Welcome to the reallymoving forum
Got questions and need some advice? Our forums have answers on everything from choosing the right property, to renting and selling.
  • If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Announcement

Collapse
No announcement yet.

Tenant Farmer Unable to Meet Criteria

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Tenant Farmer Unable to Meet Criteria

    I am a tenant farmer, I have to live in the farmhouse as part of my tenancy agreement, me & my wife are wanting to purchase a buy to let, I have never had a property so banks are classing me as a first time buyer, my wife has a property which is mortgage free, means nothing to banks etc we are struggling to find anyone to agree to a mortgage as we don't meet the criteria, we are lucky that the farm business pays all bills so our wages are small, most banks want a minimum income of £25k which if we paid all bills we would have but on paper we have much less. We have what we consider a healthy deposit, approx £40k, we only really want a mortgage of max £100k. We can't be the only people in this situation, can we?

  • #2
    Re: Tenant Farmer Unable to Meet Criteria

    Does anyone have any advice of who maybe able to assist us with getting a mortgage?

    Comment


    • #3
      Re: Tenant Farmer Unable to Meet Criteria

      Still hitting a brick wall with getting a mortgage, does anyone please have any suggestions? Our issue seems to Im classed as a first time buyer, we don't want a first time buyers mortgage, or we don't have the income, farms pays all bills so wage we take is for everyday stuff like food,clothes, entertainment etc, if our accountant wasn't doing his job so well it wouldn't be a problem, best excuse we've had so far is saying i have no experience in buy to let's even though my parents have had a buy to let for 20 years & my wife has a buy to let. Please anyone have any suggestions as I'm getting very frustrated.

      Comment


      • #4
        Re: Tenant Farmer Unable to Meet Criteria

        I'm not a mortgage advisor, and unfortunately can't advise you on the route to take but wanted to reply just to politely acknowledge your post.

        I presume you've been in contact with mortgage brokers / advisors regarding this? At the end of the day they will ultimately be the ones who would be able to guide you in the direction of a possible option, again, assuming there is on.

        Good luck to you

        Comment


        • #5
          Re: Tenant Farmer Unable to Meet Criteria

          Thanks, nice for someone acknowledge, up to 12 rejections so far!

          Comment

          Working...
          X