Are you thinking about trying your hand as a landlord? Or are you a seasoned property investor looking to expand your portfolio? Whichever you may be there is little doubt now is a great time to be considering your options. Our research can reveal that not only are there a record number of deals available they are getting cheaper and cheaper by the day. This month alone has seen the number of new buy-to-let (BTL) mortgages available increase by 8. This just goes to show how much importance the lenders are placing on this type of business. Just 2 years ago 450 types of BTL mortgages were available, now this figure has risen to a staggering 740 and our research shows this trend will continue. More people are looking at this area of investment due to the poor returns traditional savings accounts are currently offering. We are seeing existing clients in this area re-mortgaging to raise capital to increase their portfolios. One of our regular clients said “I have just re-mortgaged two of my properties and saved over £200 a month plus I raised enough capital for a deposit on a new property.” “With property values increasing every year I will be reviewing all my current deals as they expire,” Which deal is for you? With so many products on the market it is imperative that your research is thorough and meets your longer term needs. One thing to be very aware of is the really “cheap deal” that looks good on paper but might not be cost effective over the longer term. Most important as well is to consider if you want to fix your rate and if so for how long. With so many things to consider it is advisable to seek professional help as a wrong move now could cost money in the future. Can we help? If you would like assistance with your buy-to-let mortgage please do give one of our expert advisers a call. We have years of experience and look forward to being of assistance to you.
