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A couple were in the unique situation of needing a buy to let mortgage for a mixed-use property whilst venturing up their first step on the property ladder. MFB's team of mortgage brokers were there to guide them through the process. 

The Clients

A married couple from Shropshire who were looking to purchase their first investment property. The husband worked in financial services and the wife was a teacher in a local primary school. They were first-time buyers and first-time landlords.

The Property

A mid-terrace property on the outskirts of a Shropshire town. A small accountancy practice leases an office set on the ground floor, whilst upstairs is a 2-bed flat let to a working couple. The property also has a small private courtyard.

The Finance

The couple had a deposit of £51,000 from their personal savings. New to property investment of any kind, the couple wanted our help to find a buy to let mortgage lender who would not only accept first-time buyers but could also process applications very quickly. 

Most lenders require applicants to be homeowners already and have experience in letting property, especially when purchasing premises with a commercial element.

The Application Process

We took the case to a particular specialist lender we work with often and know to accept first-time landlords. As we track lenders' processing times, we knew that the lender could work within the clients' required timescale.

In support of the application, the clients provided proof of identity, address and income. The ensuing valuation report confirmed the property to be good security for the loan and just a few weeks later, a formal mortgage offer was issued, to the delight of our clients.

Property Details 

Property value: £170,000

Loan amount:


 3.36% 3 year fixed

 25 years interest only

Lender arrangement fee:

Mortgage payment: £366 pcm

Rental income:
 £1,000 pcm

Gross yield:
 7% pa

Robin Tate, Senior Consultant Mortgage Broker, CertBB&C

Have a similar case? 

If you have a similar case you would like to discuss, get in touch, and one of our expert mortgage brokers will be happy to advise. 

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