Understanding your personal circumstances is vital in finding the right equity release plan for you.
Buy to Let Southend
Investing in property has become a mainstream trend in the last decade, as buy to let mortgages have become affordable and easily obtainable, people who have never evan dreamed of owning a second property are jumping on board to try to safeguard their future, following years of uncertainty with pensions and other investments.
Buy to let mortgages do not have to take into account your income, they can be based on the rental income for the property you are looking to buy.
Buy to let mortgages rarely allow you to go above an 85% LTV so you will need to have a 15% deposit available for the purchase of the property.
You will need to ensure that you can afford to pay the mortgage if you have extended periods of your buy to let property being unoccupied. Additionally there are sometimes extra conditions applied by some lenders about the age and maximum portfolio size of mortgaged properties.
You will also need to ensure that you have landlords insurance in place on the property a standard Buildings and contents policy is not enough due to the fact that the property is not being occupied by the owner and there is an associated risk with that.
Investing in your future, Buy to Let mortgageadvice from Amber Mortgage Solutions.
Amber Mortgage Solutions invite you to contact us on 01702 619 221 and let our expert brokers guide you through the buy to let mortgage market. Alternatively you are welcome to use our convenient enquiry form and we will respond to your questions promptly.
