Where accountant certificate or SA302 is submitted as proof of self-employed income and rental income is included, this can be considered. We need to ensure the rental declared on any accountant certificate is a net figure. If we have verified the rental figure is net of any costs, mortgage payment and tax liability then the buy to let mortgage payment can be ignored.
Where an applicant has a background but to let and they are employed, if there is no accountant certificate or SA302 as they have acquired the property less than 12 months ago, current signed assured shorthold tenancy agreement will be required, In the credit commitment section under mortgages and secured loans you will need to indicate any Buy to Let mortgages in the charge type section by selecting the BTL option from the drop down menu and provide a copy of the land registry. The total monthly rental income for all Buy to Let properties should be captured under rental income in the affordability assessment.
Where an applicant has a rental property which is jointly with another party who is not associated with our application, please refer to an underwriter
Where rent is received from a family member, this cannot be considered for income purposes.