Switch To Buy To Let Mortgage

Switch To Buy To Let Mortgage

Switch To Buy To Let Mortgage - Switch to buy to let mortgage refers to when individuals change the mortgage on their residential property to a buy to let mortgage. Homeowners may choose to do this for a number of reasons. It could be because homeowners want to move to a second home here or abroad and would like to generate rental income from their original residential home. Another reason homeowners may switch to buy to let mortgage could arise after facing difficulties in selling the residential home either due to unfavourable market prices or lack of interest from buyers. In this case, homeowners may choose to let their properties out in the meantime until the housing market picks u p.

Homeowners wishing to switch to buy to let mortgage deals may find the process to be more complex than for a residential mortgage. This is because lenders offering switch to buy to let mortgage packages tend to have different lending requirements for these products. In addition to potential minimum income requirements, buy to let mortgage providers assess the potential rental income that can be accrued from the buy to let property. This is normally on the basis that rental income is at least 125% of monthly mortgage payments.

If you switch to buy to let mortgage financing products are available from a range of lenders and it is often best to seek advice to obtain the best deal available. We are available to provide assistance to clients seeking to switch to buy to let mortgage products. We offer a tailored advice service and will assess each client’s circumstances in order to find the best buy to let deal. We will use our links and contacts with a range of leading mortgage providers to find the most competitive and cost effective package for you. Our specialist advisers can offer the advice and support that you require to help make your application successful.

If you need any assistance why not speak to one of our Mortgage Advisers by calling 020 77 100 400 or Enquire Online.

Do you want to switch to buy to let mortgage? Call a member of our advisory team today to secure a great deal.

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