Buy to Let Mortgages for Landlords
- Supporting you with expert advice and top-quality products
- Working closely with you to understand your wants and needs, ensuring these align with your budget.
- Finding you the most suitable deal for now and in the future.
Please contact us for a no-obligation conversation with an adviser about the most suitable mortgage option for you.
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We can find the right Mortgages for landlords
At Heron Financial we’re here to guide landlords, through the Buy to Let process. Our comprehensive team of mortgage brokers will take you through the basics advising on important considerations. We’re open seven days a week to work around you so book an appointment with us today. We’re happy to use Zoom, Teams and Skype.
So what exactly is a Buy to Let Mortgage? Borrowing is based upon the monthly rental amount you’re likely to receive on a property. Your personal broker will be able to provide a good idea of how much you’ll be able to borrow. It pays to note that some lenders wish to look at income whilst others are slightly more generous.
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Your home may be repossessed if you do not keep up repayments on your mortgage.
There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.
Getting your Buy to Let Mortgage
1. How Does Buy to Let Work?
Your Buy to Let Mortgage is a secured loan against a property you own and intend to rent. The sole purpose of this type of mortgage is purely for rent.
The amount you can borrow here is based upon how much rent is charged per month. Ideally, rental income will cover mortgage payments, with a little left over.
3. Choosing a Property
You’ve likely already decided on the perfect area for your buy to let property. There are however some considerations.
Is the area profitable? Does the area provide good transport links? How close are local amenities? What type of tenants currently reside in the area? Is this demographic set to change? We’ll help answer these and similar questions.
5. Things to Consider
It’s important to understand the fees when going ahead with a buy to let mortgage. At Heron Financial our service is transparent.
Most lenders require a minimum salary. Typically you’re required to cover at least 20% deposit. Interest rates, arrangement and conveyancing fees can also be higher. Employing a broker to deal with these issues makes the process easier and our services are of course free.
2. The Buy to Let Process
Research is key and this is something our experienced brokers help you with initially. Making the right choice should not be rushed.
Delving into the world of buy to let on your own can potentially be a daunting process. There’s lots of information to digest and a variety of lenders with different requirements. Choosing us to handle this for you makes the purchase simpler.
4. We’ll Find The Right Deals
As professional Mortgage Brokers we have access to a variety of deals available and Heron wont charge you any fees. Our information is always straightforward.
When presenting you with a highly researched deal, all you need to decide is whether you’re going ahead. If so, we’ll be with you every step of the way through setting up your new, buy to let mortgage.
