CALL US on: 01698 571-160
Choose the best mortgage solution for you with valuable fixed-rate loans from our business in Lanarkshire and central Scotland. Let us take the weight off your shoulders with our buy-to-let mortgages, which are only suitable for investment properties. We will recommend the right solution for you from buy-to-let mortgages across the wide range of lenders including from lenders who offer mortgages only through mortgage brokers.
When it comes to regular domestic home loans, there are many products on the market ranging from special offer deals to fixed- and variable-rate loans. With a buy-to-let mortgage, some lenders only consider your rental income, and others place more emphasis on your normal earnings, especially when you only have one or two rental properties. To find out more about buy-to-let mortgages, contact us by clicking here.
Your expected rental income must exceed your mortgage repayments by a certain percentage. Your mortgage lender may require a rental income of between 100% and 130% with the most common percentage being 125% at this time. Your lender will also want to establish whether the property you are buying is a good long-term investment, and buy-to-let mortgages are subject to the usual status checks. Generally buy-to-let mortgages are available for between 5 and 45 years and for up to 80% of the property value.
When considering a buy-to-let mortgage, it is necessary to think about additional costs such as letting agent's commission, insurance premiums for building and contents cover, and rental and legal expenses. You should also consider the costs of keeping the property in a suitable condition for letting, service charges, and ground rents when the property is leasehold. Additionally, not all forms of mortgage are regulated by the Financial Conduct Authority.
One Stop Mortgage Consultants Ltd is an Appointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority.
Contact Numbers: 01698 571 160 or 01698 571 166 | Address: 60 Wellgate Street Larkhall ML9 2AG | Company Number: SC270194
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Your home may be repossessed if you do not keep up repayments on your mortgage.
Some forms of Buy to Let Mortgages are not regulated by the Financial Conduct Authority