Buy-to-Let in recent years has become an increasingly popular mortgage option for those wishing to invest in residential rental property.
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.
Buy-to-Let - the story today
This popular misconception no longer holds true as the costs are generally not significantly higher than those of a standard mortgage although they will be variations in the costs for non-standard buy to let such as "house in multiple occupation" (HMO).
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 decisions generally on whether or not to approve a loan on the likely rental income from the property and not the applicants' income.
In order to secure finance, rental income is typically needed to be 125% and 145% of a notional mortgage rate of 5.5% , although in some circumstances as little as 125% rental coverage is available.
What can we offer you?
As we have access to thousands of mortgages, the ability to negotiate exclusive deals with a huge range of lenders, we can offer a wide range of buy-to-let mortgages with some special features:
- From as little as 15% deposit required
- First time buyers buy-to-let products available
- No minimum personal income required
- Buy-to-let remortgage packages, including free fee's
- Ltd company buy-to-lets
- Clients with adverse credit can be accepted
- 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, move your mortgage to, or remortgaging an existing buy-to-let property, talk to us today.
Give us a call on 07771 916374 for more information or alternatively complete our contact form and we'll contact you.
SWIFS is a trading name of Kevin Langshaw who is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under 305330 in respect of mortgage, insurance and consumer credit mediation activities only.
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 independent Ombudsman. Our advice is covered under the Financial Ombudsman Service (https://www.financial-ombudsman.org.uk/consumer/complaints.htm).
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.