Buy to let mortgages London
Expert advice for all types of investment property
Need a Buy To Let Mortgage London? A buy to let mortgage is a loan secured against a property that is intended for rental. The mortgage can be obtained in a company name (commonly referred to as a special purpose vehicle or SPV for short) or by an individual investor in their personal name.
Buy to let mortgages are secured on the expected rental income of the investment property. Unlike a mortgage on your home, income does not determine the loan amount you are able to borrow. However, some lenders can take a view on your surplus income to increase the loan size, if the expected rental income assessed will not be enough for the required loan (known in the industry as ‘income top slicing’). Buy to let mortgages can be used to purchase new investment properties or to re-mortgage a current home and convert it into a rental property.
Due to the recent changes in the legislation there are now more options available to set up via a limited company should you not wish to purchase in your own name. There is no age or credit profile restriction for a buy to let mortgage. If it is your first time investment or you are an experienced landlord understanding the options available to you and cost implications are of paramount importance and will help you get the most out of your investment property.