Buy to Let Mortgage Advice
Here at Stuart Brown Mortgage Services, we can provide you with buy to let mortgage advice. These are mortgages specifically available for borrowers to aid them to purchase investment properties. The anticipated rental income is primarily used to assess the amount that can be borrowed, and the calculation used by different lenders varies.
Usually, the lender prefers
- The borrower to already own their own home (with or without a mortgage)
- To earn over a set amount per annum e.g. £25000
- To have a good credit history
- For the rent to cover the proposed mortgage interest using a rental calculation, for example, £mortgage amount x arbitrary interest rate x 125% = minimum annual rent (sometimes 145%)
Lenders offer different schemes in a similar way to residential mortgages, they tend to have either higher pay rates or higher setup costs (sometimes both!)
In terms of the repayment method, they will allow Pure Interest Only as well as full repayment too, being more relaxed about the manner in which the mortgage is repaid as it is not your main residence. Also, Buy to Let mortgages are not currently (Nov 2015) regulated by the Financial Conduct Authority (although this could of course change in the future).
Purchasing any property is a big commitment, buying one to let out to tenants has additional aspects that need to be fully considered. We have a wealth of experience in arranging Buy to Let mortgages (and own several ourselves) so can give you pointers as to how they work and what other areas you need to consider i.e. record-keeping for tax purposes, dealing with letting agents etc. So, if you require buy to let mortgage advice, we are available to help you through the process. It is a good idea to speak to mortgage broker buy to let.
Our let to buy mortgage brokers can provide you with buy to let advice to ensure that you are aware of your options. Contact us today to speak to our expert buy to let mortgage advisors.
We can also offer help with Bridging, Development & Commercial Finance. For more information please follow the link below.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up the repayments on your mortgage.
Mortgages from over 50 lenders
Over 17 years Experience With Excellent Customer Service
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Can I get approved for a mortgage? Getting approved for a mortgage can be a stressful process as it is one of the most important steps in the home buying or remortgaging procedure. Here at Stuart Brown we are available to help you through the process of gaining approval for a mortgage and can offer you expert advice before you submit your application.
“Stuart and Sharon have arranged a buy-to-let mortgage, a mortgage for our first home together, a re-mortgage and have now helped us port over our mortgage to a new house. The service they have provided has been consistently amazing, especially as our purchases have never been straight forward. I would recommend them to anyone.” Dominic, Surrey
“Stuart was recommended to me by a friend and I would certainly continue that recommendation. He is very thorough and ensures you know all the options. Stuart makes the process clear and you feel informed the whole way. Thanks Stuart” Danielle C, Hemel Hempstead
“Stuart is an expert in his field, giving great objective advice after careful and deliberate diagnosis of what we were after. I can confirm he is also a very patient man. Highly recommended!” Alex C, Leighton Buzzard
“Remortgage quickly sorted out today via phone/email. All options explained and discussed and I’m very happy with the outcome. Thoroughly recommend.” Craig B, Sunny Scotland
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