If you want to purchase a property that you intend to rent out to people and not live in yourself, then you’ll need a buy to let mortgage.
There are lots of types of buy to let mortgages. Those where you intend to rent it out on a traditional tenancy agreement, to holiday lets and Houses of Multiple Occupancy (HMO).
There are also a couple of ways of owning the property, either buying it yourself personally or through a Limited Company. There are pros and cons to both methods.
Whether the property will be your first buy to let, or if you own multiple properties already, a buy to let mortgage will help you attain your property goals.
The buy to let market in the UK is constantly evolving and changing. This means its vital that you have an experienced broker on your side to keep up to date with all the lender criteria changes to find you the best deal which brings you the best return on your investment.
Here at Oak Financial, we have helped create landlords and we’ve helped experienced landlords grow their portfolios. We will look at your circumstances and understand your goals, then put a plan in place for your mortgage. We can even give you advice about properties before you put an offer in on them.
The buy to let mortgage market can be complicated. So let us take the stress out of it for you. We will search the market from a large range of lenders and thousands of products, to find you the best lender and rate for your circumstances. When formulating our advice and making a recommendation, we will consider your circumstances, your wants and needs and things like legal fees, valuation fees, broker fees etc.
So that we can identify your options and the best next steps to take, have a free, no obligation chat with us. We will learn about and you and your circumstances in order to develop a bespoke plan of action.
Here are our 3 most commonly asked questions around mortgages.
There is no hard & fast rule for affordability. Every lender calculates how much they are prepared to lend differently, based on their own criteria, but also your circumstances. They will look at things like the size of your deposit, your credit profile, your income and any outgoings when calculating your available borrowing.
For residential properties, your deposit will need to be a minimum of 5% of the property value you are buying. For buy to lets, the usual amount is 25%.
It’s not just about the interest rate. We search the market from a huge range of lenders and take into account things like fees and cashback when making a recommendation that is tailored to your circumstances.
As the mighty Oak Tree represents longevity, strength & stability, we specialise in forging long term relationships with our clients based on trust and honesty, to build solid foundations for their future.
Oak FS Ltd trading as Oak Financial is registered with the Data Protection Act 1998 Registration Number ZB473115 and is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 1015779 and are an Appointed Representative of TMG Direct Limited which is authorised & regulated by the Financial Conduct Authority under Firm Reference Number 786245 and registered with the Data Protection Act 1998 Registration Number: ZA178200.
Think carefully before securing debts against your home. Your home may be repossess if you do not keep up repayments on a mortgage or any other debt secured on it. The guidance contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
