With a buy to let mortgage, we will source from a suite of lenders and compare products to ensure you have the best mortgage that suits your individual circumstances. We understand investors need to maximise on income and ensure the right product to help you grow your investment portfolio. Our advisor will understand your needs whether you are looking for that 1-time investment, or to build a portfolio of properties. Let our experts guide you. You can’t use a conventional mortgage or insurance to buy a buy to let property and switching a regular residential home over to rental use requires a special buy to let mortgage.
A mortgage for rental property will typically have a much higher interested rate than a residential mortgage. The loan to value percentage is higher for a buy to let mortgage (how much of the property you can actually borrow). This shows that banks are interested in lending to serious investors who can a higher per cent of the value of property themselves. One aspect of the buy to let mortgage that makes life slightly easier for the purchaser is the fact that they are often interested only. This means that each monthly repayment covers the interested in the property and not the capital. Then once the agreement comes to an end you can repay the capital by selling the property. All the profits can be retained by the seller.
The banks see the borrower as a business partner, therefore you will have to come up with a viable business plan to secure a buy to let mortgage. Get in contact with us if you are interested in our services and advise.