Buy To Let Mortgages | Buy To Let Mortgage Quote |
- Mortgage Best Buys
- Types Of Mortgages
- Mortgages for First Time Buyers
- Mortgages for Moving Home
- Remortgages
- Buy to let Mortgages
- Right To Buy
- Life Insurance
- Permanent Health Insurance
- Critical Illness Insurance
- Buildings & Contents Insurance
- Landlords Insurance
- Mortgage Quote
- Why Use A Mortgage Broker
- Complimentary Mortgage Consultation
- Mortgage Calculator
Because of the continuing trend to invest in property, buy to let mortgages are now commonplace in the UK financial markets. Almost everyone can now access a buy to let mortgage ... and it's almost as simple as applying for a residential mortgage, even for first-time landlords.
Having said that, with credit being tight at the moment, lenders have restricted their lending criteria, making it more complicated to get a buy to let mortgage than it was before 2008.
As with a mortgage on your home, lenders are mainly concerned with the issue of your ability to repay the buy to let mortgage. Each lender imposes their own specific conditions on whether they will lend, so it's a good idea to get mortgage advice from The Mortgage Advice Team to see what options are available to you.
Some lenders require you to have a residential mortgage before they will grant you a buy to let mortgage, others will not lend on certain types of property, and there may even be a minimum income requirement of £25,000 depending on the lender.
Compare Best Buy To Let Mortgage Deals.
What is Buy-To-Let?
The theory of buy to let is very simple: You purchase residential property, flats or houses, and let it out to tenants, either on a long-term or a short-term basis that will, at the very least, cover the running costs.Driven by the rising concern over the poor performance of pensions in the last few years, the buy- to-let market became a way for people to start taking some control to plan for their retirement.
Buy-to-let investors tend to fall into one of two catagories: those aiming for maximum capital growth and those wanting an income.
Historical data shows that residential property in the UK tends to double in value every 10 yrs on average. This is dependent upon location. Currently the rental market is very strong as first-time buyers find it more difficult to buy, they are renting.
Despite the recent fall in property prices, buy to let property is still seen as a good long-term investment for increasing capital or generating an income.
Compare Best Buy To Let Mortgage Deals.
Buy To Let Mortgage Finance
Having decided to get involved in the buy-to-let market, the first thing that needs to be considered is a buy to let mortgage. There are still a wide number of lenders willing to lend for buy-to-let mortgages, but the credit crunch has restricted the criteria.As with a mortgage on your home, lenders are mainly concerned with the issue of your ability to repay the mortgage. Each lender imposes their own specific conditions on whether they will lend, so it's a good idea to get mortgage advice from The Mortage Advice Team to see what options are available to you.
A buy-to-let mortgage has different requirements to with a standard residential mortgage. Do not be tempted to use a residential mortgage if you intend to rent out the property. If you let it out, you would need to inform your lender, who may increase the interest rate, or even not agree to it and you could be breaking the terms of the mortgage.
|
Good, solid advice to help you stay in control of your finances |
Best Buy To Let Mortgage Deals To Help You On The Investment Property Ladder