CALL USWhy review your buy to let mortgage arrangements?
Anyone who has a buy to let mortgage where their initial fixed or tracker rate has come to an end could achieve significant reductions in their monthly mortgage payments by finding a new deal. This could be with an existing lender (rate switch) or with a new lender (buy to let re-mortgage).
For those clients whose mortgages are coming to an end, acting early can prevent you from moving on to the costly standard variable rate that most lenders automatically move you to.
Whilst reducing monthly costs may be the motivation for many to consider remortgaging their buy to let property, our clients often have other factors driving their decision such as:
- Reducing the term of their buy to let mortgage
- Consolidating other debts
- Releasing equity to finance further investment opportunities
How can I get the best deal?
Our advisors will be delighted to talk to you and take the time to understand the structure of your existing property investments and the associated mortgage arrangements. They will use their wealth of experience to make recommendations regarding upcoming product end dates and where more competitive finance can be secured. They will also keep you informed of major changes in the market so that you can adapt your strategy where necessary.
In this fast moving market we recognise that efficiency and professionalism are important to our clients and we will manage the process from application to mortgage offer making sure you are kept fully informed.
What is more important? My income or rental income?
Traditionally, most Buy to Let lenders require at least one applicant to have an income of over £25,000 per year. However, many lenders are now less concerned with an applicant’s income and tend to focus more on the rental income. If you have an income of less than £25,000 we are highly likely to be able to find you a competitive deal provided the rental income is sufficient. The rental income requirements vary from lender to lender and our advisers are well-placed to advise you on what is possible.
Organise a free consultation
Leave your details or phone us now on 02074276067
Summary
Make sure your property investments are delivering the best possible returns by taking advantage of the huge range of deals currently available.
Bennison Brown will advise you on your options to make things as simple as possible and find and arrange the right mortgage for you.
Your home may be repossessed if you do not keep up repayments on your mortgage.
