We are in independent, whole of market, mortgage brokerage. This means that we have access to all of the main stream lenders up and down the country, from the well known names such as Natwest and Halifx to the lesser known Newcastle building society or intermediary only lenders such as Clydesdale. We do this in order to gain the very best deal for you, answering only to you.
Mortgage rates are constantly changing and competition between lenders means there are some great deals to be found, whether this is your first investment property or you have some existing - it is essential to source the best rate to maximise your bottom line.
You will need to consider if you prefer an interest only mortgage, to receive the net profits now OR a repayment mortgage to reduce the size of the loan over time - this can be altered upon remortgaging. If you prefer fixed rates to know exactly what is due each month or variable to take a chance of the future markets.
What ever your decisions, you will need to ensure that your rental income will comfortably cover the mortgage repayments, due to stricter lending rules introduced over recent years for sensible lending.
By 2020, all rental income will be taxed the same as your standard income at the relevant bandings. Upon purchasing a BTL property, you will also incur an additional 3% stamp duty on top of residential stamp duty for the entire price of the property.
When we come out to visit you in your home for your free appointment at a time which suits you (until 9pm weekdays), we will discuss exactly what it is you need, the different options available and how we can help achieve them.