Investment Property Mortgage In Britain
Need An Investment Property Mortgage In Britain? Your Free Guide
With an investment property mortgage in Britain, there is a wide variation in the facilities that landlords can expect. One investment property mortgage might be aimed at first time landlords. These may have high loan to value ratios available, cash back and other incentives to encourage new landlords to take their first investment property mortgage in Britain. Other BTL mortgages might be aimed at professionals and may have different incentives, as professional landlords will have different requirements.
With an investment property mortgage, many deals are aimed at new or semi-professional landlords, with only a small number of properties. Many BTL mortgage deals allow landlords to have no more than three properties with a particular lender, though some may go to as many as ten.
However, there are many landlords for whom this is their full time occupation and these professional landlords may need more facilities from an investment property mortgage. Professional landlords may need to be able to manage large property portfolios in a flexible way and to have access to funds when new opportunities arise. And many landlords would prefer the convenience of having their investment property mortgage in Britain with a single lender who offers these advantages.
Some lenders who offer an investment property mortgage in Britain have taken up the challenge of meeting the needs of professional landlords. The Woolwich, for example, in September 2008 has products that are aimed at landlords with more than three residential investment properties or properties with portfolios worth upto £2 million.
Investment Mortgage Facilities
So, what kind of facilities might landlords get with a professional investment mortgage in Britain? One facility that most landlords would find useful is a revolving credit facility secured on their property portfolio. This means that they would have money available to respond to new opportunities. Including this sort of facility with an investment property mortgage would mean that landlords could buy property quickly at auctions, for example. In an auction setting, it is essential to be able to respond quickly to competitive bidding and to be able to pay up immediately once the bid has been won.
Having a credit facility would also mean that landlords could refurbish new property immediately, rather than having to wait for additional credit. This could mean cutting down on void period, which is good news for repaying an investment property mortgage in Britain.
There are trade-offs to be made with a investment property mortgage in Britain aimed at professionals. For example, one lenders professional BTL mortgage range will differ from anothers with the loan to values ranging from 50% to 85%. However, with an investment property mortgage in Britain, there are lenders that will allow aggregate borrowing. This means that in some cases professional landlords can acquire a new property without having to spend any money. This is a good reason to consider a professional investment property mortgage in Britain.
