Entering the rental market as a landlord is a great way to make additional income and increase your net worth.
Not only will we guide you on the best buy to let mortgage to suit your needs, but we’ll also help you plan for the future and give you the important information you need to maintain your property or build a portfolio.
A buy to let property can be a fantastic investment.
You can supplement your income by receiving monthly rent from your tenant. Even better, you will benefit from any increase in the property’s value. By making small, smart home improvements, you can grow your equity which can be released later or received if you decide to sell.
Purchasing your first buy to let property should be a rewarding, exciting experience. We make it our mission to provide a smooth, enjoyable process.
As you can imagine, the requirements are a little different to a residential mortgage. We always look at the bigger picture, giving you the best type of mortgage available and making sure your investment is as lucrative as possible.
If you have any current rental properties, our advisors can also assess these to make sure they are reaching their maximum performance and that they’re on the most suitable mortgage products.
On the other hand, you may be looking to rent out your current home to purchase a new one. By using Let to Buy, you will replace your residential mortgage with a Buy to Let and secure a new residential mortgage on your new home.
If you need to release equity from your property in order to fund your new residential purchase or the deposit, then that’s certainly something we will assist with.
Choosing this route will allow you to retain an investment property alongside buying your new home. It’s a win, win situation.
Given recent tax changes, it could be far more lucrative to purchase your Buy to let property in a limited company.
We recommend that you seek independent tax advice when considering the tax implications however we are more than happy talk you through all the limited company mortgage options available.
If you own four or more mortgaged, buy to let properties, you are known as a portfolio landlord. There is a range of specialised products available for you which can help to increase your rental yield or grow your portfolio further.
Our team has years of knowledge in this area so whether you are already a portfolio landlord or plan on becoming one soon, we’ll get you to where you want to be.
There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1%, but a typical fee is £495 depending on your circumstances.
Lendese have access to thousands of mortgage deals, including many exclusive deals not available elsewhere, along with specialist lenders who can assist with unique situations.
In a simple answer, no. Buy to let mortgages are purely designed for landlords who plan to let the property out
Unfortunately not. Shared ownership is only available for buyers who plan to reside in the property
Although we recommend a 25% deposit in line with industry-standard, there are lenders we have access to who will consider a 20% deposit or sometimes less
As with a BTL, although we recommend a 25% deposit in line with industry-standard, there are lenders we have access to who will consider a 20% deposit or sometimes less
Yes you can. Lenders who offer this do treat affordability slightly differently however our advisers are well aware of this and will be able to guide you.
Every lenders property criteria is different however be assured that if there is a lender out there for the property, we will find them.
Although Buy To Let & Let To Buy mortgages require a larger deposit, when it comes to interests rates and associated costs, they are pretty similar to residential mortgages.
The main way in which they differ is the criteria around whether the mortgage is to be repayment or interest only. Due to lenders allowing interest only, historically, landlords put their buy to let mortgages on to interest-only which allows them to maximise the rental income received.
The aim of a protection policy is to ensure that should the worst happen, you or your family can remain in your home whether that be as a result of the mortgage being repaid or assistance with the monthly mortgage payments.
There are plenty of different policies which can ensure this so click the link below to find out more.
