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Buy to Let Mortgage
Buy to let mortgages have become increasingly popular as more and
more investors realise that letting property is both relatively
simple and potentially profitable. Almost all the major mortgage
lenders now offer buy to let mortgages specifically designed for
those who want to buy property as an investment.
The principle behind a buy to let mortgage is fairly
straightforward. The investor buys a property with the help of a buy to let
mortgage, and the rent paid by the tenants is used to cover the monthly
mortgage repayments. The landlord may receive some income if the rent is
greater than the monthly repayments, and should also gain financially as the
mortgage is gradually paid off.
Getting a Buy to Let Mortgage
Buy to let mortgages are very similar to standard mortgages. However, the
lending criteria for a buy to let mortgage can be more restrictive than for
residential mortgages. The maximum you can borrow with a buy to let mortgage
may be limited to 85 per cent of the property's value, and you may have to
provide your mortgage lender with some evidence of the expected rental income.
We have extensive experience in this area and can guide you
through all the necessary procedures. Nevertheless, there's more to buying to
let than just obtaining a mortgage. Regardless of the performance of the
property as an investment, there are still risks involved in buying to let.
Success depends on choosing the right property and the state of the rental
market. If you are new to this market, it is essential to get professional
advice before you make your first purchase.
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The Financial
Services Authority does not regulate most Buy to
Let Mortgages
Buy to Let Mortgage
GSPC can help you find the best buy to let mortgage to suit your individual
circumstances. Simply complete our online
Mortgage Enquiry Form to contact one of our mortgage experts and
benefit from our free, independent advice.
Mortgage Lender, Scotland
GSPC offers independent, in-depth advice with no obligation. So
whatever your mortgage needs, there's no reason not to explore your mortgage
options with GSPC.
Find out more
about GSPC.
Click here for details on the cost of our
services
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