Buy to let mortgages are only suitable for people who want to invest in property. They are usually interest only, meaning that none of the lump sum is paid off until the end of the mortgage, when it is repaid off in full. The maximum amount that can be borrowed is linked to the rental income of the property being mortgaged. It is therefore very important to know what your rental will be.
A number of factors can affect a property's rental value and the value can change depending on current market conditions. CB Lettings can offer you a free Valuation of the likely rental income of your property. We have access to a wealth of market information which we can use to give you an accurate rental value. Please contact the office for more information.
It is important to speak to a mortgage broker before you take out a buy to let mortgage as they will help you choose the most suitable mortgage deal.
For more information on mortgages please contact P.I.M Financial Services. Click on the link below for further details: