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Mortgage Advice & Financial Advice - Mortgage Types Buy To Let Mortgages - Mortgages & Advice
Buy To Let Mortgages
Buy to Let Mortgages are aimed at those seeking to purchase a property to rent out. With lower interest rates and falling property prices, buy to let has become a popular option for investment and income generation.

Mortgage Types - Buy To Let Mortgages

Mortgage Advice - Buy To Let Mortgages

Buy To Let Mortgages

Buy to Let Mortgages are aimed at those seeking to purchase a property to rent out. With lower interest rates and stagnant property prices, buy to let has become a popular option for investment and income generation. The lending criteria for buy to let mortgages is strict, though varies between lenders. Most lenders require a minimum 25% deposit, so it goes without saying that you will need to have a large sum of cash at the ready before being able to enter the buy to let market.


Mortgage Advice - Buy To Let MortgagesIs Buy to Let right for you?
Before filling out an application for a buy to let mortgage, it’s very important to assess the market and ensure that not only are you signing up for the product that is right for you, but that you are confident that buying to let is for you.

Consider whether buy to let is the arena in which your investment will best perform and bear in mind that property values can both rise and fall. Different lenders will offer products that vary in their criteria, interest rates, features and conditions and it’s worth taking the time to research each possible buy to let mortgage option. Research your target tenant market, the locality in which you are considering purchasing a house.

Can you afford to buy a buy to let mortgage?
Before engaging in any buy to let mortgage contract, it is absolutely essential that you are certain a buy to let type mortgage fits within your financial capabilities. Find out about repayments and interest rates, factor these into your calculations, leaving yourself some leeway for future rate rises. Plan for every eventuality – what if your property sits empty for several months? What about basic maintenance and repairs that, as a landlord, you will be obliged to take care of? Lenders will usually assess the loan on the basis of rental income being more than sufficient to meet the mortgage by a certain margin, rather than assessing on earned income, although many do require a minimum level of earned income.


*Note - In general, Buy to Let Mortgages are not regulated by the Financial Conduct Authority


Disclaimer - Note


YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

*In general, Buy To Let mortgages are not regulated by the Financial Conduct Authority

We will charge a broker fee of between £299 and £499, payable on application. The amount we will charge is dependent on the amount of research and administration that is required.


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Should you need help or understanding about these different mortgages, please call Trust Financial Solutions for expert advice and help and reassurance on which one is right for you. We simply aim to give you the ability to buy your home with peace of mind and to live the lifestyle of your choice.

Trust Financial Solutions can assist you in finding the right mortgage for you. We offer a confidential one-on-one service that can take the guesswork out of mortgages and help to guide you through the process from start to finish. This is what we do best and we look after you every step of the way.


  • We match your personal situation and objectives with the most appropriate mortgage deals available from our panel of mortgage lenders.
  • We will request from you all the necessary paperwork at the start.
  • We work closely & meticulously with mortgage companies to ensure the application is processed promptly, guiding you through every step of the way from first contact to completion.
  • We take pride in working to meet your timescales.

At Trust Financial Solutions we strive to be professional, courteous, prompt, trustworthy, honest, caring, but most importantly, we'll always have the best interests of you, the client, at heart.

Prefer someone to just explain all of this to you?


Buy To Let Mortgages - Options

Repayment Mortgage

This is also known as a Capital and repayment mortgage. This is the only mortgage that guarantees your mortgage will be completely cleared at the end of the term providing you keep up to date with all the required mortgage payments. Each monthly payment comprises part interest, and part return of capital.


Interest Only Mortgage

This is a mortgage where only the monthly payments cover the interest on the mortgage.

The loan is not decreased and at the end of the specific period the capital still remains and you will have to pay off this loan in full. In order to do this you will need an investment to cover the outstanding amount, (savings). The sale of your home is currently not allowed to pay off the loan
*Please note that we are unable to provide any advice in respect of a suitable repayment vehicle





Generic Mortgage Types - Explained

Offset Mortgages

Offset Mortgages

An offset mortgage allows you to offset your savings against the sum you have borrowed on your mortgage and you will be charged interest on the balance. It is usual for interest to be charged on a daily basis and may allow you to pay off your mortgage faster than with a conventional mortgage, and may save you money in the long run.

Fixed Mortgages

Fixed Mortgages

With a Fixed Rate Mortgage, the rate stays the same throughout the specific period, thus giving you peace of mind that your monthly payments won't change.
This allows you to budget accordingly

Tracker Mortgages

Tracker Mortgages

The Tracker Rate Mortgage follows a particular base rate such as the Bank of England Base rate or LIBOR (London Interbank Offered Rate) and can decrease or increase accordingly.

SVR (Standard Variable Rate) Mortgages

SVR (Standard Variable Rate) Mortgages

This is the Banks own lending rate without any discounts or deals. Usually this rate provides you with total flexibility and no penalties for closing the account early.



Other Mortgage Product Types

House Purchase / Moving Home

House Purchase / Moving Home Mortgage

This is the mortgage you'll require when you are buying a new home or moving to a different home and need to sell your existing house either privately or through an estate agent.

Click For More House Purchase Mortgage Info...

Remortgage

Remortgage Mortgage

This is the mortgage you'll require when you switch your mortgage (like for like) from one lender to another.

Also this is a good time to reassess your personal circumstances and make any necessary changes to your current mortgage. You may wish to borrow additional money to improve your kitchen or bathroom etc.

Click For More Remortgage Info...

First Time Buyer / Buying Your First Home

First Time Buyer / Buying Your First Home Mortgage

This is the mortgage required for people who want to get on the first rung of the ladder. There are lots of options available to you and some only require a small deposit.

Click For More First Time Buyer Mortgage Info...

Further Borrowing

Further Borrowing

This is when you wish or need to borrow additional money to build an extension to you home, modernise your kitchen or bathroom, consolidate your debt, or raise money for a new investment property.

Click For More Further Borrowing Info...

Debt Consolidation

Let To Buy

Let To Buy

Let to buy is a situation where a homeowner wishes to purchase a new home to live in and rent their existing property out to tenants.

Click For More Let To Buy Info...

Buy To Let Mortgage

Buy To Let Mortgage

This is the mortgage you'll require for buying properties to let out.

(You're currently viewing this mortgage type)

Buy To Let Remortgage

Self-Build Mortgage

Self-Build Mortgage

This is the mortgage you'll require to build your own home. Money is released, in stages, during the building process and valuations are done at each stage you wish to receive your money.

Click For More Self-Build Mortgage Info...

Commercial Mortgage



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