Specialist Finance for the Buy to Let and HMO Market
Are you buying a property you intend to rent out? Then you’ll need a Buy-To-Let mortgage.
In recent years the criteria for a buy-to-let has changed and some situations which were previously unworkable are now possible. Many landlords are amazed with the financial options available and the scenarios for which we can find a solution.
Thinking of purchasing a Buy to Let Property?
Buy-to-let mortgages work in much the same way as a standard domestic mortgage. However interest rates are typically higher than a standard rate and the deposit required and mortgage fees will also most likely be more (not always though). Our expertise in the market however enables us to source very competitive rates and even fee free deals.
The amount you can borrow when applying for a buy-to-let mortgage loan will essentially be linked to the amount of rental income the surveyor, appointed by the lender, thinks you could earn rather than your own income and expenditure. In recent months a lot of lenders have increased the rental income required to support a mortgage, however we have access to lenders that accept lower rental income.
Despite these differences you should never opt for a standard domestic mortgage if you intend to rent out a property; this is considered mortgage fraud.
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Multi-Let Property and HMOs
HMO and Multi let properties are becoming more popular becuase of the returns achieveable. They are however a more complex proposition to lenders and to arrange mortgage finance for these types of rental property requires a deep understanding of the market and what lenders restrictions are.
At Mortgage Style we have worked with many landlords operating these types of properties and have built up strong relationships with specialist lenders who look favourably on this kind of rental property. We have a number of exclusive deals available which are little known about but offer fantastic rates.
Limited company lending
With the recent changes to taxation for landlords a limited company mortgage has become a lot more attractive, we have access to many different options and often the deals being offered are no more expensive than a standard buy to let mortgage.
No one likes tax, but like death, it’s unavoidable. As property owners and landlords ourselves we have taken advantage of our own knowledge and professional partners to mitigate or reclaim certain taxes that are payable and we can offer the same to our clients.
Our accountancy partners specialise in property tax and this allows us to save our clients lots of money in this area.
More Help and Information As such we are the recommended mortgage brokers for * Property Investors Network for the Bristol & Exeter regions. We attend their monthly meetings and present to the investors attending on the latest schemes and deals & market briefing. See examples of our previous briefings here.
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So whether you are looking to purchase your first buy to let property, add to an existing portfolio or finance an HMO give our team a call on 01179 070 818 for further information and advice.
Please be aware that from 6 April 2016 higher rates of * Stamp Duty Land Tax will be applied to the purchase of additional residential and non-residential properties. Please follow the link below for further details:
*You are now departing from the regulated site of Mortgage style. Neither Mortgage Style nor Tenet Lime can be responsible for any content created and published solely by a third party outside our regulated site.