At Barrett Mortgages we are able to provide you with excellent service to get you a mortgage that is the best suited to your financial situation. We are a professional finance broker with offices in Poole, Dorset. Providing mortgages for everyone. People are getting fed up with the high pressured sales tactics of the large corporates, we promise to not use high-pressure tactics. Since our formation in 2009, we have been giving clear, honest and upfront service. This has been during some of the hardest market conditions and where people have needed more individual and specialist help. We have staff that are fully qualified, experienced and chosen based on their keenness to provide the best possible experience for our customers. We have built a strong reputation which is important as we rely heavily on referrals from clients.
Are you looking to become a landlord? We can help you find the best products for the property you want to let out to the public. We will source a suite of lenders to find a mortgage that suits your individual circumstances. We also understand that you will need to maximise income and ensure the right product to help you grow your investment portfolio. Many people left the buy to let market in 2008 and a few limped on, after realising that being a landlord is often quite demanding. There is still a place for people who want to have a buy to let property and can work and think strategically to build up a business. With a buy to let property, you can’t use a regular residential mortgage. You will have to switch it to a special buy to let mortgage.
A mortgage for rental property will typically have much higher interest rates than a residential mortgage. The banks are interested in lending to people who are serious who can put down a higher percentage of the property themselves. One aspect of a buy to let mortgage that can help the purchaser is that they are often interest only. This means that each monthly repayment covers just the interest on the property and not the loan capital. At the end of the agreement, the capital can be repaid by selling the property and the seller can retain any profits. This presumes, of course, that there are profits. A poor purchasing decision could leave you with negative equity.
When you go to the bank for a loan they will see you as a business partner and they will hope this business partner will be fit, healthy and alive towards the end of the agreement. The bank will expect a landlord to take on the bulk of the liability. This will mean you need you are going to need a good business plan.
If you are interested in our help and advice please make sure you get in contact with us. Want to know what our clients think about our service? Take a look at our reviews.