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UK Buy to Let Mortgages

Buy to Let mortgages are usually taken on by people who already own their own home, a property is bought in order that it may be rented out. Buying a property to let can benefit the private landlord in two ways. Firstly, it can provide a stream of income. Secondly, many Buy to Let landlords purchase property because of the potential for long-term accumulation of capital growth. Once the deposit has been found then the buyer will rent the property at a cost that covers the mortgage they have on it, in most cases the buyer will wish to rent the property out at a profit each month, that is they will want to charge more than the monthly mortgage premium. So long as good tenants can be found there should be no problems.

 

Finding a property in a good location, close to local facilities such as shops and public transport is vital if you are to be successful at buy to let. Whilst renting cheaper properties to students can be one of the big money earners, you should also remember that most students go home for the summer holidays, leaving your property empty until the next term. You should consider the fact that you will be responsible for maintenance of the property, so you should always have a budget that can be used for such maintenance.

If you are considering renting off quite a few properties then you should make sure you find a lender who offers you the scope to do so, some lenders will restrict the amount of money they will borrow you and the number of properties you can buy to let.

Deposits for a Buy To Let Mortgage are usually greater than with a residential mortgage. The amount you can borrow will depend on how much the potential rental income could be.

Full range of UK Mortgages:

100% | Buy to Let | Capped Rate | Discounted Rate | Endowment | First Time Buyer | Fixed Rate | Flexible | Interest Only | ISA | Non Status | Self Build | Self Certification | Self Employed | Tracker | Variable Rate

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Typical, variable APR is 10.9%. Rates range from 7.7% to 18.3%
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP MORTGAGE OR DEBT REPAYMENTS SECURED ON IT
THINK CAREFULLY BEFORE SECURING ANY OTHER DEBT ON YOUR HOME. NON PAYMENT OF ANY LOAN CAN AFFECT YOUR CREDIT RATING

Every effort has been made to ensure that the facts here are correct. No liability is accepted for any errors contained herein or for any loss resulting from actions taken.