Buy to Let Investing and Mortgages from ACC Associates
Over the last 20 to 25 years, more and more people have taken advantage of the increase in specialist buy to let mortgages from specialist mortgage broker only lenders. The abundance of mortgage funds until the financial crisis in 2007/08 led to many investing in buy to let property thanks to urban regeneration across the UK in towns and cities such as Cardiff, Bristol and parts of London – as a long-term opportunity to make profitable returns, to finance their retirement plans or to fulfil their entrepreneurial aspirations.
With our specialist broker knowledge of the buy to let investor marketplace, we are perfectly positioned to bring you the right buy to let mortgage rates and advice from a mortgage broker and advisor with experience in the marketplace.
Feel free to call us on (01249) 599019 to discuss your individual mortgage needs. To learn more about buy to let and mortgages continue reading.
Learn more about Buy to Let and Buy to Let Mortgages
A buy to let mortgage will enable you to take out a mortgage on one or more properties that you intend to rent out to a third party (tenants) – with a view to giving you income and capital gains on the property.
Apart from the purpose of the mortgage, the main difference with a buy to let mortgage is that the buy to let lender takes into account the rent you will earn from the property as the main source of income. Typically mortgage lenders will want the prospective rental income (which will need to be verified by an independent source) to be between 120% and 145% of the monthly interest payment on the buy to let mortgage. In some cases, buy to let mortgage lenders will take into account your personal income too when making a decision on lending you the required funds to pursue your buy to let venture.
Looking ahead to the future prospects of the buy to let market, demand for the rental sector is likely to remain strong with the continued changes to lifestyles compared to the traditional UK household. Although as ever when buying property, finding the correct type of property to invest in has never been more important.
Changes in regulation over the last 5 years mean that, finding the right buy to let mortgage to meet your future plans has become more complex and that is where a mortgage broker such as ACC Associates can help you. Call us on (01249) 599019 to discuss your individual mortgage needs.
The rise of the accidental buy to let landlord
It can happen for many reasons. Perhaps you’ve had trouble finding a buyer or you need to relocate – you may have inherited a relative’s home or property, or maybe you’re buying a new home and can afford to let out your existing one.
Whatever the reason, since 2007 till today*, there has been a rise in the now commonly used term “accidental landlord”. The important thing to remember is if you have fallen in love with your “potential” new home, but are having problems selling your existing home or are reluctant to get involved in the selling process with the potential loss of that new home of yours, then letting your existing home maybe an option to review. As a mortgage broker and advisor, we can guide you through the range of options available to you – many people believe they need a specific buy to let mortgage if they wish to let their home, however thanks to flexible underwriting from some lenders you may not have to obtain a specific buy to let mortgage initially.
Of course, it may sound simple in obtaining “consent to let” from your existing mortgage lender, but it may not be all plain sailing. This underlines the importance of obtaining advice from an experienced and qualified mortgage broker and advisor.
Buy to Let Mortgage Advice from ACC Associates Broker Advisors
ACC Associates understand investing in property via buy to let is a business decision and your personal broker and advisor has already worked with investors to help build their own property portfolios. We will be able to support you whether you are looking to invest in Cardiff, Bristol or anywhere else across the UK. Your buy to let mortgage broker and advisors knowledge will help reduce your risk of wasting time and money.
So whether you are investing in buy to let for the first time or are a professional investor, having an honest mortgage broker and advisor you can rely on in your team who understands the marketplace and can act quickly and decisively, will bring great benefits to helping you build your buy to let and property portfolio.
There are a number of ways you can find your buy to let investment property, such as a property auction or via an estate agent, the important thing to remember is you go into the project with your eyes wide open.
Call us on (01249) 599019 to discuss your individual buy to let mortgage needs.
Some Buy to Let mortgages are not regulated by the Financial Conduct Authority.