Buy to Let Mortgages

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A buy-to-let mortgage (also known as an investment mortgage) is designed for borrowers who want to let their property out to a third party (i.e. tenants).

More and more people are investing in property as a long-term opportunity to make profitable returns, and as a way of securing finance for their retirement.

There are now plenty of competitive buy to let mortgage deals around that are specifically aimed at the buy-to-let market, ranging from special offer buy to let mortgage deals to fixed and variable rate options.

In addition, mortgage lenders will often assess buy-to-let mortgages on the earning potential of the property (i.e. the rental income) as well as normal income.

Are you ready for a Buy-to-Let mortgage?

When you take out a buy-to-let mortgage, you will be expected to meet certain criteria:

• You will be required to put down a deposit and this will be typically larger than for a standard residential mortgage - it will likely be a minimum of 20% of the property's value.
• Your expected rental income must exceed your mortgage repayments by a certain percentage - for example, your lender may require a rental income of  up to 130% of your monthly mortgage payments.
• Your lender will also want to establish whether the property you are buying is a good long-term investment.

Your property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

There may be a fee for mortgage advice, this is subject to a minimum of 0.5% of the loan amount or £395, whichever is the greater. The Total fee shall not exceed 2% of the loan

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Top Mortgage Solutions is an Appointed Representative of Mortgage Next Network Limited which is authorised and regulated by Financial Services Authority in respect of mortgage and insurance mediation activities only. Mortgage Next Network Limited is entered on the FSA register (http://www.fsa.gov.uk)
under reference 300866.

Buy to Let mortgage Sussex, Bexhill, Eastbourne, Hastings, Brighton