If you are planning to buy a property to rent out then you will need a buy to let mortgage. You cannot take out a standard residential loan.

As many existing landlords already know, this market has shrunk considerably over the last few years. However, there are still a lot of mortgages available.

It pays to shop around for a mortgage. Speak to a mortgage broker to find out the best deals for your circumstances.

A buy to let mortgage will have a higher interest rate than a standard home loan.  You will also have to put down a larger deposit.  This is typically a minimum of 25% up to around 40% for the best deals.

Plan Your Finances

Mortgage companies often look at affordability when making their decisions about whether or not to grant a mortgage. They will typically examine your income, as well as look at your existing loans and outgoing payments. Ifyou can reduce expensesand remove debts then you may be better placed to get a mortgage in the first place as well as to subsequently meet your mortgage payments. You will need to plan carefully in order to do this of course.

Also consider extending the period of your mortgage or looking into joint mortgages as a way of getting onto the property ladder by buying with other people. Check out what products are available to you that meet your requirements and your budget.

There is plenty that you can do to put yourself in a better position when looking for a mortgage, provided you simply plan and prepare.

Подробнее на сайте: https://newsrecent.ruhttps://news720.ruhttps://newsnight.ruGo to top of page https://newsabc.ru https://sidenews.ruhttps://newsquick.ruhttps://calmnews.ru https://branchnews.ru
https://rawnews.ruhttps://exactnews.ruhttps://newsinit.ruhttps://newsaim.ruGo to top of pagehttps://newsmoment.ru https://bordernews.ruhttps://targetnews.ru

A Guide to Buy-to-Let Mortgages

These days, it’s more important than ever to make 100% sure that you have thoroughly understood the numbers behind a buy to let property, particularly when it comes to your mortgage. With this in mind, here is a brief guide to buy to let mortgages.Buy to let mortgages work differently depending on whether or not you are a limited companyEven though lenders assess potential borrowers on the basis of the rental income they (expect to) receive from the property, in a worst-case scenario; they can make a claim against a private individual’s personal property. They can, however, only claim against the assets of a limited company rather than the property of the people who own the company and have to take this fact into consideration when deciding whether or not to do business with them.Landlords with more than three mortgaged properties must have their whole portfolio assessedThis regulation comes into...
Rate this blog entry:
Continue reading
547 Hits
0 Comments

Five reasons why Brexit has triggered 50% surge in mortgage enquiries

  Mortgage enquiries from overseas buyers are up 50 per cent since the Brexit decision, reports the mortgages division of one of the world’s largest independent financial advisory organisations. deVere Mortgages, part of deVere Group, which specialises in UK mortgages for expats and overseas buyers, primarily from the Middle East, Europe and Far East, affirms the uptick is a direct result of the outcome.Mike Coady, Managing Director of deVere Mortgages, comments: “We have experienced an almost 50 per cent increase in mortgage enquiries from British expats and overseas buyers since the result of the historic referendum that will see Britain leaving the European Union.  “We can attribute this significant surge in demand primarily to five key motivators.”He continues: “First, UK property has long been – and remains – highly in demand by those who reside overseas.  This is because of the ongoing fundamental strengths of British residential property investments.  But...
Rate this blog entry:
Continue reading
2878 Hits

Mortgage Rules Nightmare!

We are investigating adding to our current residential mortgage to possibly fund a house move. This image from the Telegraph is exactly what I looked like last week after a conversation with our bank. When I booked the phone appointment with one of their mortgage advisors they said they would provide me with a list of documentation they would require before the call. They duly provided a list via email. As we are both self employed this was an ardous task. I had to scan into their online system 3 years of accounts, tax returns - business and personal, information from the HMRC, 3 months of bank statements and much more.   This probably took 2 to 3 hours to obtain all the information and to upload it all. We were told the call may take 2 hours!!  The advisor then proceeded to ask us very detailed questions about income, profits...
Rate this blog entry:
Continue reading
868 Hits
0 Comments

What Is The Mortgage Credit Directive?

Mortgage changes afoot for ‘accidental’ property investors The Mortgage Credit Directive, part of new EU regulations, is designed to more stringently regulate the buy-to-let property market. The directive applies to those using mortgages to finance investment properties and applies from March 21st 2016. The ‘accidental’ landlord and professional buy-to-let investor Broadly speaking there tends to be two types of landlord: ‘Accidental’ or ‘consumer buy-to-let landlord’ - someone who perhaps inherits a property and lets it out because they don’t need to live in it themselves or lets out their home - perhaps because they move abroad. They’ve never intended to become a landlord but circumstances contrive to make them become one.  Professional property buy-to-let investor - someone (or perhaps a business entity) who buys one or more properties with the sole purpose of letting them and deriving income from the rents paid by tenants. Maybe, in the fullness of time,...
Rate this blog entry:
Continue reading
485 Hits
0 Comments

Possible Brexit drives demand for mortgages

The possibility of Brexit is fuelling a surge in mortgage enquiries, reveals deVere Mortgages. The observation from the mortgage division of deVere Group, one of the world’s largest independent financial advisory organisation, comes as both sides of the debate on whether Britain should leave the EU up the ante in a bid to win UK voters’ hearts and minds ahead of the In/Out referendum in June. Mike Coady, Managing Director of deVere Mortgages, comments: “The UK’s EU referendum is getting almost wall-to-wall media coverage. The issue is dominating news agendas and it is likely to increasingly do so as we move towards the vote on 23 June. “The campaigning has noticeably ratcheted up a gear over the last two weeks.  This is especially so since the announcement of London Mayor Boris Johnson, who has a long-standing ambition to be Prime Minister, to back the Vote Leave lobby. “Despite pro-Brexit groups...
Rate this blog entry:
Continue reading
502 Hits
0 Comments