Let To Buy Mortgage Lenders

Clayton Said:

I have a Buy To Let mortgage on a fixed rate which is due to expire soon. Any suggestions?

We Answered:

Yes you can still remortgage on a buy to let mortgage.

Most buy to let mortgages, as the name suggests, are designed to look at the rental returns and not your salary. You can even get a buy to let mortgage without certification (self cert) though there are now less options available than a couple of years ago and the lending rates reflect this.

If you don't have a long term tenant, I would carefully consider whether you can make this work? Many Buy-to-let investors are already starting to feel their fingers burning.

Maria Said:

Help ( Buy to let mortgage)?

We Answered:

yes u can still get BTL mortgages, but the 'good' deals are harder to find.

forget about releasing the equity, and aim to pay off as much of the mortgage as you can.

Allen Said:

I live in england and looking to get into buy-to-let. My father has kindly offered to help.?

We Answered:

WHO CARES, JUST ACT LIKE U KNOW

Eddie Said:

Buy to let?

We Answered:

The basic answer is yes. Of course the mortgage company want to know your income and whether you are paying a mortgage on your residential property, but they base the lending decision on a buy-to-let mortgage on the amount of rental income the buy-to-let property can expect.
I have 5 buy-to-let mortgages and could not afford more than one on a multiple of my income.

Miguel Said:

If i rent my sole property do i need a buy to let mortgage?if not what is the best interest only mortgage?

We Answered:

£2500 fee (on top of whatever fee the mortgage company charges ?) is outrageous** UNLESS they can get your a better deal than any you find yourself ..

So do some shopping around .. there are plenty of 'financial comparison' sites that will point you at current mortgage suppliers 'best offers' ..

NB. Buy to Let interest rates will be higher than 'owner occupier' .. so it sounds like you want a 1 year fixed deal ... so you can re-mortgage at a lower rate when you move back in .. this would be most unusual (2 year is normally the minimium ..) .. and don't forget the mortgage companies fees

** PS the brokers £2,500 fee should be factored into your calculations as part of the year 1 payments .. and you should spreadsheet the overall costs for whatever deal minimum 'lock-in' time (and don't forget to include early redemption penalty etc. if you re-mortgage during a lock-in period).

Discuss It!