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Just watched The Property Market Undercover; have some questions!


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I just watched the Channel 4 Dispatches show The Property Market Undercover http://www.channel4.com/programmes/dispatches/on-demand/57108-003

 

I'm new to property and apart from trying to work my way through the podcasts don't have much knowledge (I've just ordered Rob's book).

 

After watching that show, I have a few questions about buy to let mortgages. 

 

In the show, the rogue agents mentioned that when applying for a BTL you don't have to show your earnings, is this true?

 

The dodgy agents also said it was OK to live in a place you bought on a BTL mortgage after a period of time, is this true?

 

Obviously, those were the agents who were bending the rules, hence the show. But are BTL mortgages that easy to get and how much of what they were saying was wrong or misleading?

 

I'm freelance/self-employed with only 1 year of earnings and nothing prior to that for the last six years. 

 

It sounded like I could walk into an estate agent and get a BTL mortgage with not much questioning, then rent it to my girlfriend and move in with her!

 

Not that I want to do that of course, but it all sounds a bit wild west out there!

 

Was it just a sensational investigation or are we headed for another 'bust'?

 

Thanks.

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