Buy To Let Mortgages
Some relevant keypoints are detailed below, however, the best way to find the right Buy to Let mortgage for your circumstances is to call us today and speak to one of our qualified advisers to discuss your requirements further. Cade & Co Independent Financial Services will charge no upfront fees and will search the whole market for the most suitable deal for you.
If you are a First Time Landlord we can help with advice on taxation, and the likely costs involved with letting a property.
You can download the Inland Revenue Guide "Taxation of Rents" from http://www.hmrc.gov.uk/manuals/pimmanual/index.htm#top
If you have an existing portfolio of rental property you could benefit from a review both to establish that your mortgages are on the best rates available to you and to ensure that your plans are on track. This can be maximising your income now for professional landlords to paying off your mortgages to have available assets when you retire.
You can remortgage an existing Buy To Let either to raise money or to reduce interest rates. Many lenders now offer a free legal service and free survey fees on remortgages.
Points to note:
The maximum loan that can be achieved is equivalent to 75% of the value of the property.
In most cases lenders expect to see the rental income covering the interest only mortgage at 125% (i.e. if your mortgage repayment is £100 a month, the rental income must be in excess of £125 per month). Recently some lenders will consider higher multiples.
Buy to Let mortgages are generally assesed on the expected rental income of the property, however in some cases your salary will be taken into account depending on the individual lenders requirements.
All types of loans are available for Buy to Let customers including Interest Only, Repayment and Flexible
Email us to get a free no obligation quick quote, or call one of our qualified advisers on 01604 832932 who will be able to assist you further.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
The Financial Services Authority does not regulate all forms of Buy To Let Mortgages.