Buy To Let Mortgages
Buy to Let Mortgages are aimed at those seeking to purchase a property to rent out. With lower interest rates and stagnant property prices, buy to let has become a popular option for investment and income generation. The lending criteria for buy to let mortgages is strict, though varies between lenders. Most lenders require a minimum 25% deposit, so it goes without saying that you will need to have a large sum of cash at the ready before being able to enter the buy to let market.
Is Buy to Let right for you?
Before filling out an application for a buy to let mortgage, it’s very important to assess the market and ensure that not only are you signing up for the product that is right for you, but that you are confident that buying to let is for you.
Consider whether buy to let is the arena in which your investment will best perform and bear in mind that property values can both rise and fall. Different lenders will offer products that vary in their criteria, interest rates, features and conditions and it’s worth taking the time to research each possible buy to let mortgage option. Research your target tenant market, the locality in which you are considering purchasing a house.
Can you afford to buy a buy to let mortgage?
Before engaging in any buy to let mortgage contract, it is absolutely essential that you are certain a buy to let type mortgage fits within your financial capabilities. Find out about repayments and interest rates, factor these into your calculations, leaving yourself some leeway for future rate rises. Plan for every eventuality – what if your property sits empty for several months? What about basic maintenance and repairs that, as a landlord, you will be obliged to take care of? Lenders will usually assess the loan on the basis of rental income being more than sufficient to meet the mortgage by a certain margin, rather than assessing on earned income, although many do require a minimum level of earned income.
*Note - In general, Buy to Let Mortgages are not regulated by the Financial Conduct Authority
Disclaimer - Note
YOUR PROPERTY 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 Conduct Authority
We will charge a broker fee of between £299 and £499, payable on application. The amount we will charge is dependent on the amount of research and administration that is required.
Request Your Initial Mortgage Consultation Today!
Should you need help or understanding about these different mortgages, please call Trust Financial Solutions for expert advice and help and reassurance on which one is right for you. We simply aim to give you the ability to buy your home with peace of mind and to live the lifestyle of your choice.
Trust Financial Solutions can assist you in finding the right mortgage for you. We offer a confidential one-on-one service that can take the guesswork out of mortgages and help to guide you through the process from start to finish. This is what we do best and we look after you every step of the way.
- We match your personal situation and objectives with the most appropriate mortgage deals available from our panel of mortgage lenders.
- We will request from you all the necessary paperwork at the start.
- We work closely & meticulously with mortgage companies to ensure the application is processed promptly, guiding you through every step of the way from first contact to completion.
- We take pride in working to meet your timescales.
At Trust Financial Solutions we strive to be professional, courteous, prompt, trustworthy, honest, caring, but most importantly, we'll always have the best interests of you, the client, at heart.