Buy to let
Buy to let Mortgages differ from traditional mortgages by specifically allowing rental revenue to be considered as income when considering the ability of the buyer to meet the ongoing remortgage payments. Buy to Let mortgages are very similar to standard mortgages for property which the owner will inhabit.
The percentage which the buy to let lender is willing to lend is likely to be restricted to 85% of the value of a property. The term of a buy to let mortgage is likely to be somewhere in the region of 5 to 45 years. Interest rates are also likely to be slightly higher than those which a standard mortgage agreement attracts.
If you would like some expert advice, or you are searching for a specific mortgage product, our team of advisers will be able to help you find the right mortgage to suit your specific needs. Our list of suppliers are able to offer mortgage packages not available on the high street.
Again with the 2008 credit crunch existing buy to let owners need to take advantage of independent mortgage advice in reviewing their plans.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
In general Buy to Let mortgages are not regulated by the Financial Services Authority.
