INDEPENDENT MORTGAGE ADVISERS

SKEGNESS MORTGAGE CENTRE

 

 

Buying a property to rent

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Buying A Property to Rent (Buy to Let)

 

This can be a popular mortgage option for those wishing to invest in residential rental property. Although the perception is that buy to let mortgages are expensive, this isn't necessarily correct. There are many lenders who offer competitive rates, which in many cases are generally similar to the rates offered on a standard mortgage.

 

Landlords also have a choice between interest only and repayment mortgages. Buy to let mortgages do differ in several ways from standard mortgages. When lenders are considering approving a buy to let loan, they generally base their decision on the likely rental income from the property and not necessarily the applicants' income. A prospective landlord needs to be aware that the rental income typically needed is 125% of the mortgage repayment, although this can vary from as little as 100% rental income up to 130%.

 

With our expertise in this market, we can help you find the best product to suit your requirements. With our extensive access to thousands of mortgages and our knowledge of lender's requirements, we can find you the right buy-to-let mortgage.

 

Our fee for mortgages is usually £295 for mortgage advice and recommendation. We will also receive commission from the lender.

 

Your property may be repossessed if you do not keep up repayments on your mortgage.

 

The FCA does not regulate some forms of Buy to Let mortgages.

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