Buy-to-let mortgage services
Buy-to-let – how to get the most from your investment
The key to making a buy-to-let venture work for you is finding the best possible mortgage deal. That’s why it’s so important to get the right advice – especially in today’s market.
While buy-to-let mortgages are similar to residential home loans, there are some very important differences that we can help you get to grips with.
For example, buy-to-let mortgages require a larger deposit than regular loans (typically 25%), and you’ll need to show the lender that the rent will cover your interest payments on the mortgage by at least 125% – in case the property stands empty for a while or needs maintenance. You should also set money aside for arrangement fees, which can be as much as £2,000.
Contact Mortgages Made Easy today for buy-to-let property advice in Leicester.
Sizing up the benefits of buy-to-let
On the bright side, buying a property to let out offers the appealing prospect of a potential rental income, plus the possibility of equity to unlock later if property values increase. In fact, the right investment can give you a gross return each year of between 5 and 10%. That’s well ahead of what any savings account will currently give you, albeit with more risk attached.
While average property prices across the UK have been flat in recent years, the market has recently shown encouraging signs of growth with rents on the increase. Acting quickly, with confidence, is the key for buy-to-let deals.
Get the right advice
Buy-to-let investors have the same mortgage options as other borrowers – whether to go for a fixed or discounted variable rate deal, for example. It’s also just as important that they identify the best possible deals. In practice, the best way to pick the right product and find the best value is with the help of an independent mortgage adviser with specialist knowledge of the buy-to-let market. Our expert mortgage advisers will search thousands of available mortgage deals and pick out the one that’s right for your circumstances.
Independent tax advice
For independent tax advice please visit www.cheyettes.com.
A fee of £95 is payable for your initial consultation with a further fee of up to £195 on completion dependant on the work required to secure your mortgage. Commercial mortgages and some buy-to-let mortgages are not regulated by the FCA.
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