Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Buy To Let
Buying properties to let often referred to as buy to let mortgages is an increasingly popular choice when looking for a way to receive a regular monthly income or invest your money.
The main idea of a Buy to Let is that in time, the rental income received will have paid off the original mortgage, leaving a debt free property which can provide a regular income.
There is also the potential that the property may increase in value.
Offering the same great choices as any other type of home loan or mortgage, for buy to let mortgages, you will be able to select from competitive rates, varying product features and a wide choice of lenders willing to advance you money. A main difference is that you are usually required to put down a greater portion of the value of the property as a deposit, usually between 15 to 25%
If you are planning to invest in a buy to let mortgage, or if you already have a buy to let mortgage, the right buy to let mortgage is crucial. Our mortgage broker service gives access to great UK buy to let mortgages. We aim to help, whatever your needs are.
When considering taking out a Buy to Let Mortgage on an investment property, it is always prudent to consider some of the downsides, such as:
• There may be void rental periods when the property is not tenanted and so no rent is received.
• There could be a decrease in rental income due to adverse economic conditions or as a result of a substantial increase in the supply of rented accommodation in a particular area.
• Increase rates could increase on any loan taken to acquire the property, without a corresponding increase in the rental income to cover that interest.
• There could be a fall in the value of the property - if the property has to be sold, you might not get back all you have paid.
- Want a buy to let mortgage?
- As an independent, we are not tied to any lenders.
- Some products are not available if you went direct to the lender.