Buy To Let Investments
Are you looking to invest in property? Our team can source from a suite of lenders and compare products to ensure you have the best mortgage that suits your individual circumstances. Back in 2008 many left the buy to let market and a few limped on, realising that being a landlord was quite demanding. There is still a solid place for serious buy to letters out there who can work and think strategically to build up a business. When you purchase a property you are going to rent out to the public you need a certain mortgage and insurance, the mortgage will generally have much higher interest rates than a residential mortgage. If you scrimp on this detail the bank may call in its mortgage altogether.
Banks are interested in lending to serious investors who can have a higher percentage of the property. One aspect of the buy to let mortgage that makes life slightly easier for the purchaser is the fact that they are often interest only. This means that instead of paying the capital loan and the interest each month on the property, you only pay the interest on the property each month. Then once the agreement comes to the end you can pay back the loan capital by selling the property; If there are any profits the seller can retain them.
When you purchase a buy to let property the bank will see you as a business partner, one which it hopes will be fit, healthy and alive towards the end of the agreement. The bank isn’t just throwing money at property buyers nowadays so you will need a good business plan and take on a bulk of the liability. Are you targeting young professionals, students, married couples or commuters? You will need a niche market in mind before you go any further.
More About Buy To Let Investments
When you invest in property and rent it out to the public you aren’t only responsible to the bank but the local authority as well. This is because a rental property needs to reach basic levels of safety, hygiene and energy efficiency. It is definitely worth getting in contact with your council’s housing department for further advice on your legal requirements before you proceed. Barrett Mortgage is a professional finance broker with an office in Poole, Dorset. Providing mortgages for everyone. We were founded by Darren Barrett in 2009, during some of the hardest market conditions the industry has seen. Our unparalleled, clear, trustworthy, honest and upfront service is offered by us; This has meant our business has thrived during these times when clients have needed more individual and specialist help.
All of our staff are fully qualified, experienced and chosen based on their keenness to provide an excellent service to all of our customers. We promise no pushy hard sales tactics and have built a strong reputation which is important as we rely heavily on referrals from clients. If you are interested in the help, advice and service we can provide you with then please make sure you get in contact with us. Take a look at our Google reviews to see what our clients think about our service.