Buy To Let

BUY TO LET MORTGAGE/REMORTGAGE

A Buy to Let Loan is a residential loan on a property that is not let to an immediate relative. At Mortgage Maze, whether you are a portfolio landlord, or this will be your first investment property. We can guide you through the process of arranging this finance.

A Buy to Let Loan is a non-regulated product and therefore the protection that is afforded to regulated products does not apply.

HOW MUCH CAN I BORROW?

Buy to Let borrowing is based on a calculation that involves the rental coverage of the property at a specific interest rate, both of which are determined by the lenders criteria.

HOW SHOULD I PURCHASE THE PROPERTY?

When purchasing a property of this type you do need to understand what tax implications it will have on you. Also from time to time the government can change how taxation is applied.

Therefore at Mortgage Maze we recommend that you speak to an accountant/tax adviser who can provide you with on-going advice. For example,, your accountant may suggest you purchase the property in limited company.

Should you need to consult with an accounting representative but you do not have such representation at present, we can put you in touch with such a firm.

WHAT IS A PORTFOLIO LANDLORD?

If you own 3 or more properties you will be classified by a lender as a portfolio landlord. If this is the case there may be additional requirements needed in order to support any application.

Think carefully before securing other debts against your home. your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secutred on it. If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Mortgage Maze is a trading style of Charles Frank Finance Ltd. Charles Frank Finance Ltd is authorised and regulated by the Financial Conduct Authority. See https://register.fca.org.uk - FCA number 624668. Our Data Protection Registration is Z2962200.

There may be occasions when the firm charges a fee. This is dependant upon your circumstances, but it will normally be no more than 1% payable on completion.