Buy To Let Mortgages
Interested in becoming a Private Landlord?
A buy to let mortgage is a mortgage specifically for those wishing to buy a property as an investment. There are many factors and risks to consider for both new landlords looking to get onto the rental property market as well as seasoned investors.
When buying a second property to let, you will need to decide whether your primary objective is income or capital growth. In other words are you looking to make a profit month on month or are you looking to make a profit through increased equity from the second home should it increase in value over time. The decision could affect the type of property you purchase and the location. When you manage a property there are many costs involved in addition to the monthly mortgage payments. As a guide, you should be aiming to achieve a gross rental of around 135% of the rental property’s interest-only repayments to cover your costs should anything go wrong.
Whether your considering becoming a private landlord and buying a second property for rental or adding to your current portfolio, we’re here at g2m The Mortgage House to offer you expert advice and guidance.