We can source you from a suite of lenders to find you the best mortgage that suits your circumstances. We understand investors need to maximise on income and ensure the right product to help you grow your investment portfolio. One thing to keep in mind when you are trying to get a buy to let mortgage is that you need a different type of mortgage to the conventional residential mortgage and these mortgages normally have a higher interest rate as well. The loan to value percentage is higher for a buy to let mortgage as well, this shows that banks are interested in serious investors that can have a higher percentage of the value of the property themselves. What can make it easier is that most buy to let mortgages interest only, this means that you only have to pay the interested of the loan and not the loan capital and to pay back the capital at the end of the agreement you sell the property and the seller can retain any profits.
The bank sees the borrower as a business partner, one which it hopes will be fit, healthy and alive towards the end of the agreement. When going into the letting business, you need to make sure that you have a viable business plan, are you targeting students, married couples, or commuters? If you don’t have a niche market in mind, you need to get one before you go any further. As this will determine where and what you buy. There is no point aiming a property at families in a row of student houses.
Get in contact with us if you are interested in our services, we can help and guide you through the whole process.