Top Mortgage Solutions
Reviews and Ratings for Financial adviser Simon Rushbrooke, Southampton

Buy to let / Let to Buy

Mortgage & Protection Advice
buy to let

What is a Buy to Let Mortgage?

A buy to let mortgage is typically for investment properties which are being let out to non-family members and in general require a larger deposit, have higher interest rates and arrangement fees and the amount you can borrow is usually based on the rental income you will be able to achieve in the prevailing market conditions at that time.

Buy to let generally should be seen as a long term investment and whilst some people see their property portfolios as potential for a future pension, others look to simply supplement their existing earnings. There are also those who find themselves unable to sell their property and see no alternative other than to lease their existing property out in order to purchase a new home.

How much deposit do I need for a buy to let mortgage?

It is possible to obtain a buy to let mortgage with as little as a 15% deposit. However, due to the recent changes this isn’t as simple as it first appears.

The amount a mortgage lender is prepared to lend is typically calculated on the rental amount the property could obtain in the prevailing market conditions at that time. Currently, whilst all lenders criteria differs, a required rental income could be calculated based on 145% of 5.5%, meaning for example that for a £150,000 loan the required incoming rent would need to equate to £997pcm.

So as you can see, if the purchase price was £176,000 and the rental income was for example £850pcm a 15% deposit at £26,400 would not be sufficient and an increased 32% deposit is needed.

Can I purchase a buy to let property via a limited company?
Again the answer is yes

At Top Mortgage Solutions we have access to a broad range of buy to let products provided by large high street banks as well as smaller banks and building societies and specialist lenders therefore recommend making us your fist call for Buy to Let Mortgage advice.

Mortgage Advice

Z Access to exclusive mortgage interest rates

Z Access to more than just High Street lenders

Z Self-Employed products available

Z Bad Credit considered

Z Solutions for Buy to Let or Let to Buy

Z Access to Secured Loans

Z Access to Bridging finance

Z Access to Commercial Mortgages

We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. Our advice is covered under the Financial Ombudsman Service (www.http://www.financial-ombudsman.org.uk/consumer/complaints.htm). You may be able to submit a claim through the EU Online Dispute Resolution Platform (https://webgate.ec.europa.eu/odr/main/?event=main.home.show if you live outside the United Kingdom or if you prefer not to deal directly with the Financial Ombudsman Service.)”