must be purpose built and self-contained, bedsits not acceptable. 9. Diplomatic, student, housing association and council lets are not considered except where tenant is a limited company. 10. Maximum number of properties: 15.

 

 

Lender:Monmouthshire
Tel:01633 840454
Internet: 
Email: 
Arrangement fee:£250.00
Repayment options:Any
Life insurance required:No
Acceptable areas:Wales
Notes:1. Minimum age: 25. 2. No first time buyers. 3. No auction properties or holiday homes. 4. Gross rental must exceed mortgage payment by 30%. 5. Free mortgage payment protection insurance for 6 months, subject to eligibility. 6. Assured Shorthold Tenancy Agreements only.

 

Lender:Stroud & Swindon
Tel:0800 616112
Internet:http://www.stroudandswindon.co.uk
Email: 
Arrangement fee:£295.00
Repayment options:Any
Life insurance required:No
Acceptable areas:Fully national.
Notes:1. Minimum valuation of any property: £43,000. 2. Minimum lease allowed: 50 years on maturity of mortgage. 3. DSS, council or student tenants not allowed. 4. Ability to make overpayments and then draw on overpayments at a later stage. 5. The lender will use income multiples, less existing commitments plus 140% of annual rent at 9% to determine maximum borrowings. 6. 0.75% discount. 7. Maximum loan of £250,000 per property. Total maximum borrowing allowed of £500,000 over a portfolio of three properties. 8. Fees free remortgage available includes free valuation and legal fees paid if lender's solicitor is used.

 

Lender:Bank of Scotland
Tel:0800 810810
Internet: 
Email: 
Arrangement fee:£250.00
Repayment options:Any
Life insurance required:No
Acceptable areas: 
Notes:1. Scheme is Bank of England base rate (currently 4.00%) plus 1.75%. 2. Minimum valuation of any property: £50,000. 3. Maximum of five properties per applicant allowed. 4. It is a condition that the applicant’s residential mortgage will be held with the bank. 5. Lender will allow up to 5 times the rental income to be taken into account when assessing the loan amount. 6. Available on these terms to customers based in Scotland only. 7. DSS, Council or student tenants not allowed. 8. Call the above number for details if property is elsewhere in UK. 9. Minimum arrangement fee: £500.

 

Lender:Melton Mowbray
Tel:01664 480214
Internet: 
Email:melton@mmbs.co.uk
Arrangement fee:£80.00
Repayment options:Capital and interest
Life insurance required: 
Acceptable areas:50 mile radius of Society’s principal office
Notes:1. Available on properties within 50 miles of Society's principal office. 2. Maximum of 5 properties per borrower. 3. Maximum total borrowing of £500,000. 4. Multi-occupancy properties are not acceptable. 5. Rental income must cover mortgage payments by a minimum of 130%. 6. An assured shorthold tenancy for minimum 6 months and maximum of 12 months required.

 

Lender:Buckinghamshire
Tel:01494 873064
Internet: 
Email: 
Arrangement fee:£250.00
Repayment options:Any
Life insurance required:No
Acceptable areas: 
Notes:1. Arrangement fee is negotiable: £250 minimum, £500 maximum. 2. No compulsory insurance's. 3. Maximum term is 25 years. 4. Purchase or remortgage of residential property that are let subject to an assured Shorthold Tenancy Agreement. 5. Capital repayments up to 10% allowed each year without penalty. 6. 80% loan to value if advance supported by personal income in addition to rental income.

 

Lender:Dunfermline
Tel:01383 627727
Internet:http://www.dunfermline-bs.co.uk
Email:comments@dunferline-bs.co.uk
Arrangement fee:£395.00
Repayment options:Any
Life insurance required:No
Acceptable areas:Scotland only
Notes:1. Minimum valuation of any property: £40,000 2. Minimum lease allowed: 30 years on maturity of mortgage. 3. DSS, council or student tenants not allowed. 4. Lender has no set criteria - will accept/decline each application on its own merits. 5. Maximum term is 20 years. 6. Maximum 2 properties in addition to main residence.

 

Lender:Harpenden
Tel:01582 765411
Internet:http://www.harpendenbs.co.uk
Email:enquiries@harpendenbs.co.uk
Arrangement fee:£200.00
Repayment options:Any
Life insurance required:Yes
Acceptable areas:England only
Notes:1. Minimum valuation of any property: £50,000. 2. DSS, council or student tenants are considered. 3. The lender will use an affordability calculation based on the anticipated rental income.

 

Lender:Loughborough *
Tel:01509 610600
Internet:http://www.theloughborough.co.uk
Email: 
Arrangement fee:£250.00
Repayment options:Any
Life insurance required:No
Acceptable areas:East Midlands only
Notes:1. Minimum valuation of any property: £6,500. 2. Portfolio lending allowed. 3. Rental income expected/received must exceed mortgage payment. 4. Rate charged is lenders standard variable mortgage rate (currently 5.60%) plus a loading of 0.50%.

 

Lender:Saffron Walden *
Tel:01799 522211
Internet:http://www.swhebs.co.uk
Email: 
Arrangement fee:£50.00
Repayment options:Any
Life insurance required:Yes
Acceptable areas:Bedfordshire, Cambridgeshire, Essex, Hertfordshire, London and Suffolk
Notes:1. Minimum valuation of any property: £13,350. 2. Minimum lease allowed: 50 years on maturity of mortgage. 3. Minimum loan for a remortgage is £15,100. 4. DSS, council or student tenants not allowed. 5. Minimum arrangement fee: £100. Lender also charges a completion fee of up to 1.5%. 6. Curriculum Vitae and net worth statement required on all applicants. 7. Rental income must exceed mortgage payments by 75%. 8. Rate is standard variable plus 1.00%.

 

Lender:Hinckley & Rugby *
Tel:01455 251234
Internet:http://www.hrbs.co.uk
Email: 
Arrangement fee:Nil
Repayment options:Any
Life insurance required:Yes
Acceptable areas:East Midlands only.
Notes:1.Minimum valuation of any property: £30,000. 2.Minimum lease allowed: 75 years at outset of mortgage. 3.DSS, council or student tenants not allowed. 4. Rental income, less 32.5% must cover the mortgage interest each month. 5. Properties of four stories or more are excluded. 6. Rate charged is lenders standard variable mortgage rate (currently 5.64%) plus a loading of between 1%-2%.

 

Lender:Bath Building Society
Tel:01225 423271
Internet:http://www.bibs.co.uk
Email:bsoc@bibs.co.uk
Arrangement fee:Nil
Repayment options:Any
Life insurance required:No
Acceptable areas:Will lend only within 50 mile radius of Bath
Notes:1. Minimum valuation of any property: £40,000. 2. Minimum lease allowed: call lender. 3. DSS or council tenants not allowed. 4. Evidence of income required by a recognised letting agent (ARLA) and must equate to an interest rate of 15%. 5. Rate is lenders standard variable mortgage rate plus a loading of 1%.

 

Lender:Yellow Brick Road
Tel:0800 009977
Internet: 
Email: 
Arrangement fee:£495.00
Repayment options:Any
Life insurance required:No
Acceptable areas: 
Notes:1. Will not lend in Scotland or Northern Ireland. 2. Rate charged is dependent on applicant’s personal circumstances and is based on the LIBOR (see glossary for definition) plus between 3.25% and 5.75%. The applicant’s circumstances will also impact on the maximum loan size and the maximum percentage loan (in relation to purchase price or valuation) that is available. 4. Up to 3 months mortgage or rent arrears, no more than 1 month at application. 5. All CCJs count within 3 years of application unless satisfied over 12 months ago. 6. For loans over £200,000 an additional rate of 0.5% will apply. 7. For self-certified loans an additional rate of 0.5% will apply. 8. For remortgages an additional rate of 0.5% will apply. 9. Self-certified remorgtage up to 70% LTV and 75% for purchase. 

70 per cent LTV

Lender:Nat West
Tel:0345 023845
Internet:http://www.natwest.co.uk
Email:nwmsbtl@natwest.com
Arrangement fee:£200.00
Repayment options:Capital and interest
Life insurance required:Yes
Acceptable areas:National coverage
Notes:1.Minimum valuation of any property: £2,0000. 2.Minimum lease allowed: 35 years on maturity of mortgage. 3. Maximum of four properties per applicant. 4. DSS, council or student tenants not allowed. 5. Lender uses standard income multiples of 3 times main income, plus one times the rental income less commitments. Also rental income must be 130% of mortgage payment. 6.Minimum joint income required of £20,000. 7. 1.70% discount.

 

Lender:Chorley & District
Tel:01257 419110
Internet: 
Email:mortgages@chorleybs.co.uk
Arrangement fee:£195.00
Repayment options:Any
Life insurance required:No
Acceptable areas: 
Notes:1. These criteria apply to rental properties within Lancashire. 2. Properties outside Lancashire will be considered on an individual basis. 3. Rental income must exceed 120% of mortgage repayments. 4. Full status only. 5. Six month Shorthold Tenancy Agreement is mandatory, maximum term for same is 12 months. 6. Housing Associations or companies cannot be parties to the tenancy agreement. 7. Multiple Tenancy Agreements are not acceptable on one property. 8. DSS, council or student tenants not allowed nor properties divided into bedsits.

 60 per cent LTV

Lender:Market Harborough
Tel:01858 463244
Internet:http://www.mhbs.co.uk
Email:CustomersFirst@mhbs.co.uk
Arrangement fee:£295.00
Repayment options:Any
Life insurance required:Yes
Acceptable areas:England, Scotland and Wales
Notes:1.Minimum valuation of any property: £40,000. 2. Minimum lease allowed: 50 years on maturity of mortgage. 3. Lender charges additional £50 booking fee. 4. DSS, council or student tenants not allowed. 5.1% discount. 6. Maximum of three properties allowed. 7. Capital repayments up to 10% allowed each year without penalty. 8. Six month Assured Shorthold Tenancy Agreements only.

50 per cent LTV

Lender:Standard Life Bank
Tel:0845 6090262
Internet: 
Email: 
Arrangement fee:£350.00
Repayment options:Any
Life insurance required:No
Acceptable areas:England, Scotland, Wales and Northern Ireland
Notes:1. Minimum age of applicant: 25 years, maximum age: 60 years. 2. Minimum Employment income: £20,000 single or £30,000 joint excluding rental income. 3. Maximum total loans: £500,000 (maximum £400,000 for a single property). 4. Up to 5 rental properties. 5. Overpayments allowed (£1,000 minimum lump sums). 6. Up to 2 payment holidays allowed per year per property. 7. Lender charges interest on a daily basis. 8. Annual rental income must equal at least 10% of the loan amount. 9. 1% discount.
  • List Of property web sites

The list of web sites below enables you to search for properties in the area you are interested in. All these sites direct you ultimately to the estate agent that is selling the property. There are also rental sites included in this list so you can keep abreast of the current market rental values of properties you have or are currently interested in.

I personally use rightmove.co.uk, ukpropertyshop.com and home.co.uk to find my properties. These sites seem professionally run and have a large database of properties for sale.

I would suggest you search for properties listed in the hotspots detailed in part ix) of this chapter.

Sales & rental web sites
  1. www.rightmove.co.uk
  2. www.asserta.co.uk
  3. www.08004homes.com
  4. www.home.co.uk
  5. www.accommodation.com
  6. www.national-property-register.co.uk
  7. www.themovechannel.com
  8. www.accommodation-directory.co.uk
  9. www.fish4homes.co.uk
  10. www.homesdujour.com
  11. www.housedeals.co.uk
  12. www.propertyfinder.co.uk
  13. www.mondial-property.co.uk
  14. www.numberone4property.co.uk
  15. www.primelocation.com
  16. www.propertyads-online.com
  17. www.propertyfile.co.uk
  18. www.propertylive.co.uk
  19. www.saleourproperty.com
  20. www.ukpg.co.uk
  21. www.ukpropertyguide.co.uk
  22. www.underoneroof.com
  23. www.wheretolive.co.uk
  24. www.froglet.com
  25. www.move.co.uk
  26. www.halfapercent.com
  27. www.p4L.co.uk
  28. www.londonpropertyguide.co.uk
  29. www.cdproperty.co.uk
  30. www.propertydirect.co.uk
  31. www.rentalsandsales.co.uk
  32. www.estates-directory.co.uk
  33. www.ukhomesguide.co.uk
  34. www.accommodatingcompany.co.uk
  35. www.home-sale.co.uk
  36. www.housesearchuk.co.uk
  37. www.lookproperty.co.uk
  38. www.ukhousesales.co.uk
  39. www.londonshome.co.uk
  40. www.propertymatters.co.uk
  41. www.bainprop.co.uk
  42. www.haylingproperty.co.uk
  43. www.foxtons.co.uk
  44. www.shobrook.co.uk
  45. www.palmsagency.co.uk
  46. www.jtrproperty.co.uk
  47. www.coppingjoyce.co.uk
  48. www.milburys.co.uk
  49. www.davisestates.co.uk
  50. www.stonegateestates.co.uk
  51. www.forgetestateagents.co.uk
  52. www.nicholasirwin.co.uk
  53. www.ashtons.co.uk
  54. www.claridges-estates.co.uk
  55. www.pfivales.co.uk
  56. www.bansale.estates.co.uk
  1. www.dauntons.co.uk
  2. www.stratfordproperty.co.uk
Sales only web sites
  1. www.propertyworld.co.uk
  2. www.smartestates.com
  3. www.stoptolook.co.uk
  4. www.uk-property-sale-directory.co.uk
  5. www.daltons.co.uk
  6. www.homehunter.co.uk
  7. www.homepages.co.uk
  8. www.homes-uk.co.uk/hfs_home_uke.html
  9. www.homeselluk.com
  10. www.hotproperty.co.uk
  11. www.house-directory.co.uk
  12. www.thehousehunter.co.uk/default.asp
  13. www.housenet.co.uk
  14. www.houseweb.co.uk
  15. www.thelondonoffice.co.uk
  16. www.newhomesnetwork.co.uk
  17. www.properties-direct.com
  18. www.reale-state.co.uk
  19. www.smartnewhomes.com
  20. www.uk-property.com
  21. www.ukpropertysales.net
  22. www.wwpc.uk.com
  23. www.your-move.co.uk
  24. www.fairview.co.uk
  25. www.assertahome.com
  26. www.ukpropertyshop.co.uk
  27. www.partake.co.uk
  28. www.property-sight.co.uk
  29. www.prestigeproperty.co.uk
  30. www.tspc.co.uk
  31. www.homesalez.com
  32. www.hotproperties2000.co.uk
  33. www.your-life.co.uk
  34. www.agentfreesales.co.uk
  35. www.propertysales.co.uk
  36. www.globalmart.co.uk
  37. www.propertyfinderwales.co.uk
  38. www.paramount-properties.co.uk
  39. www.estate-agent-property.co.uk
  40. www.webhouses.co.uk
  41. www.property-go.co.uk
  42. www.capital-residence.co.uk
  43. www.michaeltucker.co.uk
  44. www.toplondonproperties.co.uk
  45. www.carltons-dundee.co.uk
  46. www.howards.co.uk
  47. www.owner-property-sales.co.uk
  48. www.property4uk.co.uk
  49. www.smithvalentine.demon.co.uk
  50. www.jparissteele.co.uk
  51. www.villagategroup.com
  52. www.wisemove.co.uk
  53. www.dmea.co.uk
  54. www.gatehouseestates.co.uk
  55. www.andrewpontin.co.uk
  56. www.walsall-estates.co.uk
  57. www.stewartwatson.co.uk
  58. www.newey.co.uk
  59. www.hamiltonbrooks.co.uk
  60. www.bennettjones.co.uk
  61. www.pro-net.co.uk
  62. www.lakewood-properties.co.uk
  63. www.pickitts.co.uk
  1. www.housemarket.co.uk
Rentals only
  1. www.homelet.co.uk
  2. www.rent.co.uk
  3. www.simprent.u-net.com
  4. www.citylet.com
  5. www.letonthenet.com
  6. www.letsrentuk.com
  7. www.lettingweb.com
  8. www.simplyrent.co.uk
  9. www.spacetorent.com
  10. www.studenthousehunt.com
  11. www.studentpad.co.uk
  12. www.palacegate.co.uk
  13. www.excel-property.co.uk
  14. www.assuredproprentals.co.uk
  15. www.cambridge-rentals.co.uk
  16. www.propertyrentals.co.uk
  17. www.faulknerproperty.co.uk
  18. www.flemingpropertyrentals.co.uk
  19. www.enaparkinsonpropertyrentals.co.uk
  20. www.the-net.co.uk
  21. www.mossoak.co.uk
  22. www.torent.co.uk
  23. www.net-lettings.co.uk
  24. www.property-go.co.uk
  25. www.sunkissed.co.uk
  26. www.letters.co.uk
  1. iv) Mortgage brokers

A local mortgage broker can be found quite easily through the Yellow Pages or www.yell.com. I would suggest you go for a buy-to-let specialist mortgage broker. These can be found from the following web sites – you have to specify buy-to-let specialist when searching:
www.searchIFA.co.uk
Unit 9, Alpha Business, Travellers Close, Hatfield, AL9 7NT
Tel: (01707) 251111

www.ifap.org.uk & www.unbiased.co.uk

IFA Promotion Ltd, 2nd Floor, 117 Farringdon Rd, London, EC1R 3BX

Tel: (0800) 085 3250

www.ifawindow.co.uk

Web based only

v) List of accommodation projects

Accommodation projects can find tenants, guarantee and collect the rent and liase with the tenants on your behalf. Basically they can act like an agent for you but the great thing is that they provide their service for FREE! The reason they can provide this service for free is because they are non-profit organisations or charities. I would suggest you donate every now and again if you do decide to use an accommodation project.

England
1Accommodation Bonds for Cornwall, Stonham Housing with Care, PO Box 113, Redruth, Cornwall TR15 2YP01209 216166
2Accommodation Concern, 15/17 London Road, Kettering, Northamptonshire NN16 0EF01536 416560
3Accommodation DGS (Cumbria) Ltd., 2 Gladstone Street, Workinton, Cumbria CA14 2YE01900 873220
4Alone In London Magnet Project, 188 Kings Cross Road, London WC1X 9DE0207 278 4224
5Ashford Borough Council, Civic Centre, Tannery Lane, Ashford, Kent TN23 1PL01233 330423
6Banbury Homes Rent Deposit Scheme, 1 Mawle House, George Street, Banbury, Oxfordshire OX16 5BH01295 265439
7Barnet Housing Aid Centre Rent Deposit Scheme, 36B Woodhouse Road, North Finchley, London N12 0RG0208 446 2504
8Basildon Community Resource Centre, 1 The Gore, Basildon, Essex SS14 2EA01268 450040/1
9Bedfordshire Housing Aid Centre, 68 Tavistock Street, Bedford, Bedfordshire MK40 2RG01234 328488
10Birmingham Bond Scheme Ltd, 44 Bradford Street, Birmingham B5 6HX0121 687 6402
11Bolton Bond Board, 5 Great Moor Street, Bolton, Lancashire BL1 1NZ01204 366328
12Boston Accommodation Bureau, 14-16 High Street, Lincolnshire PE21 8SH01205 359664
13Bournemouth Churches Housing Association Rent Deposit Scheme, St. Swithun’s House, 21 Christchurch Road, Bournemouth, Dorset BH1 3NS01202 410500
14Brent Council Rent Deposit Guarantee Scheme, Private Housing Information Unit, Quality House, 249 Willesden Lane, Willesden, London NW2 5JH0208 937 2775
15Brentwood Housing Trust, The Lodge, 28 St. Thomas Road, Brentwood, Essex CM14 4DB01277 225084
16Bridge Housing Association, 33-35 James Town Road, Camden, London NW1 7BD0207 267 0070
17Bristol Deposit Bond Scheme, The Hub, 13/17 Cumberland Street, Bristol BS2 8NL0117 922 4829
18CAN Homeless Action Team, The Maple Centre, PO Box 5164, 37 Ash Street, Northampton NN1 3ZP01604 250678
19Cannock Chase Churches Housing Coalition, Housing & Health Advice Centre, 29-31 Park Road, Cannock, Staffordshire WS11 1JN01543 577572
20Charnwood Shelter Project, The Annex, Southfield Road, Loughborough, Leicestershire LE11 2TS01509 260500
21Chelmsford Borough Council, Housing Advice & Welfare Rights, Civic Centre, Coral Lane, Chelmsford, Essex CM1 1JE01245 606469
22Cheltenham Bond Scheme, Cheltenham Housing Aid Centre, 31 Prestbury Road, Cheltenham, Gloucestershire GL52 2PP01242 226672
23Chesterfield Borough Council Deposit Guarantee Scheme, Town Hall, Rose Hill, Chesterfield, Derbyshire S40 1LP01246 345143
24Christian Action & Resource Enterprise, 257-259 Freeman Street, Grimsby, North East Lincolnshire DN32 9DW01472 232311
25Churches Action Together, 191 Park View, Whitley Bay, Northumberland NE26 3 RD0191 251 4014
26Churches Housing Action Team, The Old Bakery, 44 West Exe South, Tiverton, Devon EX16 5DH01884 255606
27Churches National Housing Coalition, Central Buildings, Oldham Street, 2Manchester M1 1JT0161 236 9321
28City Centre Project, YMCA Building, Trinity Road, Off Little Horton Lane, Bradford, West Yorkshire BD5 0JG01274 736507
29Colchester Borough Council, Housing Advice, PO Box 887, Town Hall, Colchester, Essex CO1 1ZG01206 282527
30Coventry Bond Scheme, Simon House, Bird Street, Coventry, Warwickshire CV1 5FX024 7622 8099
31Craven Housing Scheme, 28 Victoria Street, Skipton, North Yorkshire BD23 1JE01756 701110
32Croydon Churches Housing Association Ltd, Rent in Advance Scheme, 92 Church Road, Croydon, Surrey CR0 1SD0208 662 8661
33Croydon Home Bond, Look Ahead Housing and Care, 282-284 Brigstock Road, Thornton Heath, Surrey CR7 7JE0208 665 9125
34Dacorum Borough Council, HAC, 138 Marlowes, Hemel Hempstead, Hertfordshire HP1 1EZ01442 228915
35Dacorum Rent Aid, 7a Marlowes, Hemel Hempstead, Hertfordshire HP1 1LA01442 251213
36Darlington Bond & Rent Guarantee Scheme, Grange Road Baptist Church, Grange Road, Darlington, Co Durham DL1 5NH01325 467617
37Derby Bond Bank Scheme, Housing Options Centre, Derby City Council, Derwent Street, Derby DE1 2ED01332 716492
38Detached Youth Work Project, 50 Piccadilly, York, North Yorkshire YO1 9NX01904 651431
39Dudley MBC Guaranteed Rent Deposit Scheme (Stourbridge District), 17 St. James Road, Private Sector Housing, Dudley, west Midlands DY1 1JG01384 815070
40East Manchester Bond Board, 3-5 West Street, Clayton, Manchester M11 4EF0161 239 8879
41Elmbridge Rent Start, 2 Onslow Road, Walton-on-Thames, Surrey KT12 5BB01932 248729
42Epson & Ewell Borough Council, Community Housing Project, Town Hall, The Parade, Epsom, Surrey KT18 5BY01372 732437
43Equity Trust Fund, 222 Africa House, 64 Kingsway, London WC2B 6BD0207 404 6041
44Face-To-Face, 14 St David’s Road South, St Anne’s on Sea, Lytham St Anne’s, Lancashire FY8 1TB01253 720270
45Fareport Fund-A-Home, X=Perience, Trinity Street, Fareham, Hampshire PO16 7SJ01329 230234
46Foundation Housing, Waterloo House, 58 Wellington Street, Leeds, West Yorkshire LS1 2EE0113 242 1511
47Greater Manchester RDS (Rochdale), Grants & Enforcements Department, 4th Floor, Municipal Buildings, Smith Street, Rochdale, Lancashire OL16 1LX01706 866621
48Greenwich Deposit Guarantee Scheme, London Borough of Greenwich, Housing Aid Centre, 125 Powis Street, London SE18 6NL0208 921 2857
49Guaranteed Accommodation Payments Scheme, YMCA, Peartree Lane, Welvyn Garden City, Hertfordshire AL7 3UL01707 351219
50Harlow Accommodation Project, 2 Wych Elm, Harlow, Essex CM20 1QP01279 861186
51Hastings & Rother Bond Board, 49 Cambridge Gardens, Hastings, East Sussex TN34 1EN01424 721775
52Help The Homeless (Chorley), 45 Clifford Street, Stump Lane, Lancashire PR7 1SE01257 273320
53Herefordshire Council Deposit Guarantee Scheme, Housing Service Division, Garrick House, Widemarsh Street, Hereford HR4 9EU01432 261580
54HMP The Mount, 1 Molyneaux Avenue, Bovington, Hertfordshire HP3 0NZ01442 834363
55Homeless in Oswestry Action Group, Centre North West, Oak Street, Oswestry, Shropshire SY11 1LW01691 650850
56Homelink, The Garrett Centre, 45/47 Blythe Street, London E2 6LN0207 729 7573
57Honourary Treasurer, Newholm, Swanmore Road, Southampton, Hampshire SO32 2QH01489 896549
58Housing Young People in Shrewsbury, Roy Fletcher Centre, 12-17 Cross Hill, Shrewsbury, Shropshire SY1 1JE01743 341900
59Huntingdonshire District Council Rent Deposit Scheme, Pathfinder House, St Mary’s Street, Huntingdon, Cambridgeshire PE18 6TN01480 388224
60Isle of Wight Deposit Guarantee Scheme, Exchange House, St Cross lane, Newport, Isle of Wight PO30 5BZ01983 524715
61Key House Project, 20 Low Street, Keighley, West Yorkshire BD21 3PN01535 600890
62Kingston Churches Action on Homelessness, The Access Project, 36A Fife Road, Kingston Upon Thames, Surrey KT1 1SU0208 255 2438
63Kirklees Bond Bank, 1st Floor, Standard House, Half Moon Street, Huddersfield, West Yorkshire HD1 2JF01484 223926
64Lancashire Housing Aid Centre, 35a-c North Albert Street, Fleetwood, Lancashire FY7 6AJ01253 874567
65Leicester City Council, Housing Advice Centre, Alliance House, 6 Bishop Street, Leicester LE1 6AF0116 254 9922
66Lewes District Churches Homelink, 208 High Street, School Hill, Lewes, East Sussex BN7 2NS01273 479541
67Lifeshare Resettlement Service, 23 New Mount Street, Manchester M4 4DE0161 953 4069
68Littlehampton Churches Together Homelink, Room 1, Arcade Chambers, 86 High Street, Littlehampton, West Sussex BN17 5DX01903 739669
82London Borough Barnet Private Sector Tenancy Scheme, 1st Floor, Barnet House, 1255 High Road, London N20 0EJ0208 359 4863
83London Borough Sutton Housing Centre, Civic Offices, St Nicholas Way, Sutton, Surrey SM1 1EA0208 770 5788
84Malvern Hills District Council, Housing Recreation & Community Services, Highlea, 36 Church Street, Malvern, Worcestershire WR14 2AZ01684 862181
85Mendip District Council Rent Guarantee Scheme, YMCA, The Old Glasshouse, South Street, Wells, Somerset BA5 1SL01749 670761
86NACRO Resettlement Services, C-Wing HMP Wormwood Scrubs, PO Box 757, Ducane Road, London W12 0AE0208 743 0311 x725
87Navigator- Project 2041, Chilton House, The Greenway, Uxbridge, Middlesex UB8 2PJ01895 235576
88Newark & Sherwood District Council, Kelham Hall, Kelham, Newark, Nottinghamshire NG23 5QX01636 650000
89No 5 Youth Counselling Centre, DIGS 2-4 Sackville Street, reading, Berkshire RG1 1NT0118 901 5653
90Norman House, 15 Aberdeen park, Highbury, London N5 2AN0207 704 2857
91North Herts Homeless Development Team, Footings/Deposit Guarantee Scheme, 25 Sun Street, Hitchin, Hertfordshire SG5 1AH01462 435668
69North Manchester Bond Scheme, c/o Family Housing Association, 204-206 Lightbourne Road, Moston, Manchester M40 5EE0161 682 0600
70North Wilts District Council Rent Deposit Guarantee Scheme, Bewley House, Marshfield Road, Chippenham, Wiltshire SN15 1JN01249 706307
71Northampton Borough Council, Housing & Money Advice Centre, Fish Street, Northampton NN1 2AA01604 238740
72Nugent Care Society, 150 Brownlow Hill, Liverpool L3 5RF0151 708 0566
73Oldham Independent Housing Aid Centre, 5 Ashcroft Court, Peter Street, Oldham, Lancashire OL1 1HP0161 624 0674
74Open Door Rent Deposit Guarantee Scheme, Shelter Housing Aid Centre, The Food Centre, 793 Avebury Boulevard, Central Milton Keynes, Bedfordshire MK9 3NW01908 395252
75Oxford Citizens Housing Association Deposit Guarantee Scheme, 244 Barns Road, Oxford OK4 3RW01865 773000
76Plymouth Access To Housing, The Harwell Centre, 28-42 Harwell Court, Western Approach, Plymouth, Devon PL1 1PY01752 223823
77Preston YMCA, Samuel Street, Preston, Lancashire PR1 4YE01772 794103
78Reading Borough Council Rent Deposit Scheme, Housing Advice Centre, Civic Centre, Reading, Berkshire RG1 7TD0118 939 0089
92Reigate & Redhill YMCA Rent Deposit Scheme, 1st Floor, 3 London Road, Redhill, Surrey RH1 1LY01737 773089
93Robond Ltd, The Guardian Centre, Drummond Street, Rotherham, South Yorkshire S65 1HY01709 828791
94Runnymede Rentstart, 12-13 The Sainsbury Centre, Chertsey, Surrey KT16 9AG01932 567621 (01344 842316 temporarily)
95Ryedale Bond Guarantee Scheme, Ryedale House, Old Malton, Malton, North Yorkshire YO17 0HH01653 600666
96Sarsen Housing association, Kennet District Council, Browfort, Bath Road, Devizes, Wiltshire SN10 2AT01380 724911
97Sevenoaks District Council Private Letting Scheme, Community Services, PO Box 1182, Argyle Road, Sevenoaks, Kent TN13 1GP01732 227000
98Shrewsbury Homes for All, Roy Fletcher Centre, 12-17 Cross Hill, Shrewsbury, Shropshire SY1 1JE01743 231415
99SmartMove (Action on Homelessness W Wilts), 12-13 Duke Street, Trowbridge, Wiltshire BA14 8EA01225 776606
100SmartMove (Barnsley), English Churches Housing Group, Holden House, 2 Race Street, Barnsley, South Yorkshire S70 1 BY01226 785893
101SmartMove (Calderdale), 1st Floor, Bull Green House, Bull Green, Halifax, West Yorkshire HX1 2EB01422 361515
79SmartMove (CRISIS), 1st Floor, Challenger House, 42 Adler House, London E1 1EE0207 655 8300
80SmartMove (Exeter Homeless Action Group), 16 Bartholomew Street East, Exeter, Devon EX4 3BG01392 430228
81SmartMove (Great Yarmouth), Bauleah House, 51 St Nicholas Road, Great Yarmouth, Norfolk NR30 1NR01493 331586
102SmartMove (Grenfell Housing Assoc), Justin Plaza 3, 341 London Road, Mitcham, Surrey CR4 4BG0208 687 0157
103SmartMove (Hartlepool), c/o CAB, Bank House, 18 Victoria Road, Hartlepool, Co Durham TS26 8DD01429 277030
104SmartMove (Hull Hostel Forum), Room 9, Hull YPI, 83-93 George Street, Hull HU1 3BN01482 620360
105SmartMove (M25), c/o Open House, 4 Union Street, Doncaster, South Yorkshire DN1 3AE01302 369360
106SmartMove (NOMAD), 30 Rockingham Lane, Sheffield, South Yorkshire S1 4FW0114 273 8089
107SmartMove (North Cornwall), St Petrocs Society, 1st Floor, 1-2 Victoria Square, Truro, Cornwall TR1 2RS01872 270236
108SmartMove (Nottingham), 21 Clarendon Street, Nottingham NG1 5HR0115 956 5313
109SmartMove (Southport), Light for Life, 5 Hawkshead Street, Southport, Lancashire PR9 9HF01704 543137
110SmartMove (Teesside) Rent Bond Guarantee Scheme, Advice & Info Centre, Bath Lane, Stockton-on-Tees, Cleveland TS18 2EQ01642 350016
111SmartMove (Watford YMCA), Charter House, Charter Place, Watford, Hertfordshire WD1 2RT01923 353628
112South Gloucestershire Bond Scheme, 23 The Parade, Coniston Road, Patchway, Bristol BS34 5LP01454 865742
113South Gloucestershire Council, Conygre House, Conygre Road, Filton, Bristol BS34 7DD01454 865552
114South Holland Housing Aid, c/o 17 Church Lane, Crowland, Peterborough, Lincolnshire PE6 0ER01733 210932
115South Ribble Rent Guarantee Scheme, Civic Centre, West Paddock, Leyland, Preston, Lancashire PR5 1DH01772 625374
116South Shropshire Young Persons Housing Project, Marston Mill, Port Cullis Lane, Ludlow, Shropshire SY8 1PZ01584 877335
117South Somerset Accommodation Scheme, Morley House, West Hendford, Yeovil, Somerset BA20 1XE01935 410637
118Southampton City Council Deposit Guarantee Scheme, Housing Advice Centre, Southbrook Rise, 4-8 Millbrook Road East, Southampton, Hampshire SO15 1YG0238 083 2977
119Southwark Rent Deposit Guarantee Scheme, 12b Yukon Road, Balham, London SW12 9PU0207 207 2080
120Spelthorne Rentstart Ltd, Community Link Centre, Knowle Green, Staines, Middlesex TW18 1XB01784 446422
121St Helen’s Metropolitan Borough Council, Housing Advice Centre, Ground Floor, Wesley House, Corporation Street, St Helen’s, Merseyside WA10 1HE01744 456209
122Stamford Housing For Young People, 40 St Leonard Street, Stamford, Lincolnshire PE9 2HN01780 754827
123Stroud District Council, Directorate of Housing & Environmental Services, Westward Road, Ebley, Stroud, Gloucestershire GL5 4UB01453 754482
124Tameside Rent Deposit Scheme, Ashton Renewal Project, 157 Old Street, Ashton-under-Lyne, Greater Manchester OL6 7SQ0161 343 7230
125Tandridge Rent Deposit Scheme, The Star Centre, Oxted Library. Oxted, Surrey RH8 0BQ01883 715785
126THATCH Help, 10 Nicola Close, Harrow Weald, Harrow, Middlesex HA3 5HP0208 864 0004
127The Bridge, 50 Duck Street, Rushden, Northamptonshire NN10 9SD01933 419399
128The Clockwise Centre, 85/87 Pier Road, Clacton-on-Sea, Essex CO15 1QE01255 423466
129Three Rivers District Council, Housing Needs& Resources, Three Rivers House, Northway, Rickmansworth, Hertfordshire WD3 1RL01923 776611
130Threshold Centre Ltd, 4th Floor, Bedford House, 215 Balham High Road, London SW17 7BQ0208 682 0898
131Thurrock Deposit Guarantee Scheme,c/o Open Door, 24-28 Orsett Road, Grays, Essex RM17 5EB01375 382697
132Trafford Rent Guarantee Scheme, 25 Heyes Lane, Timperley, Altrimcham, Cheshire, WA15 6EF0161 973 2855
133Two Saints Ltd (Society of St Dismas), 30 Cranbury Avenue, Southampton, Hampshire SO14 0LT01703 390930
134Two Step, 163-165 Tooting High Street, Tooting, London SW17 0SY0208 672 0100
135Vale of White Horse District Council, Revenues & Benefits Department, PO Box 125, The Abbey House, Abingdon, Oxfordshire OX1 4JE01235 520202
136Voluntary Hostels Group, Wensum House, 10a Wensum Street, Norwich, Norfolk NR3 1HR01603 617299
137Wakefield Rent Deposit Scheme, 4 The Springs, Wakefield, West Yorkshire WF1 1PU01924 302100
138Walsall Rent Guarantee Scheme, PO Box 1427, Walsall, West Midlands WS3 3GZ01922 475083
139Waltham Forest H.A.T.R.G.S., c/o 433-443 High Road, Leytonstone, London E11 4JU0208 539 8845
140Warrington Borough Council Rent Deposit Scheme, Housing Services Department, 86 Sankey Street, Warrington, Cheshire WA1 1RH01925 442446
141Waveney District Council Rent Deposit Guarantee Scheme, Housing Department, 80 Clapham Road, Lowestoft, Suffolk NR32 1RB01502 523141
142West Wiltshire Accommodation Project, c/o West Wiltshire Housing Society, Bryer Ash Business park, Bradford Road, Trowbridge, Wiltshire BA14 8RT01225 715778
143Winchester Rent Guarantee Scheme, 16 Colebrook Street, Winchester, Hampshire SO23 9LH01962 862681
144Wintercomfort Rent Deposit Scheme, Overstream House, Victoria Avenue, Cambridge CB4 1EG01223 518146
145Woking Association for the Single Homeless, Woking Churches Rent Guarantee Scheme, Pound House, 35-47 Board School Road, Woking, Surrey GU21 5HD01483 772265
146Woodspring Deposit Guarantee Board, Room 9, YMCA, 2 Bristol Road Lower, Weston Super Mare, Somerset BS23 2PN01934 617617
147Worcester Welfare Rights Centre, Angel Centre, Angel Place, Worcester WR1 3QN01905 612774
148Wycombe Rent Deposit Guarantee Scheme, 52 Frogmore, High Wycmbe, Buckinghamshire HP13 5DG01494 528557
149Young Homeless Project Rent Deposit Guarantee Scheme, 38 High Street, Leamington Spa, Warwickshire CV31 1LW01926 883179
REPUBLIC OF IRELAND
150Simon Freshstart, Dublin Simon Community, PO Box 581, Dublin 1, Republic of Ireland00 353 1 6602836
Northern Ireland
151Cookstown and Western Shores Area Network, Rural Supported Housing Programme, The Crieve Centre, Hillhead, Stewartstown, Co. Tyrone BT71 5HY0288 773 8845
152Council for the Homeless Northern Ireland, 153 University Street, Belfast BT7 1HR01232 246440
153Foyle Homeless Action and Advice Service, SmartMove Rent Deposit Scheme, 8 London Street, Derry City, Co. Londonderry BT48 6RQ0287 136 3256
Scotland
154CATH Keyfund, 10 York Place, Perth PH2 8EP01738 580188
155Clackmannanshire CAB Rough Sleepers Rent Deposit Scheme, 47 Drysdale Street, Alloa, Clackmannanshire FK10 1JA01259 219404
156Dumbarton CAB, 6-14 Bridge Street, Dunbarton G82 1NT01389 734383
157East Dumbartonshire Council, Housing & Community Development, Tom Johnston House, Civic Way, Kirkintilloch G66 7TJ0141 578 8256
158Falkirk Homeless Project, c/o CAB, Old Sheriff Court, Hope Street, Falkirk FK1 5AT01324 628406
159Fife Keyfund, St Brycedale Church, St Brycedale Avenue, Kirkcaldy, Fife KY1 1ET01592 646677
160Glasgow Rent Deposit Scheme, Hillhead Baptist Church, Cresswell Street, Glasgow G12 8RU0141 400 0808
161Jubilee Key Scheme, Suite 6, Beech House, 20 Hope Street, Hamilton, South Lanarkshire ML3 6AF01698 891551
162Matthews Smartmove Project, Edinburgh Cyrenians, Norton Park, 57 Albion Road, Edinburgh EH7 5QY0131 475 2356
163McKay SmartMove Project, Dundee Cyrenians, 1 Soapwork Lane, Jessie Devlin Close, Dundee DD1 1HX01382 228733
164Scottish Churches Housing Agency, 28 Albany Street, Edinburgh EH1 3QH0131 477 4500
165SEASCAPE, Auld Kirk Halls, Blackfriars Walk, Ayr KA7 1TT01292 285424
166Shetland Rent Deposit Scheme, Shetland Islands Council, Housing Services, Fort Road, Lerwick, Shetland ZE1 0LR01595 744380
167SmartMove (East Lothian), Tolbooth Gate, 57 Market Street, Haddington, East Lothian EH41 3JG01620 829300
168Stirling Rent Deposit Guarantee Scheme, Patrons of Cowanes Hospital, 49 St John Street, Stirling FK8 1ED01786 472247
Wales
169Agorfa Bangor Bond Street, The Green house, 1 Trevelyan Terrace, Bangor, Gwynedd LL57 1AX01248 355058
170Barnardo’s Cymru, Compass for Young People, Victoria Centre, 13 Hill Street, Wrexham LL11 1SN01978 315 137
171Bridgend Bond Board, Barnardos Open Door Project, 2nd Floor, Assembly Buildings, 16-18 Derwen Road, Bridgend CF31 1LH01656 654 060
172Cardiff Bond Board, 109 St Mary Street, Cardiff CF11D01222 871442
173Carmenthenshire Bond Scheme, Tai Trothwy, 11-12 King Street, Carmenthen, Carmenthenshire SA31 1BH01267 220257
174Ceredigion Care Society, Agoriad Housing Bond Scheme, 15 North Parade, Aberystwyth, Ceredigion SY23 2JH01970 639111
175Denbighshire Bond Board, c/o Community Agency, Station House, Bodfor Street, Rhyl, Denbighshire LL18 1AT01745 343342
176Dewis, 47 Station Road, Port Talbot SA13 1NW01639 882 536
177Ebbw Fach Development Trust, Nantyglo, Brynmawr, Gwent NP3 4JT01495 315055
178Llamau Housing Society, JIGSO, 240 Holton Road, Barry, Glamorgan CF63 4HS01446 748852
179Merthyr Bond Board, 56 High Street, Pontmorlais, Merthyr Tydfil, Mid Glamorgan CF47 8UN01685 379502
180Pembrokeshire Action for Single Homeless, 20 Upper Market Street, Haverfordwest, Pembrokeshire SA61 1QA01437 765335
181Rhondda Cynon Taff Bond Board, Housing Advice Centre, 35a Taff Street, Pontypridd, South Wales CF37 4YY01443 485515
182Right Move, Monmouthshire County Council, Housing Dept., County hall, Cwmbran, Torfaen NP44 2XH01633 644472
183SmartMove (Newport), Rehousing Services Office, The Bus Station, Kingsway, Newport, Gwent NP20 1EY01633 232594
184Swansea Bond Board, 32-36 High Street, Swansea SA1 1LF01792 301363
  1. vi) List of hotspots

A hotspot is an area where you can purchase a property and achieve a return greater than 12 per cent on your investment.

vii) List Of freefone/lo-call providers

Freephone providers can route your 0800 number to your landline at a cost to you from as little as 3p a minute. You can also route your 0800 number to your mobile for more. Lo-call 0845 numbers are available from the following providers, which means that the caller only pays the cost of a local call. The cost to you starts from nothing! The reason they can call you for the cost of a local call and it costs you nothing is because they want your volume of calls. There are even some numbers that you get paid per minute (0871 numbers) but only cost the caller a standard national call. Check out some of these providers:

 

Name

Web siteTel
Dolphinwww.freephoneservices.co.uk0800 195 8388
Future Numberswww.Future-numbers.co.uk08000 388873
Global Telecomwww.Globaltelecomuk.com08000 277772
21st Centurywww.21st-centurytelecom.com0870 777 2121
Planetwww.Planet-numbers.co.uk0845 130 8000
TTC Marketingwww.blacknet.co.uk0800 742912
Crosby Communicationswww.crosbycomms.co.uk08000 386000
Efaxwww.efax.co.uk0845 458 2845
Telecom Pluswww.0800-freephone-numbers.co.uk08000 740782
Phone number shopwww.thephonenumbershop.co.uk08000 192130
Dataweb Technologieswww.telnos.co.uk0845 1303955

viii) List of credit checking agencies

Here is a list of credit checking agencies. Some offer guarantees on the rent if the tenant defaults.

Name Web siteTelCost
Moneypennywww.moneypenny.co.uk020 7730 0883£17.50
Homeletwww.homeletuk.com020 8768 1616£17.62 – Basic

£47.00 – including employer’s reference and landlord’s reference

£70.50 – available if prospective tenant is a full time employee. If tenant defaults they guarantee the rent for 6 months up to

£1,500pcm rent.

From £94.00 – if prospective tenant is part time or self-employed. If tenant defaults they guarantee the rent for 6 months and there is no maximum on the monthly rental.

Paragonwww.paragon-plus.co.uk08000 925901£15.00 – basic

£29.00 – including employer’s reference and landlord’s reference

£49.00 – available if prospective tenant is a full time employee. If tenant defaults they guarantee the rent for 6 months up to

£1,500pcm rent.

Letsurewww.letsure.co.uk01628 581500Varies
Easyletwww.easylet.org.uk0870 749 4120£25 per prospective tenant. An extra £52.50 to guarantee the rent and legal expenses once the tenant has passed.

You can see the checks can be expensive. If you put forward four prospective tenants under a guarantee scheme check you could be spending nearly £300 – and this still doesn’t mean that you would have found a tenant as all the tenants could have failed the credit check!

  1. ix) Guaranteed rent and maintenance contracts

Guaranteed rent can be obtained by one of three ways:

  1. Via an insurance contract. This is where you pay a percentage of the rent to the insurer, typically 3 per cent, or a fixed fee to the insurer to cover you against the tenant defaulting. The tenant has to be credit checked initially for a nominal fee but from then on the rent is guaranteed. All the companies listed in the credit checking agencies above provide this service.
  2. Obtaining a credit check for a one off fee, starting from £49, and then the rent is guaranteed if the tenant defaults. All the companies listed in the credit checking agencies above provide this service.
  3. Getting a letting agent or institution to pay the rent direct. An agent called Northwood Lettings, nthwood.co.uk and Your Move, www.your-move.co.uk provide this. These are a growing chain of national estate agents who pay the rent direct to your bank account even if the property is vacant. University institutions sometimes pay guaranteed rent as they can then sublet on your property to the students. It is worth contacting the university in the area that you are thinking of buying. Councils are also paying guaranteed rent for asylum seekers or under the ‘Empty House Scheme’. This is where the councils will even refurbish the property at no expense to yourself through a government grant (maximum £12,000) in order to make your property tenantable. Schemes that I have found are www.carrick.gov.uk, 01872 224399, www.wealden.gov.uk, 01323 443378, www.hastings.gov.uk, 08000 858967 and www.pavillion.co.uk, 01273 608311. I am sure there are many others.

I have only found one maintenance insurer and that is Homelet (see contact details on page………………..). They cover the cost of a contractor’s call out, labour charge, parts and materials up to the cost of £500 including VAT. They use their own contractors so if there is an emergency you simply call Homelet. They ensure that a contractor will arrive within four hours. The cost for this insurance is £7 per month. This policy does not cover you for call outs due to lack of routine maintenance.

  1. x) Letting agents

I would suggest that you only use an Association of Residential Letting Agents (ARLA) accredited member to collect your rent. Since the agent will be handling your money you need to be covered against fraud i.e. the agent running off with your money! If the agent commits any fraudulent acts your money is fully guaranteed by ARLA. You do not even have to prove the fraud to get your money from ARLA.

Your local ARLA member can be found from www.arla.co.uk or by calling 0845 345 5752.

  1. xi) Management software providers

I only really recommend one software provider, EZPZ Landlord. This is because there are few providers of this type of software and this one is the only one that is any good. The great thing about this program is that it is FREE! A fully working program for management of three properties is downloadable from their web site for free. If you wish to manage more than three then it will cost you £199.00. The product details are as follows:

EZPZ Landlord – product details

EZPZ Landlord is a computer bookkeeping system designed specifically to help landlords manage their properties. EZPZ Landlord has all the standard accounting features you would expect from a computerised bookkeeping system:

  • Sales ledger
  • Purchase ledger
  • Nominal ledger
  • Bank reconciliation
  • VAT analysis
  • Automated entries
  • Prepayments and accruals

with additional features including the calculation of rents and automated credit control for tenants. The system enables you to keep details of individual properties and tenants, and the links between them.

Properties

The property records form the main records of the system. Each property will have rent and tenancy records created for it. For example, a tenancy record will hold details of the type of tenancy, its duration and the tenant. Each rent and tenancy record covers a period of time so the system maintains a history of previous rent rates that have been in force, and the tenants that have occupied the property.

Rents may be based on any charging period such as weekly, calendar-monthly, quarterly, or you can define any non-standard period, and may be charged in advance or arrears.

Tenancies may be created for a property for any period and users may define their own tenancy types if unusual periods are involved. The Expiring Tenancies report shows properties for which the tenancy is due to expire.

Accommodation details may be recorded for each property and you can even store a picture within the property record. An inventory and schedule of condition may be created for each property. These may be used in periodic inspections of a property to assess possible damage by tenants.

Tenants

Each tenant's ledger shows what the tenant owes at any time. The automated credit control feature suggests what action to take based on how long rent charges have been overdue. Statements, reminders and final reminders can all be customised to your own requirements.

Tenancy agreements

Tenancy agreements may be printed for any tenancy with a few clicks of the mouse button. Agreements are created from a database of standard paragraphs that can be added, removed, or customised, as you desire.

Reports

The system has a wealth of reports to offer, as you would expect from any bookkeeping system. You can prepare a monthly profit and loss account, balance sheet and even carry out VAT analysis if you are VAT registered.

Limitations of use

The demonstration version of the software limits the creation of properties to three. The registered version does not have this limitation. The number of records that may be created, using the registered version, is limited only by the amount of storage space you have.

System requirements

EZPZ Landlord was written using Microsoft Visual FoxPro V6.0 and is designed to run on any stand alone PC and on any version of Windows including Windows 2000 Professional. To run EZPZ Landlord you will need a minimum of:

  • An IBM-compatible computer with a 486 66MHz processor (or higher)
  • A mouse
  • 16 MB RAM
  • 10 MB free space on your hard drive

Support

Free help and support is available by telephone (office hours) and email, for the lifetime of the product.

Ordering

The demonstration version is downloadable free of charge from the web site www.ezpzsoftware.co.uk. The demonstration version is also available on CD at a price of £5.00 to cover production and postage and packaging costs. This cost will be deducted from the cost of the registered version should you wish to upgrade. Payment may be made online by credit or debit card, or by telephone on 01709 871056.

xii) Local newspapers

If you do not know the local newspaper in the area where you have just invested, there is a very good site that tells you all the local newspapers in that area. www.newspapersoc.org.uk, The Newspapers Society, 020 7636 7014, will have details such as circulation figures, demographics and telephone numbers for you to place your advert.

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