Buy-to-Let in recent years has become an increasingly popular mortgage option for those wishing to invest in residential rental property, either to supplement their income or to invest for the future.
However, some potential investors are put off entering the buy-to-let market due to the popular perception that buy-to-let mortgages are expensive.
This popular misconception no longer holds true as lenders today are now offering increasingly competitive rates, which in many cases are not significantly higher than those on standard residential mortgages.
Landlords also have a choice between interest only and repayment mortgages. However, buy-to-let mortgages do differ in several important ways from standard mortgages.
A major difference is the criteria lenders apply when considering approving a loan. Buy-to-let mortgage lenders base their lending decisions generally on whether or not the likely rental income from the property will cover the mortgage interest payments. The personal income for the borrower is less of an issue.
In order to secure finance, rental income is typically needed to be 125% - 145% of the mortgage repayment.
What can we offer you?
As we have access to a wide range of lenders, combined with the ability to negotiate exclusive deals with some lenders, we can offer buy-to-let mortgages with some special features:
- From as little as 25% deposit required
- No minimum personal income required
- Buy-to-let remortgage packages
- Ltd company buy-to-lets
- Clients with adverse credit can be accepted in some cases (The overall cost for comparison is 8.7% APR for customers who may have their access to credit restricted).
- Buy-to-lets for large portfolios and professional landlord schemes
Whatever your mortgage requirements, we’re certain we can find the mortgage for you.
So if you are planning to invest in buy-to-let, let out your current house or remortgage an existing buy-to-let property, talk to us today. Call us on 01225 719043 or use the 'Contact Us' page and we'll get in touch at a convenient time for you.
Buy-to-let mortgages are NOT regulated by the Financial Conduct Authority.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independant ombudsman. Our advice is covered under the Financial Ombudsman Service (http://www.financial-ombudsman.org.uk/consumer/complaints.htm). You may be able to submit a claim through the EU Online Dispute Resolution Platform (https://webgate.ec.europa.eu/odr/main/?event=main.home.show if you live outside the United Kingdom or if you prefer not to deal directly with the Financial Ombudsman Service.)
The overall cost for comparison is 8.7% APR for customers who may have their access to credit restricted.
FX Mortgages is an appointed representative of Mortgage Intelligence Ltd which is authorised and regulated by Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.