Buy To Let Mortgage - Property Developer Mortgage
There are now many specialist buy to let and second property mortgages. Contact us for a mortgage quotation today.
You should be aware for buy to let mortgage, in general terms that you will need a deposit on average in the region of 20%.
Affordability is not generally assessed on your income, buy to let mortgage is normally assessed on the rental income potential of the property in question.
The mortgage rate may be slightly higher than general residential rates and there may be many other considerations that you need to consider such as:
- The need to decide on tenancy terms and agreements
- The fact that you, as a landlord, will need to comply with many laws with regard to tenancy and ensuring that your property is safe
- It is worth considering involving a professional managing agent as they may supply you with and indeed ensure compliance with all the necessary rules and regulations
For Buy To Let Mortgage help on purchasing a second property contact us.
Capital Gains Tax on 2nd Properties
You should also be aware that only your main residence grows tax free. Second homes or rental properties may attract capital gains taxes when you sell them on. Find out more.
Request mortgage advice or complete our simple mortgage search form.
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