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From Monday 12 April 2021, our branch opening hours will be: Monday to Friday 9am – 3pm and Saturday 9am to 12pm. Branch telephones will be open Monday to Friday 9am to 4.30pm.
Our telephone opening hours at Principal Office are 9am – 6pm Monday to Friday and 9am to 12pm on Saturdays.
Please note visitors to our branches and Principal Office will be required to wear a face covering.
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When you buy property as an investment, you won’t be able to fund your purchase with a normal residential mortgage. Instead, you’ll need a specialist buy to let mortgage.
Many buy to let mortgages are provided on an interest only basis. So in the short term, your outgoings will be less each month, but you’ll need to pay off the full loan or refinance at the end of your mortgage term.
You’ll need a deposit of at least 25% of the value of the property. The bigger the deposit you put down, the better the rate you may be able to get.
The amount of rent you can charge depends on the type of property you choose, how you furnish it, who you are attracting as tenants and the market at that time.
There are three types of buy to let mortgages:
Regulated buy to let
This type of mortgage is for a property that you or a member of your family will occupy either now or in the future.
Consumer buy to let
These are mortgages for people who let out a property, but did not plan to and have become ‘accidental landlords’.
It happens when the property has been inherited or when the owner, having previously lived in the property, is unable to sell it and chooses to let it out.
Business buy to let
This buy to let mortgage is suitable for when you purchase property purely as a commercial decision to generate income. If you wish to invest in a holiday home or property to take advantage of holiday rental rates, we also offer a Holiday Buy to Let mortgage
To book an appointment please call 01664 494100 or take a look at our Mortgage Advice Bureau website where you can also see the latest deals, access mortgage calculators, meet the team, get expert advice and much more.