Best Buy to Let Mortgage Deals for 
Landlords and Investors

Exeter Mortgages Online will help you find the best Buy to Let deal

We can help you find the ideal Buy to Let mortgage, with hundreds of schemes to choose from through Weston Mortgages Online, so all you have to do is find the perfect tenants. We source a range of products including low cost fixed and tracker rates so you can pick the one that’s right for you. We also can offer specific mortgages for licenced HMOs and Holiday Lets.

Specialist Advice, Specialist Knowledge

All our advisors have specialist professional knowledge of the investment market. Through the lenders we use options can include:
  • You can borrow in your own name or as a group of up to four private individuals. 
  • Borrowing for Limited Companies and SPV Mortgages.
  • A choice of how to let your Buy to Let property from a range of acceptable options. 
  • Repayments on an interest-only, and / or capital repayment basis.
  • Portability so you can transfer your Buy to Let mortgage rate to another Buy to Let property.
  • Regulated BTL mortgages for those wishing to rent to family members.
Take advantage of our free initial consultation to discuss
  • Self-employed as well as employed mortgages
  • Portfolio management and building
  • High loan to value products, including up to 80%.
  • Research from broker only mortgages
We can find you the best deal to suit your specific requirements choosing from
  • High street banks
  • Building societies
  • A vast array of Buy to Let mortgage specialists
General advice
Ensure you thoroughly research a prospective property and seek advice from local letting agents, we can help recommend some excellent ones, regarding its suitability for letting, level of current demand and anticipated rental income. 
Factor ‘hidden costs’ such as solicitors’ fees, stamp duty, letting agency and management fees, building insurance, ground rent/service charge for leasehold flats, maintenance/repairs to the property, into your calculations.
Consider the implications on your tax affairs. 
We recommend that you consider taking professional tax advice from an accountant or discussing with your tax office, again we can recommend tax specialists who we work with.
Make provisions for how you would make your monthly Buy to Let mortgage repayments in the event of your Buy to Let property being empty, your tenants failing to pay or if interest rates rise.
From 1 April 2016, Stamp Duty Land Tax is an extra 3% on top of the current rates for buy to let residential properties above £40,000.
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Let to Buy Mortgages 

How does Let to Buy work?

If you want to move house but you are struggling to sell your current home or your property has dropped in value, Let to Buy is something you may want to consider. Letting out your property could allow you to move into a new home without feeling pressure to sell in a rush and potentially at a loss.
If you own enough of the equity in your property, you could remortgage and release some cash to put down a deposit on a new home. You would then let out your existing property and use the rental income to cover the cost of the mortgage. This in turn will free you up to take out a mortgage for a new home and cover the repayments with your salary or other sources of income.

Mortgages if you want to Let to Buy

Although some lenders will allow you to let out your home on a residential mortgage, this will normally only be on a temporary basis. So unless you are only going to be letting it out for a short time, it is likely you will need a Buy to Let mortgage.
Buy to Let mortgages are similar to residential loans, but there are some differences which our expert Advisers will be happy to talk you through.
Lenders will also want to see evidence that your rental income will comfortably cover your mortgage repayments. Being a landlord is not right for everyone, and entering into a Let to Buy arrangement should not be taken lightly. But if you are confident that you will get a decent rental income and can manage the responsibilities of letting out a property, this is a very worthwhile option. 
Let to Buy can be an option for those who want to purchase a new home whilst keeping hold of their current property and letting it out. As someone looking to buy a new property, it can allow you to release some equity from your current home and put it down as a deposit on your new one.
Let to Buy is also a popular choice for couples who move in together later in life, perhaps once they both already have their own properties. In this case, you might both move into one of the properties and rent the other one out on a Let to Buy mortgage.

What is the lending criteria for Let to Buy?

Like all mortgage types, whether you are choosing a let to buy mortgage for the first time, or refinancing with one, there’s a strict set of criteria to meet in order to be approved.
Many lenders differ, but here’s a standard list on what they may require:
• Minimum age: 25 (for most lenders)
• Maximum age: 75
• A large deposit (or equity), usually around 25%
• Monthly rental income of at least 125% of the mortgage interest
• Good credit rating
• To pass the individual lender’s affordability assessment
• Have net disposable and allowable income

What’s the difference between Let to Buy and Buy to Let?

Let to Buy and Buy to Let are both mortgages for those looking to let out a property, but work slightly differently. Buy to Let mortgages are for those looking to buy a property to let out, or remortgage one that is currently let.
Let to Buy differs in the sense that it usually means you are living in the property that you wish to let out then move somewhere else. So, you remortgage to a Let to Buy in order to release equity from your current property and provide the deposit for a new residential property. If you subsequently remortgage this property further down the line it would be treated as a normal Buy to Let remortgage as it is currently let out.
Please call us today on 0117 325 1511, for a free consultation with one of our expert Mortgage Advisers to discuss all the options we can offer regarding Loans and Mortgages.
Review taken from our 5* Google reviews.

What our customer say about us.

"I found this company very easy and straightforward to work with. I felt at all times my interests were the first consideration. brokerage and brokerage support spoke with one voice and deferred without hesitation to the person in the best position to answer my question. Amazingly patient people .
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.

THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE SOME ASPECTS OF BUY TO LET MORTGAGES

Exeter Mortgages Online
37a Fore Street
Topsham
Exeter
Devon
EX3 0HR
01392 690888
info@swmortgages.com

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