Buy to Let
An investment mortgage, designed for the individual wishing to invest long term. The lender provides a mortgage on the basis the mortgage will be paid by the tenant. Due to this, on many occasions your own income is not the consideration.
What is required to get a Buy To Let mortgage?
Dependant on the lender, the requirement is between 20 & 30% deposit
Some lenders require a set level of income for you to qualify for a mortgage. Some lenders only require that the rental is sufficient to cover the monthly mortgage payment.
The lender requires that the property itself (not just you as the investor) is a good risk for them, both in terms of the rental the property can produce, and in terms of the condition of the building itself.
At the Mortgage Specialist we facilitate mortgages for both Individuals & Limited Companies
Let to Buy
This is when the individual leaves their present residential property behind as the investment, and moves on to a new residential property.
Less lenders entertain this type of mortgage so access to the whole UK market becomes absolutely essential, even with regard to the residential mortgage on your new home, as many residential lenders now have objections to the idea of Let to Buy.
Buy to Let Mortgages are not regulated by the Financial Conduct Authority
Many however do not, so please get in touch to discuss your options.