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4 steps for finding the best mortgage for you...
Getting to know you...
We'll arrange an appointment at a time that suits you! Most of our customers choose telephone or virtual appointments, but we're more than happy to arrange face-to-face appointments.
We search the whole of market.
Next, we’ll search our panel of lenders for the right mortgage. We’re a whole of market broker, which means we’re not tied to one particular lender and have access to the best products available.
Recommendation...
Having found the right mortgage for you, we’ll talk you through it and explain all the features and benefits as well as how it meets your needs.
With you every step of the way!
We'll be with you all the way through the process – from application to completion. Here for whatever you need, whenever you need it.
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If you’ve got questions, we’ve got answers…
A buy-to-let mortgage is a type of mortgage used to purchase a property for the sole purpose of renting it out, rather than living in it. The borrower receives rental income from tenants, which is used to pay off the mortgage. This type of mortgage typically requires a larger deposit and the lender will assess the potential rental income to ensure it covers the monthly mortgage payments.
Investing in property and renting it out as an investment is a popular choice for many, and buy-to-let mortgages are designed specifically for this purpose. Regardless of whether you’re a first-time landlord or an experienced investor, these mortgages can be suitable for you. However, keep in mind that buy-to-let mortgages usually require a higher deposit compared to regular residential mortgages, usually over 25%.
When it comes to their structure, buy-to-let mortgages are similar to traditional mortgages. However, buy-to-let mortgages usually operate on an interest-only basis. This means you only pay the interest on the loan each month, rather than paying both the interest and the balance. Typically, the balance of the mortgage is repaid when the property is sold.
The lending amount you’re eligible for depends on the value of the property and the projected rental income. Typically, lenders require the anticipated rental income to be at least 125% of your monthly interest payments. For instance, if your interest payments are £400 per month, they’d expect you to charge around £500 per month in rent.
Buy-to-Let mortgages are designed specifically for properties that will be rented out. If you’re looking to take out a mortgage for a property that you intend to live in, then a residential mortgage would be more appropriate.
The limit on the number of buy-to-let mortgages or the total amount of borrowing varies between lenders. Our advisors will take into account any other properties you own and find a suitable lender that matches your circumstances.