Buy to let Property Finance
Buy to let Property Finance
If its your investment - make it work for you not the lender!
Perhaps you have just found a property that you want to buy as an investment. You may want to use it as your main residence at some time in the future, but not yet - so you will put a tenant in for the time being. Or perhaps you already have a portfolio that you want to review - or even add to it.
It sounds easy, find a property, find a tenant and the mortgage will sort itself out - won't it?
True, if you have a standard property with a very good rental income and you only want a small mortgage - you have a large range of lenders to choose from. But which one is best for you? Just like your own house - there are so many different schemes, how do you know which is the best lender and product to suit your individual circumstances and needs?
But many properties do not fit nicely into the above category. It could be a flat in a high rise block, or in a good location, but above commercial premises. Maybe you are looking at several at auction to bid for - you may even want to buy a large house and convert it into several self contained flats - or flats with shared facilities. What about the rental income? How much can you get per month? Even if it covers mortgage interest, will this be enough to satisfy your lender?
Confused? It gets worse!
Every lender has different criteria for the individual - or Ltd company - and for the type of property they accept. They will apply different levels of advance based on valuation and will use a variety of calculations to arrive at the maximum funding based on the rental income (or maybe they will also talk your salary into account). Many will readily agree to interest only mortgages, while others require a repayment vehicle with it - or insist on monthly capital repayment as well.
Whether buying for the first time, restructuring or adding to your portfolio, you need to make sure you get the most from your investments.
If you have a few properties already then you may want to check you are getting the best from your current lender. If you have not reviewed them for two years then it is unlikely that you are making your investment properties work efficiently for you.
There may have been good reasons for selecting your current lender, or lenders, but do they still apply? Nearly every Buy To Let lender has changed products and criteria within the last three months - last months 'favourite' may now be old news.
A review cost nothing - at worst we confirm that you are one of the small minority who are getting the best from their portfolio.
Of course, its not all good news. Unfortunately, sometimes it goes wrong. Interest rates increase, yields level out or your tenants leave and you cannot quickly find a replacement. You are still responsible for the mortgage payments - even if the tenants do not pay you.
Act now, tackle the problem head-on. The solution may be with the current lender and only a phone call away. It may need another lender to step in and provide a more affordable facility.
If you need to finance any property investment you can call us today on 0845 6010153 or send us an email here or fill in our online application form and get fast pre-approval for your next investment. Which ever way you choose to contact us we will be happy to assist in any way we can. We specialise in Self Certification, Buy To Let and Adverse Credit mortgages and remortgages both residential and commercial. We offer the most competitive mortgage rates and insurances in the industry all backed up with our unique Guarantee.
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Make your Property Portfolio Work For YOU not YOUR LENDER Contact us Today for FREE Expert Advice!
PS. Whatever method of contact you choose you can rest assured that our expertise will be put to work on your behalf immediately. Our goal is to provide you with the right mortgage at the best rate whilst making the process of financing your next property as simple and stress free as possible!
