Buy to Let Mortgage Guide
Questions
Should I use a broker? Brokers offer a classic time versus
money trade-off. Brokers charge an upfront fee to help you arrange
your commercial mortgage. This fee is usually around 0.5% but can be
more. In exchange for this fee, the broker will prepare your
documentation to submit to banks and will shop around to secure you
an attractive deal. This process will save you the time of
discussing you specific financing needs with multiple lenders.
Can I get a buy-to-let mortgage if I have bad credit?
Although many lenders will not lend to individuals with low credit
quality, there are specialist lenders who accept individuals with
county court judgements against them. These lenders are likely to
restrict the maximum amount of loan and charge a higher interest
rate to compensate for the increased risk.
Below we explain the what, why, how, who and when of buy to let
mortgages within the UK.
What is a buy to let mortgage?
A buy to let mortgage is a mortgage allowing you own a property
that you will not live in. You will tenants, these tenants will pay
you rent and through their rent you will be able to pay off the
mortgage that you have taken out on the property.
Overview
of buy to let mortgages |
