MoneySavingCentre - Buy To Let Investment Mortgages

The concept of buy-to-let is now well established in the market and from just a couple of products on offer over a decade back there are now many available to the budding Rigsby! The buy-to-let market can be an attractive option for careful investors as net immigration, later first-time buyer purchases and the trend towards smaller households continues to drive the market. Buy to Let Mortgages are different from a conventional mortgage as they allow the rental revenue to be considered as income when considering the ability of the buyer to meet the monthly payments. Interest rates are likely to be slightly higher than those which a standard mortgage agreement attracts and the deposit required tends to be greater. If you want to get involved – or are looking at purchasing further properties – we could help you.

for further information on buy to let mortgages call free now 0800 953 0612 or 01942 322260 10 am to 10 pm Seven days a week alternatively CLICK HERE!

Top Tips

• Research where you intend to buy. Look for areas of high economic activity, but where property prices have not risen as much as elsewhere.
• Talk to letting agents about the local market and how much rent you could expect on different properties.
• An interest-only mortgage can be a tax efficient route, as you offset interest against tax.
• Lenders will normally expect rental income to be at least 125 per cent of the mortgage repayments (although one or two may accept 100%).
• You will normally only be able to borrow up to 80-85 per cent of the property’s value.
• Don’t overstretch yourself. Keep an emergency fund of three months’ rental income to pay the bills if the property is empty.
• Take additional advice from an accountant.
• Finally, buy a property with strong rental potential, and not what you find attractive yourself!

For further information without obligation click here to complete our online enquiry form

Your property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

Wigan Mortgage Bureau is an introducer to Jonathon Mann for the purpose of mortgage introductions only.