Buy-to-Let in recent years has become an increasingly popular mortgage option for those wishing to invest in residential rental property.
However, some potential investors are put off entering the buy-to-let market due to the popular perception that buy-to-let mortgages are expensive.
Buy-to-Let - the story today
This popular misconception no longer holds true as lenders today are now offering increasingly competitive rates, which in many cases are generally not significantly higher than those on standard mortgages.
Landlords also have a choice between interest only and repayment mortgages. However, buy-to-let mortgages do differ in several important ways from standard mortgages.
A major difference is the criteria lenders apply when considering approving a loan. Buy-to-let mortgage lenders base their decisions generally on whether or not to approve a loan on the likely rental income from the property and not the applicants' income.
In order to secure finance, rental income is typically needed to be 125% of the mortgage repayment, although in some circumstances as little as 100% rental coverage is available.
What can we offer you?
As we have access to thousands of mortgages, the ability to negotiate exclusive deals with a huge range of lenders, we can offer a wide range of buy-to-let mortgages with some special features:
· From as little as 15% deposit required
· First time buyers buy-to-let products available
· No minimum personal income required
· Buy-to-let remortgage packages, including free fee's
· Generous rental calculations available as low as 100% of the monthly mortgage payment
· Ltd company buy-to-lets
· Clients with adverse credit can be accepted
· Buy-to-lets for large portfolios and professional landlord schemes
Whatever your mortgage requirements, we're certain we can find the mortgage for you.
So if you are planning to invest in buy-to-let, move your mortgage to, or remortgaging an existing buy-to-let property, talk to us today. Buy-to-let mortgages are NOT regulated by the Financial Services Authority.