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BUY TO LET MORTGAGES BASED ON RENTAL INCOME we no longer arrange buy to let mortgages as at October 2009.

Our buy to let schemes are self financing by allowing the rent to finance the mortgage repayments.
This is now the most popular way of financing rental based investment properties and property portfolios. We can arrange mortgages on a single property or up to 10.

All schemes will consider credit history though and how any current mortgage payments have been conducted.

Please be aware that lenders no longer accept builder incentives as deposit in buy to let mortgages.

Generally speaking there is a simple formula to see if the rent will cover the mortgage payments as follows.
IF YOU KNOW THE MORTGAGE PAYMENT MULTIPLY BY 125% AND THAT IS HOW MUCH RENT WILL BE REQUIRED TO SERVICE THE MORTGAGE. THIS CAN BE BASED ON INTEREST ONLY

We have schemes that are based on 100% to 125% mortgage/rent cover. no adverse history though. The better rates are based on 75% loan to value and 125% rental cover

If the rental value does not work out your surplus income can be taken into account. Enquire now to be sure.

Buy to let mortgages also apply to a remortgage so you can let out your current property, raise the deposit and buy another for occupation. This is normally known as let to buy. You can remortgage your current buy to let to raise capital for most purposes.

If you are thinking about becoming a landlord we can help in two ways. Firstly we can remortgage your current property to provide you with the necessary deposit then arrange a buy to let mortgage for you. Just complete the enquiry form and we will come back to you with a firm proposal.
Buy to let mortgages are not regulated by the Financial Services Authority.

Click on the following topics for helpful information, that could help you get your mortgage or remortgage

   adverse credit
   shared ownership
   self employed
   buy 2 let
   no age limit mortgages
   items required list

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