Buy To Let Mortgages In Poole

PUBLISHED: 12 October 2020
DISCLAIMER: The information in this blog post may be outdated and may not reflect current financial practices or market conditions

If you are looking to get 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.

When you want to let a property out, you cannot use a conventional mortgage or insurance. Switching a regular residential home over to rental use requires a special but to let mortgage. A mortgage for rental property will typically have much higher interest rates than a normal mortgage. Banks are interested in lending to serious investors that can put a higher percentage of the property down themselves. One aspect that may make it easier for the purchaser is the mortgage is normally interest only. This means that each monthly payment covers 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. To make sure that this is a successful investment you will need to come up with a business plan. Not only so you can get the bank to back you but so you can also keep the value of the property or make a profit from the property after the agreement. Are you going to target students, professionals or married couples? The niche you choose will determine where and what you buy.

It is also good to keep in mind that you will also be responsible to the local authority as well as the bank, it might be worth consulting your council’s housing department for further advice on your legal requirements before you proceed. If you are interested in getting a buy to let mortgage or want to know more about any of our services, get in contact with us.