22nd August 2014
Are You Interested in a Buy To Let Mortgage in the Peterborough Area?
As the demand within the renters market becomes ever greater, there must be landlords out there ready to fulfil the demands. If you are interested in buying a property which is intended for rental purposes then a buy to let mortgage is going to be the scheme for you.
Buy to let mortgages have been specifically designed for those who wish to buy property and make money from it by renting it out, but who can’t afford to buy the property outright. A buy to let mortgage functions the same way as a standard mortgage scheme, however it is common to see slightly higher rates because buy to let mortgages pose a greater risk to lenders. This risk arises because landlords usually make repayments on their buy to let mortgage by using the rent earned on the property. So if the landlord experiences a period where there property has no tenants then this might mean that they struggle to keep up with monthly buy to let mortgage repayments.
With a buy to let mortgage it is also important to bear in mind that lenders are going to be looking for larger deposits, a higher minimum salary and also for you to already be a home owner. The criteria might seem quite steep but it is to ensure that you have thoroughly considered your buy to let mortgage and the complications that could occur.
Buy To Let Mortgages with The Mortgage Broker Protection Ltd
With the above being said, do not be completely put off attaining a buy to let mortgage! Whilst some people are going to be entirely wrong for the product due to not fulfilling the desired criteria, you on the other hand might be perfect. The best way to find out is to speak to one of the advisors at The Mortgage Broker Protection Ltd. Their mortgage brokers are experts in providing accurate and great quality mortgage advice.
When it comes to buy to let mortgages, they can help you assess your financial situation and assist you in finding the perfect buy to let mortgage scheme. All they need you to do is give them a call and they will be more than happy to do the rest. The Mortgage Broker Protection Ltd advice is without obligation so if you decide that a buy to let mortgage isn’t for you, they will be able to help you look through the alternative mortgage products. Call 01733 304 145 today!
Buy to let mortgages are not regulated by the Financial Conduct Authority
Upon application a fee of up to £495 will be payable (typically £195)Tags: Buy to Let Mortgages