Buy – To – Let Mortgages ( BTL Mortgages)
If you are looking for the right buy to let mortgage deals and maybe have some bad credit then talk to us. We have been working in the buy to let mortgage market for many years providing great buy to let mortgage deals
Buy To Let Mortgages ( BTL Mortgages) even with bad credit can be arranged either as a combination of your own income and the rental income or we can arrange an interest only BTL mortgage based purely on the rental income only.
BTL mortgages generally require the mortgage based on rental income to equal or exceed the interest only payment of the BTL mortgage. Typical Buy to let mortgage lenders would look to cover this by 120% of the pay rate.
Buy To Let Mortgages ( BTL Mortgages ) are NOT regulated by the Financial Services Authority.
Buy To Let Mortgage – bad credit – Caution !
The mortgage valuation will include an estimate of the rental income of your chosen property on an unfurnished basis. Buy to Let can be a huge investment and like all types of investment it carries some risks. Our Mortgage Advisers can help you understand the financial commitments involved, but can’t offer you advice on whether this type of investment is right for you based on your individual financial circumstances.
Please remember there are no guarantees as to what rental income your Buy to Let property will generate and whether it will rise in value over the years.
We can only advise on the mortgages it offers. We cannot offer advice on whether Buy to Let is the right form of investment for you. Please remember you will still have to pay any Buy To Let Mortgage payment whether the property is rented out or not.
Buy To Let Mortgage Portfolio Lending
If you have multiple BTL properties on various lenders Buy To Let Mortgages ( BTL Mortgages) then please talk to us about BTL mortgage portfolio lending.
Most BTL mortgages dont like bad credit but we have a number of lenders that will accept some bad credit for BTL mortgages – are arranged on an interest only basis, this is because the landlord can deduct the interest only portion of the buy to let mortgage as a deductable expense before declaring for income tax purposes.
Just a few areas in which we can help you:
- Buy To Let Mortgages — interest only
- Buy To Let Mortgages — rental income only
- BTL Portfolio lending
Enquire now about Buy To Let Mortgages
Buy to Let Mortgage ?
Things to consider before you Buy to Let?
Buying a rental property as a Buy to Let investment is very different from finding a home. Remember, Buy to Let properties are a business decision which you should treat as an investment, take care not to get carried away imagining yourself living in the house. Be objective and focus on who is likely to rent the property you are looking to buy.
To help you decide on the right type of Buy to Let rental property, here are five handy tips for you to review when you view any property;
1. What type of tenant are you looking for? Think carefully about the type of tenant you want to attract e.g. Young professionals, families or sharers. Considering this issue may help you to decide on the type of property you purchase and its location. Remember that Buy to Let properties have to be let on an Assured Shorthold Tenancy basis.
2. Where’s the best area ? Do your research and visit lots of different areas. Location is an important consideration and will often determine the type of tenant you will let to. Don’t necessarily buy locally to your home. Think about prosperous towns which might attract a higher demand for rental property.
3. What’s the location like? Think about transport links, parking, shops, schools and other local facilities – pick the brains of letting agents for information about areas where buy to let properties may be easier to rent.
4. What state is the property in? If you’re buying a property which needs improvements, then restrictions could be placed on the amount you can borrow on your Buy to Let mortgage and it could also delay how quickly you can let the property out. Can you afford the Buy to let mortgage mortgage ( BTL Mortgages) payments during the renovation period?
5. How much rent are you likely to receive? Do your homework before buying a buy to let investment property – talk to local letting agents, check the local press to find out comparable rental values.