If you are planning to purchase a property which will be let out to tenants, you should arrange a buy-to-let mortgage, or investment mortgage. With an increasing number of people choosing to invest in property as a rewarding way to boost their finances and secure a good fund of money for their retirement, there are now a number of buy to let mortgage deals available from a range of different lenders. We have designed our service to make it easier to find the right mortgage for your specific requirements, whether that is a special offer mortgage deal, or a fixed or variable rate option.
You can trust our team to advise on the most suitable mortgage. With many lenders assessing buy-to-let mortgages based on the earning potential of a rental property, this advice can prove invaluable when you are looking to organise a mortgage.
To qualify for a buy-to-let mortgage, you will need to meet certain criteria. You will be required to place a deposit, which is often larger than the deposit required for a conventional mortgage. This figure is likely to be 15-25% of the property’s value.
In addition to this, the predicted rental income of your property must be greater than your mortgage repayments by a certain percentage to ensure that you will be able to make your repayments. Your lender will also want to establish that the property you have chosen is a sound long-term investment.
To receive the advice that you need to select the right buy to let mortgage, contact The Mortgage Centres today, or visit us in branch to discuss your requirements.