The London Buy to Let market is large and in order to get the best possible return on your property investment then you need to be sure you are getting the best possible buy to let mortgage.
Whether you are thinking of investing in the London buy to let market or if you already have a portfolio of London property the finance is very much an important consideration.
Another common way into buy to let is if you are currently living in London and want to rent out your existing place and buy another to live in. Rules around this type of transaction have changed recently and the number of lenders who will lend on this basis has reduced.
Just a couple of pointers when it comes to buy to let; as a rule you will need a deposit of 25% to secure a buy to let mortgage and the amount you can borrow is normally calculated based on a combination of your income and the rental income of the property.
Interest rates and arrangement fees tend to be higher on buy to let mortgages.
Please be aware that from 6 April 2016 higher rates of Stamp Duty Land Tax will be applied to the purchase of additional residential and non-residential properties.
For further information and advice or to arrange a consultation please contact us.
MOST FORMS OF BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FCA.
A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
FOR MORTGAGES WE ARE PAID BY A COMBINATION OF COMMISSION AND FEES, OUR TYPICAL FEE IS £395.