Buy to let mortgage
Buy-to-let mortgages and properties have become increasingly popular
as investments in the UK over recent years. With average returns
often in excess of 10%, these investments can reward investors with
fairly high returns, for what is considered a lower risk investment,
compared to investing in the stock market. Better legal protection
for landlords has made buying a property to let out more attractive.
Also, the upward trend of property prices over recent years has
meant that many buy-to-let mortgage investors have had the extra
bonus of a much higher value property should they wish to sell their
property.
Buy-to-let mortgages were created for existing homeowner who want
to buy a property for the purpose of letting it out i.e. not their
primary residence.
There is very little difference between buy-to-let mortgages and
any other type of home loans or mortgages. The choice of rates,
repayment vehicles, varying product features and a wide choice is
the same as with a regular mortgage. As a general guide, bearing
in mind the semi-commercial nature of this type of loan, lenders
will normally only lend 75% or 80% of the property price - this
means that a greater portion of the value of the property will have
to be paid as a deposit. The lender may also specify requirements
regarding length of letting terms, and minimal rental income, as
a percentage of the property value.
Although it is not possible to obtain tax relief for buy-to-let-mortgages,
one can offset interest payments on the mortgage against tax on
rental income, along with other expenses such as agents' fees and
maintenance costs.
We are specialists in arranging buy-to-let mortgages. We can also
obtain buy-to-let mortgages for people with an adverse credit history
or self-employed people who have an irregular income or less than
3 years accounts.
Click on the link below for a fast, free buy-to-let mortgage quote.
Click
here for buy to let mortgage quote
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