Buy To Let Can Expand Your Portfolio
We offer long-term competitively priced buy to let mortgages that are manageable and tailored to your business needs for property acquisition, renovation, commercial and residential buy to let investment or capital raising.
An off the shelf bank mortgage may not always fit, so we offer a range of tailored solutions for your individual purchase adopting alternative lending requirements if appropriate.
The buy to let mortgage is set-up so that the property is tenanted out and the mortgage payments are covered by the rent generated by the tenant within the security.
Buy To Let Mortgages – allow the borrower a first charge loan using an individual or multiple investment residential property(s) as security.
HMO Mortgage – a conventional buy to let mortgage taken over a security that has multiple tenants, generally 3 or more who form more than one household and the tenants share toilet, bathroom or kitchen facilities.
Multi-Unit property – a single structure that contains separate self-contained units or flats that are held on a single freehold title and is not subject to the same licencing requirements as an HMO
Holiday Let mortgage – a conventional buy to let mortgage on a security that has long-term tenancy restrictions.
Portfolio mortgage straddles the border between buy to let lending and commercial mortgages as a loan over multiple properties. In a buy to let form this will take individual loan charges against each property whereas in commercial form a single loan facility can stretch over multiple properties.
Loan repayments for buy to let properties are based on:
- Interest only products
- Capital and interest repayment products
Buy to let finance on single or portfolio properties to a maximum of 80% of property value set as a percentage of the purchase price of the property know as the Loan to Value (LTV) and as a long-term product the rates often tend to be very competitive with the borrower being provided with a choice of a fixed or variable rate product.
A fixed rate product allows the borrower to plan monthly expenditure; a variable rate product holds the advantage of a potentially decreasing monthly payment.
- Portfolio landlord – individual/company would have four or more mortgaged buy to let properties.
- 1st Time Landlord – a first time buyer as an applicant who has not owned a property in the last 18 months.
- Accidental Landlord – an individual who has inherited a property and want to convert it to a buy to let.
- Professional/Experienced Landlords – an individual/company who has owned a buy to let property for a minimum of 12 months
All mortgaged buy to let properties should be owned by the landlord whether jointly, in their sole name or by a company of which they are a director or shareholder.
Refurbishment Buy to Let product allows you to take advantage of the flexibility of Bridging Finance with the surety of an exit onto a Buy to Let Mortgage once the property has been refurbished (providing there is no change in circumstances and the property meets the expected valuation following refurbishment).
Our Refurbishment Buy to Let proposition is ideal for landlords who are looking to make changes to a property that can be completed within 6 months.