Skip to main content

Buy-To-Let Customer Journey

Your mortgage journey does not have to be complicated and confusing...

Come to Trusted Novus Bank for an initial conversation and let us help you understand our mortgage process, the key steps involved and provide you with an indicative amount you might be able to borrow.

1. Research

Deciding to invest in a property is a big decision, irrespective of whether you are looking to diversify your investments or add to your existing real estate investment portfolio, with many considerations, such as:

  • Understanding the responsibilities of becoming a landlord
  • Understanding tax implications involved with a Buy-To-Let property
  • Understanding the additional and ongoing costs involved, including purchase/mortgage costs, property maintenance and liability insurance etc.

2. Explore

  • Come and speak to us to discuss your financials and to understand the next steps to proceed with your Buy-to-Let mortgage
  • Get an indication as to how much you might be able to borrow
  • Understand what key documents you will need to provide to apply for a Buy-To-Let mortgage from Trusted Novus bank
  • Understand the additional and ongoing costs involved in setting-up and repaying the mortgage
  • Understand the different mortgage repayment types we can offer
  • Search for a property (if you haven’t already found one) to your liking and within your budget

3. Approval

Submit your application and any other relevant documents. You will normally need to submit the following:

  • A rental breakdown of all your existing buy-to-let properties
  • Income/Expenditure and Personal Wealth Statement (for personal clients)
  • Latest audited Financial Account (for Corporates)
  • Management accounts (for Corporates)
  • Cashflow for the coming year
  • 6 months of Bank Statements/Proof of Rental Income
  • Proof of other income i.e. payslips etc.  

We will review your application and prepare the credit application to submit and get back to you

4. Your offer for your new investment property has been accepted!

5. Pre-Purchase

  • After your application is approved and you have found your new investment property, we will make arrangements for the property to be valued
  • Subject to valuation we will issue you with the loan documents; this includes a facility letter and key terms and conditions. We will give you a 7-day reflection period before you sign and accept the Buy-To-Let mortgage offer

6. Purchase

  • You will sign and return facility documents 
  • At this point, if you haven't done so already, you will need to instruct  a lawyer to act on your behalf in the mortgage and purchase of the property
  • We will also instruct lawyers to act for the bank and they will liaise with your lawyers to ensure all the Bank's security formalities are in place ready for drawdown of the mortgage

7. Complete

  • Once the completion date is agreed, the deed of the mortgage is signed at your lawyer's office. The mortgage is drawn down and funds are transferred to the lawyers ready for completion on your property purchase. 
  • On completion day the funds are paid to the seller, the property is transferred into your name(s) and you get the keys to your new investment property!

We at Trusted Novus Bank want to help make your journey of buying your investment property easy, personal and out of the ordinary.

Applications are subject to the applicant’s personal financial circumstances. Terms and conditions apply. 

The property may be repossessed if you do not keep up repayments on your mortgage