One of the most popular options for investment is the art of buying property to let.
Fortunately, we offer a one-stop shop for landlords new and old! Whether you're about to dip your toe into the world of property investment, or you're a seasoned, portfolio landlord, we can help you with your purchase or remortgage your existing assets, just ask!
Buy-to-let mortgages are different to regular residential mortgages, starting with their eligibility criteria. Whilst the criteria vary from lender to lender, they usually consider the following:
- Age – Lenders usually prefer you to be over the age of 21 years old.
- Deposit – Buy-to-let mortgages usually require a larger deposit than a standard residential mortgage. Deposits typically range between 20% and 40%.
- Income – As with most mortgages, lenders will examine your income before agreeing to a buy-to-let. Most lenders require a minimum household income of £25k per annum.
- Credit history – Again, examining your credit history is something you should expect as standard when looking at borrowing, buy-to-let mortgages are no exception.
To learn more about buy-to-let mortgages and find a deal that’s right for you, contact one of our advisors today.
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