Questions lenders are asking
- Have your tenant(s)/prospective tenant(s) been impacted by COVID-19?
- If so, how does this impact your rental income?
- What plans do you have in place in the face of extended rental voids, or shortfalls in payments from tenants?
- Have you experienced any change in business as a result of the COVID 19 pandemic? If yes, how have you been affected?
- Do you have a contingency plan in place?
- What is your current level of income?
- How will mortgage payments be maintained?
Additional supporting paperwork that has been requested
- Latest months personal bank statement
- Copy of current AST and bank statement showing most recent rent received for the subject property
- Evidence of funds to support 3 months of rental voids
- Business Plan