Buy To Let Mortgages
The Commercial Loan Specialists will help and advise you to ensure that you get the best possible rates and deals on buy to let mortgages. We have access to a number of the major lenders within the UK so that you can obtain the most flexible low rate finance.
~ Free impartial advice and guidance
~ Fast quotations available within hours.
~ Completions in a matter of weeks.
~ No high pressure interviews.
~ Mortgages available up to 100% of the property value.
~ Remortgage schemes available to raise cash for any purpose.
~ Bad credit history is no problem.
~ Pubs, hotels, farms, factories, warehouses, offices, shops, etc.
~ Non status and self certification made easy.
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If you're interested in becoming a landlord, let us help you secure your buy to let investment property. If you aren't sure how much you can borrow, enquire today to speak to one of our buy to let mortgage advisors.
Investing in buy to let property can be very lucrative, but it is essential that you do your homework and research the options. The options to consider will include; what type of property should you buy? Which location? Should you use a letting agency? What mortgage rates/deals are available to you?
When investing in a buy to let property you will need to decide whether your primary objective is income or capital growth. In other words, are you looking to make a profit month on month or are you looking to make a profit through increased equity from the buy to let property as it increases in value over time? The decision may affect the type of property you purchase, and the location.
Buy to let is generally seen as a long term investment opportunity. This is due to the lengthy time periods and relatively large costs involved in acquiring and disposing of the property. Unlike many investments however, buy to let has the potential, thanks to the rising house prices and high rental yields to provide both income and capital growth.
When you manage a property there are many costs involved in addition to the monthly mortgage repayments. As a guide, a buy to let investor should be aiming to achieve a gross rent of about 135% of the rental property's interest only mortgage repayments. This is in order to cover any costs should anything go wrong. These additional costs will include:
Property upkeep – Maintenance costs for the property. This will include decorating costs and all such related matters.
Ground rent/service charges – This is usually only applicable to leasehold properties.
Letting agent’s fees – letting agents charge around 10% of the monthly rent for finding and qualifying tenants. An additional charge of up to 5% is usually payable if you require a full management service from the letting agents.
Insurance – This will include any related insurance requirements such as buildings insurance.
Furnishings – If the property is to come furnished then these items must be purchased.
Gas/Electrical Appliances – The cost of maintenance and repair & compliance with regulations.
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The terms for buy to let mortgages differ from a mortgage that you would take out to buy your own home. Charges are higher and the lender will generally require at least a 15% deposit of the property value. Lenders will assess how much they are prepared to lend in respect to the amount of rent the property is expected to produce.
By speaking to one of our mortgage advisors today, we can greatly assist you with your buy to let investment requirements by guiding, advising and assessing the best products on the market for your circumstances.
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