• MAKE AN INCOME BY INVESTING YOUR MONEY IN PROPERTY

BUY-TO-LET MORTGAGES FOR LANDLORDS WHO WANT TO RENT THEIR PROPERTY OUT

BUY-TO-LET mortgages – WEST SUSSEX, SURREY & BEYOND

If you are looking to invest in property and need a mortgage for a home you won’t be living in, a buy-to-let mortgage could be the best option.

We advise you on the eligibility criteria and borrowing limits of buy-to-let mortgages and help you secure the best deal available, whether you’re a first-time buyer or are looking to expand your property investment portfolio.

Looking for a mortgage that won’t impact the one you already have on your own home?

Already a property owner and concerned about the tax implications of buying a second property?

Concerned about the typically higher interest rates on a buy-to-let mortgage?

Wondering if investing in property will give you the financial return you hope for?

We offer buy-to-let mortgage advice for clients across West Sussex, Surrey and beyond, and are always happy to discuss whether a buy-to-let mortgage is a good option for you and, if so, how to proceed with your application.

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The best buy-to-let mortgage deal may not necessarily be the one that’s the cheapest, but could provide more flexibility, allowing for greater investment in your property and a higher long-term return on that investment.

ELIGIBILITY CRITERIA FOR BUY-TO-LET MORTGAGES

  • You are looking to invest in property other than your primary residence
  • You understand the risks associated with property investment and can afford to take them
  • You generally already own your own home, either outright or with an outstanding mortgage
  • Your credit rating is good and you don’t have too many other borrowings, such as credit cards
  • You earn over £25,000+ a year. While you may find a lender for a buy-to-let mortgage with less than this, it might be difficult
  • You are under the lenders’ upper age limit, which is usually between 70 or 75 when the mortgage ends. For example, if you’re 50 when you get a 20-year mortgage you will be 70 when it ends. This is the ages that will be taken into consideration – not your current age of 50

ARE THERE ANY FACTORS TO BE AWARE OF WITH A BUY-TO-LET MORTGAGE?

  • Interest rates can be higher, as can fees (however, most buy-to-let mortgages are interest-only, so they can be much more manageable for investors)
  • At the end of the mortgage term, the capital will still have to be repaid in full
  • It is common for the minimum deposit required for a buy-to-let mortgage to be higher than for a personal mortgage
  • When looking at the figures and projecting your rental income, it’s wise to consider that there may be periods when your property is unlet
  • The housing market can be predicted, but is not guaranteed – do you have a contingency plan for if house prices were to fall at the time you were looking to sell and repay your buy-to-let mortgage?
  • It’s important to consider the tax implications. If you were to sell your buy-to let property and make a profit (which presumably, you would like to), you will then be faced with Capital Gains Tax if the profit exceeds the annual Capital Gains Tax threshold.

Helping you make a success of your buy to let investment

HERE’S WHAT WE’LL DO:

  • Work with you to understand your buy-to-let mortgage needs
  • Discuss your current income and expenditure, and ensure that you meet all qualifying criteria for a buy-to-let mortgage
  • Research the whole of the mortgage market to find the right lender for you
  • Make your buy-to-let mortgage application as strong as possible
  • Protect your credit rating as much as possible during the application process
  • Manage the application process on your behalf to ensure speed and efficiency

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    The guidance and/or advice contained within this website is subject to the UK regulatory regime, and are therefore targeted at consumers based in the UK. Maplewood Mortgages is a trading style of Global Financial Ltd; a member of Best Practice IFA Group Ltd which is authorised and regulated by the Financial Conduct Authority. Details can be found at www.fsa.gov.uk under reference number 506634. Global Financial Ltd is registered in England, no. 00922704.

    The Financial Ombudsman Service (FOS) is available to handle individual complaints that financial services businesses and their clients are unable to resolve. To contact FOS please visit us at www.financial-ombudsman.org.uk