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Buy To Let Mortgage

The buy-to-let mortgage is used to finance the purchase of properties bought for rental purposes. For investment lending, banks are more demanding, so it is definitely worth using a broker. What do you need to know about buy to let mortgages?

The Buy to Let mortgage is aimed at people who want to buy a property in order to rent it out.
The Buy to Let mortgage is aimed at people who want to buy a property in order to rent it out.

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How does it work?

Buy to Let is a type of investment mortgage. With its help, you will be able to buy a rental property. Unfortunately, in order to obtain it, you will have to meet a number of conditions set by the bank. The amount you can borrow largely depends on the expected rental income.

Buy-to-let mortgage with interest only repayment

When opting for a buy to let investment mortgage, in many cases you will have a choice between interest only and capital & interest products. The main difference is that in the first case, you do not pay the capital part of your commitment, but only the interest. The second option of the facility operates on standard terms, that is, with the repayment of the last instalment, the bank loses any rights to your property. Which option should you choose and what are the advantages and disadvantages of both solutions? You can find out during a no-obligation and free consultation with an adviser from Extend Finance.

Buy to Let.
Buy to Let.

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Buy to Let mortgage through SPV

You can take out a Buy to Let mortgage not only for yourself, but also for an SPV (Special Purpose Vehicle). This is usually the case with property development projects, but if you have plenty of cash to put down, you may want to consider setting up a company to make money from renting out the properties.

Buying through a Limited Company (Ltd), as it were, formally separates you from the property you are buying, making your investment much safer. Obtaining a mortgage through a Ltd or SPV will not be difficult and our advisers will be happy to help you with this. Although it is still quite niche, it is definitely worth considering this form of investment as it allows you to reduce the risk associated with your investment and there is potential tax relief available.

Who is eligible for Buy to Let mortgage?

For Buy to Let mortgages, the most common requirements are:

  • An age of 18, or 21 if there are several applicants
  • The number of people applying cannot exceed four. Of course, you can also apply on your own or with a partner
  • The minimum deposit must be 20% or 25%. The higher it is, the more favourable the offer you will receive.
  • Some banks only offer Buy to Let mortgages to people who already own their own property. However, this is not a rigid rule.

You can find out more about Buy to Let mortgages on our blog and on the government website Moneyhelper

Rely on proven professionals

Are you looking to invest in a rental property and are searching for someone to help you through all the paperwork? You have come to the perfect place! Our mortgage advisors will be happy to answer all your questions, help you complete all the applications and select a product to suit your needs. With our help, buying a property in the UK for rent will be as easy as possible!

We can also help you with the property insurance your bank will require and advise you on choosing a good solicitor.

Our team is here to assist you. Contact us by completing the form below.

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Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.

Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it. Conveyancing services and some forms of Buy to Let mortgages are not regulated by the Financial Conduct Authority.

Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts
secured on it.

Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it. Conveyancing services are not regulated by the Financial Conduct Authority.

Extend Finance nor The Right Mortgage Limited can’t provide advice regarding Personal Pensions, Pension planning or investment planning advice. You must seek independent financial advice from a suitably qualified professional financial adviser who may charge you for advice.

Wills, Will writing, Trusts and Trust planning are not regulated by the Financial Conduct Authority.

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