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A Landlords Reference is simply a letter of reference from your landlord that may be required by a Mortgage Lender if you were renting accommodation prior to purchasing your home.
Here we explain the purpose of the Landlords Reference letter, and look at why a Landlords Reference letter isn't always required, and alternatives. Additionally, we also offer information and details of how we can help with a Mortgage even if you've had rent arrears.
Table of Contents:
So, just to recap then, a Landlords Reference is simply that. It's a Reference from your landlord which takes the form of a letter, and may be required by your Mortgage Lender upon application for a Mortgage if you were renting accommodation prior to you buying a home of your own.
The Landlord's Reference will be required as part of the processing procedures and will confirm whether or not you made your payments on time, or if you were in rent arrears for any period during the 12-months preceding your application to purchase.
The answer is fortunately no, not always.
You may have encountered difficulties with your Landlord, and he may not be prepared to provide a letter of reference for you. In these instances you will be asked to prove your rent payments in some other way.
The alternatives may include proving your rent payments by means of providing a rent book, or bank statements showing the payments.
Yes! No problem. We have an extensive range of mortgage products, and not all schemes require a Landlords Reference. Indeed some will accommodate rent arrears within their lending criteria.
Remember, our qualified mortgage advisors are available to discuss the options open to you. Naturally we'll carefully assess your circumstances, needs, requirements and aspirations in a bid to ensure we come up with the most appropriate solution for you!
Advice and service come first at Shire Direct, and we think you will find us to be friendly, yet professional and helpful. So, please don't hesitate to Contact Us if you would like to discuss your requirements, of course without obligation! Our mortgage advisors are available on Freephone 08000 282 281 from 8am until 10pm everyday (including the weekends!), and we'll of course be delighted to provide you with an in-principle decision - whatever your circumstances.
You can also enquire online - at any time!
We hope we've managed to shed some light for you on the Landlords Reference, and have explained how they aren't always necessary. Don't forget, you'll find lots of useful mortgage and remortgage information throughout our site, so why not pop the kettle on, and take 15 minutes out to explore some of the options that may be available to you, and if ever you do feel we can be of assistance, we're only ever a couple of mouse clicks or a freephone call away and would love to hear from you!
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
Are you worried and becoming stressed because you are having problems getting a mortgage or remortgage? Worry and stress no more! Here at Shire Direct we provide tailor made mortgage solutions to suit you, and can usually help with all kinds of circumstances including...
Remember, we're here to help, and would love to hear from you!
Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.
