The buy-to-let market is continuously evolving, which is why it’s crucial to seek advice from an advisor who is up-to-date with the latest changes.
Investing in buy-to-let properties can be a profitable venture, but it requires a different type of mortgage than a standard residential mortgage. A buy-to-let mortgage is designed for individuals who are purchasing a property with the intention of renting it out to tenants.
So, what sets buy-to-let mortgages apart from standard residential mortgages? First, interest rates on buy-to-let mortgages are usually higher than those on residential mortgages. Second, you will need a larger deposit when applying for a buy-to-let mortgage. While you can purchase a residential property with as little as a 5% deposit, most buy-to-let lenders will require a minimum deposit of 15% of the property’s value.
If this is your first time considering a property investment, or you have an extensive property portfolio we can help you, investing in buy-to-let properties can be a profitable venture, but it requires a different type of mortgage than a standard residential mortgage.
A buy-to-let mortgage is designed for individuals who are purchasing a property with the intention of renting it out to tenants, we have helped hundreds of landlords over the years secure the most suitable products to help maximise their rental yields.
So, what sets buy-to-let mortgages apart from standard residential mortgages? First, interest rates on buy-to-let mortgages are usually higher than those on residential mortgages. Second, you will need a larger deposit when applying for a buy-to-let mortgage. While you can purchase a residential property with as little as a 5% deposit, most buy-to-let lenders will require a minimum deposit of 15% of the property’s value.
Buy to lets have the potential to provide a regular income source which can be used to grow your property portfolio or provide an income source.
When applying for a buy-to-let mortgage, the lender will look at how much rent you could potentially charge for the property, as well as your personal income. The amount you can borrow is directly linked to the expected rental income, so it’s important to have a clear idea of the potential rental yield before making an application.
At Wiser Mortgage Advice, we can help you navigate the complexities of buy-to-let mortgages. Our expert advisors will guide you through the process, from finding the right product to ensuring you meet the eligibility criteria. With our help, you can secure the funding you need to build a profitable buy-to-let portfolio.
I find the entire mortgage process confusing and long winded. Dean explains and handles things in a very simplistic way, meaning that the hard work is done for me. He is personable and always available no matter how many times I need to contact him to ask annoying questions!
I have used Dean’s Services for several years now, and I am looking forward to working with him again in the future.
Dean sorted out our mortgage, home and life insurance for us and couldn’t fault him. Quick to respond and worked around us. Found us the best deals and rates. Took the stress of us and arranged everything for us and also was there anytime to contact sorb any questions. Lovely guy and made us laugh and had some banter. Will 100% recommend and will be using Dean again in the future for all our other re mortgages to come and any questions. Also must add very affordable. Thanks so much!
Would highly recommend Dean as a mortgage advisor. Explained everything really well, made sure we were happy with our choice and sorted out our insurances as well. The whole process and application was straightforward and easy with his help.
