Whether you’re an ‘accidental’ landlord who, for whatever reason, finds themselves in a position where they no longer need to live in a house they own but want to make it pay its way, or someone who’s making a career out of the lettings market, we can help you secure the right mortgage for your needs.
Despite recent changes in tax and Stamp Duty legislation, property remains an attractive source of income for many people across the UK. According to a survey by estate agent Knight Frank earlier this year, close to six million households will be in private rented accommodation within the next three years.
But getting a buy-to-let (BTL) mortgage is subject to different qualifying and lending criteria than for securing borrowing against a home you’ll live in yourself.
At Oportfolio we understand the particular challenges that come with securing the most suitable BTL mortgage product.
Common differences between a BTL mortgage and borrowing against the home you’ll live in often include higher rates of interest, the requirement for a proportionally greater deposit and higher lender fees.
On top of that, there are other practical considerations to take into account – specialist buildings and contents insurance (we can help you here, too) and the costs involved in having a professional agent manage the tenancy if you’re not planning on doing it yourself.
Whatever your needs, the road to a BTL mortgage doesn’t need to be overwhelming. We’ll start by asking you to provide us with some key information (which we can also use as the basis of an application for personal or property insurance you may want in the future) and then talk to you about what you want to achieve.
If you’re ready to start your journey with us, so are we. Click here to contact a member of our friendly team.