Mortgaging / Financing
Financing for buy-to-lets is quite different to that of normal residential mortgages. Where lenders use use your annual income to calculate the amount they can lend with a residential mortgage, with buy-to-lets they actually take into account the annual rental income that is likely to be achieved on your purchase.
Buying a property let can benefit the private landlord in two ways. Firstly, it can provide a stream of income. Secondly, many buy-to-let landlords purchase property because of the potential for long term accumulation of capital growth.
Rent Potential - the decision as to whether or not a mortgage will be offered is usually based on the rent you will earn as well as your income. In some cases, your income is not ever considered.
Interest Rate - buy-to-let mortgages are available at rates which are just as attractive and competitive as residential mortgages.
Existing Equity - many people access the equity in their existing properties to enter the 'buy to let' market - we are able to advise you.
Portfolio Building - buying a number of properties enables you to benefit from greater capital growth - we are able to advise on the suitability of this method of -buy-to-let for you and your circumstances.
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