Whether you’re joining the buy-to-let market or you’re a landlord looking to expand your portfolio in Scunthorpe, you want to know you’re making the right mortgage decisions.
Buying your first home can be a little bit daunting, but we’re here to help with all the challenges of finding your perfect place.
Looking for a better mortgage deal? Or to release some of the equity in your home? The process is often not as easy as it first appears.
Thinking of selling your existing property and moving to a new home? It’s important that you try and budget accurately. Find out why.
This can be one of the popular mortgage options available for those wishing to invest in the residential & rental property.
For those looking to take out a buy-to-let mortgage under the following conditions:
Buying a property with the intention of renting it out is more challenging than an ordinary mortgage. It has some key differences, such as…
The kind of mortgages that insurance brokers and banks offer to consumers for buy-to-let investments is subject to the same regulations as those covering residential housing.
The maximum you can borrow is linked to the income amount projected from your rental property.
Lenders typically need the rental income to be 25–30% higher than your mortgage payment.
To figure out what renters might expect to spend on rent, try talking to professionals in the tenant market or find median pricing for houses in your area.
Most big banks and a few other institutions offer buy-to-let mortgages.
You should inquire about a buy-to-let mortgage with your local broker. They will be able to determine the best fit for you before applying.
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