A buy-to-let or an investment mortgage is designed for borrowers who wish to purchase a property to let to a third party thus becoming a landlord. To be a successful project the rental figure paid by the tenant should cover the cost of the mortgage repayment, offset any maintenance costs and leave some profit for you!
Over the past few years, property speculation has proved popular in the UK as a long-term investment opportunity and as a way of securing a source of finance for retirement.
Many lenders provide specific buy-to-let mortgage products including fixed and variable rate options. Lenders often assess buy-to-let mortgages on the expected rental income from the property rather than the affordability based on a purchaser's income because ultimately this is a new business venture and unrelated to your current job.
At GEM we can provide all the assistance you will need to become a private landlord including advice on specialist areas including tax issues and professional lettings agents.
Call us now on 020 8543 0111 or contact us here.
The Financial Services Authority does not regulate some forms of buy-to-let mortgages.
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