Amicable Mortgage Services Southampton Hampshire

Investment Property

Free Phone 0800 781 0414*
Contact us for a Buy To Let mortgage

Buy To Let

Commercial finance Self Build Mortgage Investment home Property Portfolio

Currently in the UK this type of lending is not regulated by the FSA. In recent years renting out a property or property letting has become a very popular.

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UK. There are many factors for this, for example a high number of students, large numbers of foreign immigrates, the government selling off council houses and higher divorce rates creating families to split. It should be noted that a letting loan is taking on a business and needs experience with knowledge to be handled correctly.

Many lenders and banks now provide buy to let and let to buy mortgages. A let to buy is where your lender will allow you to rent out your old residential property so that you may be able to move to a new home which means they would retain two loans.

Buy to let mortgages may be governed by the valuer's stated rental valuation on the valuation report. Most lenders may be looking at the monthly mortgage payments being covered by the monthly rent by 125%. And generally the highest loan to value will be 85% so the landlord will be looking for a 15% deposit to put down. This is because the lenders regards this type of mortgage as a higher risk than residential lending.

Landlords should beware of dead rent periods when they are looking for tenants. And it is in the landlord's interest to put in place an assured shorthold tenancy agreement that is to be reviewed every six months. This may give some protection to the landlord from none paying tenants.

Landlord's may generally regarded their property as an investment due to capital appreciation and hence often placed the mortgage on an interest only mortgage.

Some Buy to let mortgage are not regulated by the Financial Services Authority. For information regarding a landlord's mortgage on a buy to let property, a mortgage broker may help you now, so please contact us or call 0800 781 0414 for friendly assistance.

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Free Phone 0800 781 0414

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 SECURED ON IT.

There may be a fee for mortgage advice, the precise amount of the fee will depend upon your circumstances. If a fee is charged it will be 2% of the loan amount payable on completion of the mortgage, subject to minimum £595. For example a £100,000 advance X 2% = £2000.
The
Financial Services Authority does not regulate some aspects of commercial finance, personal finances, buy to let and overseas mortgages.

 
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Free Phone 0800 781 0414
Amicable Mortgage Services Ltd, 32 Twyford Avenue, Southampton, Hampshire, SO15 5NP, which is authorised and regulated by the Financial Services Authority.
Registered office 5 New Broadway, Hampton Hill, Hampton, Middlesex, TW12 1JG, registered in England No4470987

©2008 * Letting Loan