BUY TO LET MORTGAGES
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| Buy to Let has become very popular with the increase
in demand for rental property. Buy to Let schemes were created
for the benfit of existing homeowners who wanted to buy a second
property for the purpose of letting it out. Although they are
similar to other mortgages they are usually slightly more expensive
and may have conditions attached. |
| Buy to Let or investment mortgages
are easier than you may think. Although most High Street lenders
will not be interested in providing you with this type of mortgage,
we have access to several schemes that are available at competetive
interest rates. |
| The amount that you are able to borrow on a Buy
to Let mortgage is usually a maximum of 85% of the property value.
Some lenders may take into account the rent you will earn, as
well as your own income. It may be possible to raise some or all
of the deposit needed by considering a re-mortgage to your existing
property. |
| When preparing your own calcualtions don't forget
to take into account that you can offset the interest payments
on your mortgage against tax on rental income. You can also offset
agents' fees and maintenance costs. |
Although this may all seem a little confusing,
we are here to help and advise you throughout.
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