MORTGAGES
Buying a property to rent can be a great source of income and investment for your future.
It’s vital to plan your finances and be aware of what’s happening in the market so you can make the right decisions at the right time.
Why Buy-to-Let?
If you’re purchasing a property and are looking to rent it out, a buy-to-let mortgage might be the ideal solution for you.
Whether you’re an investor or prospective landlord, a buy-to-let mortgage provides a good opportunity to enter the rental property market. Essentially, a buy-to-let mortgage is offered specifically for those purchasing property as an investment rather than to live in yourself.
Even if you’re well-versed in buying and renting out property, the buy-to-let world can be tricky to navigate, especially as markets fluctuate. You need to ensure the rental income will cover your costs and provide you with a satisfactory income.
We are highly experienced at sourcing mortgages for buy-to-let clients and have worked with single property investors as well as professional landlords with extensive portfolios. Our approach is pro-active, personal and efficient.
Whether it’s buy-to-let remortgage options or portfolio and limited company mortgages, we’ll listen to all your requirements and then search the entire market to find the most suitable solution for you.
The right mortgage for your investment
Once you’ve found the perfect your rental property, the next step is to decide what sort of mortgage is best for your investment. What are you hoping to get out of the investment? Your mortgage will consist of two parts capital and interest. A repayment mortgage means you repay the capital and interest over the agreed term. An interest only mortgage means you pay the interest on the loan and the capital at the end of the term. If you want to own the property in the long run, a repayment mortgage might be your best option. If your investment is for the short-term or you wish to retain some capital, you may want to consider interest only, or a combination of the two.
The minimum deposit for a buy-to-let mortgage is often higher than a residential mortgage, at typically 25% of the property’s value, although this can vary between 20-40%. There can be increased risks associated with rental properties, such as delays in receiving rent, your property lying vacant, or damage caused by tenants.
Why Attivo?
We are a multi-award winning business with over 15 years of experience. We understand the buy-to-let market and will work with you to help you find the right deal for you.
Remember your property may be repossessed if you do not keep up repayments on your mortgage. Mortgage products can change or be withdrawn at any time and are subject to underwriting.
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