Buy to let mortgage advice

 

For new landlords or those looking to grow their existing portfolio

Buy to let mortgages for first time landlords

Whether you are looking to purchase a buy to let property as a means of extra income, or as a means of investment and capital growth, with access to the whole of the market I can search for a mortgage provider to help you achieve your objectives.

It’s important before committing to any particular property to have thoroughly researched the mortgage market as lenders have different criteria than that for those looking to purchase a home to live in.

Affordability is assessed differently and whilst some lenders will consider this based purely on the expected rental income received, many lenders will seek to ensure you have a minimum income each year to cover for any periods of non-tenancy.

The FCA do not regulate some aspects of buy to let mortgages. 

Can I get a buy to let mortgage as a first-time buyer?

Yes, there are lenders available that will consider first time landlords, even where you are also a first-time buyer.

Will I need a bigger deposit?

Typically, most mortgage lenders will require a deposit of 25%, though this can vary between different lenders.

Can I take out an interest only mortgage?

Yes, for buy to let mortgages you can take out an interest only repayment method. There are of course risks involved with this, especially if you only have one property to spread that risk over, such as house price reductions. The amount you borrow will not reduce and so you will remain responsible for the full original loan amount at the end of the mortgage term.

Buy to let mortgages for experienced or portfolio landlords

As an experienced landlord you may already have a good understanding of the mortgage and legal requirements to owning buy to let properties, but find you want someone to work with you to ensure your portfolio remains on the most competitive terms.

I work with my existing landlords to ensure their entire suite of properties and mortgages remain on the right deals for them. I take a pro-active approach to managing their mortgage renewals ensuring they never revert to higher standard variable rate mortgages, which in turn means their portfolios remain as profitable as possible.

Many lenders have limitations on the number of properties you can have mortgaged with them, or limits on the size of the total borrowing you have with them, and so as your portfolio grows it can be beneficial to have a mortgage advisor available with access to the whole of the market so you can keep your borrowing diversified.

Whether you are looking to remortgage one or more of your existing properties or take out a new mortgage to purchase an additional buy to let property, get in touch to discuss your options from across the whole of the market.