Buy To Let Mortgages Explained

Buy To Let Mortgages Explained

A Buy to Let mortgage is a specialist type of mortgage not offered by every lender, designed to help people invest in property.

A Buy to Let mortgage generally requires a larger deposit than a regular mortgage due to their investment nature and they are not available for property that you intend to live in. Interest rates on a Buy to Let mortgage are generally slightly higher when compared to traditional mortgages but as always are subject to individual circumstances.

When considering a Buy to Let mortgage you will need to establish that the rental income received from the property will cover the interest payments on the mortgage with a little extra to spare (generally the rental income will need to be around 125% of the mortgage payment).

Some lenders allow an element of personal income to be used to make up any shortfall so whether you are an experienced landlord or purchasing a Buy to Let property for the first time, it`s worth talking to one of our Buy to Let experts who will be able to explain all the considerations in more detail and assist you in finding the best deal to meet your needs.

Why people invest in Buy to Let property

– Buy to Let can often provide a better return than the low rates currently available on most saving and deposit accounts

– Buy to Let can be used as an alternative to a pension to help provide funds for retirement

– Buy to Let is a fairly straight forward way to invest in property, which has historically provided excellent returns

– The demand for Buy to Let is increasing because people have been unable to buy their own home due to strict criteria from high street lenders when considering residential mortgages

– A variety of life changing events and a shift in general lifestyles have increased the number of tenants looking for short term lets, providing Buy to Let investors with an excellent opportunity

Whether you are new to Buy to Let, interested in letting to buy, or you`re looking for a better deal, Caboodle can help you find the best Buy to Let mortgage.

You can also find a selection of the best Buy to Let mortgage deals currently available in the market on our “Best Buy” Tables. You can also use our “Mortgage Finder” tool to personalise your search.

 

If you are interested in a Buy to Let mortgage then why not call one of our experts today on 0800 151 2407 or 0121 308 9114. Alternatively complete the short online enquiry form to request a call back at no obligation.

We can often arrange face-to-face appointments in Mere Green, Four Oaks, Sutton Coldfield, Lichfield, Tamworth, Burton, Birmingham, Walsall, West Bromwich and many other surrounding areas of Staffordshire and the West Midlands. Alternatively we can make arrangements for you to visit our offices to discuss your requirements in more detail.

 

THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE SOME TYPES OF BUY TO LET AND INVESTMENT MORTGAGES.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. CONSOLIDATING DEBTS MAY INCREASE THE TERM AND TOTAL AMOUNT PAYABLE.

Your initial consultation is free and you are under no obligation to proceed with a mortgage we recommend. There will be a fee for mortgage advice. The exact fee will depend on your circumstances and may be reduced depending on the loan amount and any commission we receive from the lender. It is estimated that the fee will be £595, but it may range from £495 to 1% of the amount you borrow. The fee is only payable on completion and can normally be added to the mortgage. This will be discussed and agreed with you before you make an application. Please ask for a personalised illustration.

Secured loan rates from 3.95% APRC, although we have plans available up to 29.9% APRC which allow us to assist customers with the most severe credit problems. The overall cost for comparison is 9.2% APRC. For secured loans a broker fee up to 10% of the loan amount borrowed may be payable on successful completion. A lender fee may also apply. The actual APRC available will depend on your circumstances. All loans are subject to status. Please ask for a personalised illustration.

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

Caboodle Financial Services Ltd, registered in England at SQ2 House, 240b Lichfield Road, Four Oaks, Sutton Coldfield, West Midlands B74 2UD (number 08044670).
Caboodle Financial Services Ltd is an appointed representative of Pink Home Loans, Pink Home loans is a trading style of Advance Mortgage Funding Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 305008) for mortgage and non-investment insurance advice.
The Financial Conduct Authority does not regulate some forms of Buy to Let.

© 2014 Caboodle Financial Services Ltd