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Buy to let mortgages are different to the conventional residential mortgage. They are designed to be used when the property is being let out and often mortgage companies will decline an application if the right type of mortgage is not chosen. The rates may be slightly higher and the application process is often based on the potential income from the rental rather than the applicant’s income. You'll often need a slightly higher deposit then a residential mortgage and you'll need to ensure that the property insurance is correct, as insurance firms may decline any claims if it’s not right.
If you have a portfolio of properties or just looking to purchase a second property to let out, our team of qualified mortgage advisers can help you get the most suitable deal. We can access the whole of the market and will be able to get you a great deal for your second property. We'll also be able to support you make the right decisions to ensure that you make the most of letting the property.
To arrange a call back fill out the contact form or drop us an email.
Your home may be repossessed if you do not keep up repayments on your mortgage
The Financial Conduct Authority does not regulate Buy to Let Mortgages.
If you have a portfolio of properties or just looking to purchase a second property to let out, our team of qualified mortgage advisers can help you get the most suitable deal. We can access the whole of the market and will be able to get you a great deal for your second property. We'll also be able to support you make the right decisions to ensure that you make the most of letting the property.
To arrange a call back fill out the contact form or drop us an email.
Your home may be repossessed if you do not keep up repayments on your mortgage
The Financial Conduct Authority does not regulate Buy to Let Mortgages.
We offer a fast and flexible service, saving you time and providing you with the confidence that you are getting a great deal on your mortgage.
Why Buy to Let? The introduction of assured shorthold tenancies in 1997, which made the rights of
tenants and landlords more equal, created the buy-to-let market that exists today. Some say buy-to-let has forced up property prices but there is no doubt it has a part to play as first time buyers are getting older and younger people are renting. The whole point of buying-to-let is for its investment potential – both capital growth on the value of the property and the income it generates in rent. Buy-tolet lending is to support investment, not home ownership. It is important to note that lenders carry out post-completion checks in relation to scheme abuse to see who is residing at the property. Finding the right mortgage The buy-to-let mortgage market is a specialised one. In April 2014 the mortgage industry implemented the changes that came from the Financial Conduct Authority’s (FCA) Mortgage Market Review (MMR). The MMR changed the face of mortgage lending, forcing lenders to pay much more attention to affordability and expenditure rather than simply assessing gross rental income. Lenders view buy-to-let mortgages as higher risk than residential mortgages because they know that many landlords rely on rental income to make the mortgage repayments and if the property is vacant for a period there is no income. Because of this perceived risk, interest rates tend to be higher than residential mortgages. The lender will also demand a larger deposit. Typically in the current market you will struggle to borrow more than 75% of the property value, and any lender will look for rental income that covers around 125% of the mortgage repayments. A lender will expect you to prove the rental income potential too. To arrange a call back fill out the contact form or drop us an email. Your home may be repossessed if you do not keep up repayments on your mortgage The Financial Conduct Authority does not regulate Buy to Let Mortgages. |
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Your home may be repossessed if you do not keep up repayments on your mortgage.
Re-mortgagemyhouse Ltd is registered in England and Wales, No 10602415. Registered address: First Floor, 36 Station Road, Llanishen, Cardiff, CF14 5LT
Re-mortgagemyhouse Ltd is an appointed representative of Quilter Mortgage Planning Limited, which is authorised and regulated by the Financial Conduct Authority. Quilter Mortgage Planning Limited is entered on the FCA register (http://www.fca.org.uk/register/) under reference 440718.
Re-mortgagemyhouse Ltd is registered in England and Wales, No 10602415. Registered address: First Floor, 36 Station Road, Llanishen, Cardiff, CF14 5LT
Re-mortgagemyhouse Ltd is an appointed representative of Quilter Mortgage Planning Limited, which is authorised and regulated by the Financial Conduct Authority. Quilter Mortgage Planning Limited is entered on the FCA register (http://www.fca.org.uk/register/) under reference 440718.
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Re-Mortgagemyhouse Ltd 2017