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Your home may be repossessed if you do not keep up repayments on your mortgage.
The Financial Conduct Authority do not regulate some buy to let mortgages.

Whether you are an experienced landlord, or a first time investor when borrowing to invest in a rental property it is important to ensure you have a clear understanding of the process, benefits, risks, associated costs and your knowledge is up-to-date.

Buying your first or next investment property can be a daunting prospect. There are many questions you will need to ask yourself:

Frequently Asked Questions:

How much will it cost?

This depends on the type of property you wish to purchase, as well as taking into account your deposit, Solicitors fees, Valuation, stamp duty and Broker Fee. In most cases the property being purchased is in addition to a residential property, so there is a higher percentage stamp duty charge. The monthly mortgage payment depends on the mortgage required and the product recommended. The monthly mortgage payment should be met by the rental income; however you have to be prepared to meet the mortgage payment yourself should you have any rental voids. All costs are discussed with you and an Illustration is issued to you detailing information and figures about the mortgage product recommended prior to any documentation being submitted to a lender to ensure that you are completely happy and wish to proceed.

What return will I get?

This is very much dependent on your plans for the property. For example: are you looking at the long-term growth of the property, or the rental income you can command or both. We discuss with you your priorities and your reasons for the property purchase and then recommend the best course of action. We always recommend that you seek independent tax advice to ensure you are aware and can meet your tax obligations.

Can I afford it?

The mortgage should be self-sufficient, which means that your monthly mortgage payment should at least be covered by the rental income you receive. However, you must be able to meet the mortgage commitment yourself should you be unable to secure a tenant. We do a full assessment of your current circumstances and financial situation, so we can ascertain that purchasing a Buy to Let property is appropriate and affordable.

How much deposit do I need?

The majority of lenders require a 25% deposit, however there are limited lenders who may accept a 20% or 15% deposit, but the fees are higher.

What type of mortgage do I need?

This very much depends on your priorities, objectives, attitude to risk, lenders criteria and the types of products available at the time. A detailed fact find and discussion is carried out to ensure we source the most appropriate product for you.

Will I get a mortgage?

This depends on many factors. The benefit of having a chat with us is that we can discuss your individual circumstances and offer you appropriate advice and guidance, whether you are able to move forward now, or it is necessary to put a plan in place to achieve your objectives at a later date. Give us a call, we are always happy to hear from you!

The buy-to-let market is complex. There are many different mortgages to choose from. So it’s good to know that we are on hand to answer your questions. We will help you with the process of not only getting a mortgage, but getting the right mortgage.

We take pride in offering a personal service that takes into account your individual circumstances. You are unique and so is your financial situation, so we work hard to understand your goals and aspirations, making financial recommendations based on a comprehensive and detailed analysis of your needs.

The Financial Conduct Authority do not regulate some buy to let mortgages.

We can answer all your questions, offering you the most appropriate guidance and advice for YOU.

View our factsheets for further information:
Borrowing To Invest In Rental Property

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