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Our service and turnaround times

Figures accurate as of 25th October 2021
Dips Reviewed

Dips Reviewed

within 24 hours

Applications Reviewed

Applications Reviewed

within 72 hours

Documents Assessed

Documents Assessed

within 96 hours

Valuations Assessed

Valuations Assessed

within 96 hours

Telephone average wait time

Telephone average wait time

59 seconds

Big Questions Deserve Big Answers
Thursday 26th of September 2019

A quarter of landlords plagued by tenants who can’t change a lightbulb

A quarter of landlords are facing nonsensical complaints from their tenants, including changing a lightbulb, and four in ten have experienced property damage according to a special report ‘Buy to Let: The Landlord Experience’ from The Mortgage Lender.

It asked a panel of residential landlords what issues they had experienced with tenants. After property damage and nonsensical complaints came arrears up to three months followed by furniture damage and theft, and arrears over three months.

Unpaid utility and other bills came in at joint fifth place with one in five landlords reporting tenants who had left a property without settling their debts.

When asked what type of tenants were responsible for the issues experienced by landlords one in two said a single family, four in ten cited a single person and one in eight said benefit recipients.

The Mortgage Lender deputy chief executive Peter Beaumont said: “Our research suggests being a landlord isn’t for the faint-hearted, finding tenants who will pay on time, look after the property and be able to change their own light bulbs doesn’t appear to be easy.

“But at The Mortgage Lender we’ve priced our products and honed our criteria to help landlords with real life borrowing requirements secure a mortgage that’s right for them – so that’s one less thing for landlords to worry about while they are changing their tenants’ lightbulbs.”

Top five Issues landlords have experienced with tenants

Property damage 39%
Nonsensical complaints eg changing lightbulb 26%
Arrears up to three months 23%
Furniture damage/theft 20%
Arrears over three months 19%
Unpaid utility/other bills 19%

The Mortgage Lender is an intermediary-only mortgage lender. It provides real life lending choices for a wide range of borrowers including employed, self-employed, those with impaired credit, lending into retirement and buy to let investors.

In 2019 it has launched expat buy to let, Help to Buy residential mortgages, its first buy to let fees assisted remortgage product and completed its first UK mortgage-backed securitisation of residential assets for a total notes issuance of £238.5m.

Download the full report

Written by News Teamof The Mortgage Lender

Fancy another?

There’s plenty more where that came from. These ones are on us.

Monday 14th October 2019

Property maintenance keeping landlords up at night

Property maintenance tops the list of issues that are keeping residential landlords…
Read more triangle-right

Thursday 26th September 2019

A quarter of landlords plagued by tenants who can’t change a lightbulb

A quarter of landlords are facing nonsensical complaints from their tenants, including…
Read more triangle-right

Friday 13th September 2019

Specialist brokers missing out on £21bn of BTL mortgages

Specialist buy to let (BTL) mortgage brokers are missing out on £21bn…
Read more triangle-right

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