Buy to Let Mortgage Advice
This type of mortgage is taken out if the property the mortgage is secured on is being let or rented. As a rule you will need a deposit of 25% to secure a buy to let mortgage and the amount you can borrow is normally calculated based on a combination of your income and the rental income of the property.
Interest rates and arrangement fees tend to be higher on buy to let mortgages.
If you are thinking of taking out a buy to let mortgage, whether for the first time or an experienced landlord, then it is important to make sure it is the right thing for you to do.
Please be aware that from 6 April 2016 higher rates of Stamp Duty Land Tax will be applied to the purchase of additional residential and non-residential properties.
For further information and advice or to arrange a consultation please contact us.
MOST FORMS OF BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FCA.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT
FOR MORTGAGES WE ARE PAID BY A COMBINATION OF COMMISSION AND FEES, OUR TYPICAL FEE IS £395.