Buy to Let
Whatever your strategy, investing in property can both be exciting and financially rewarding.
There are so many options when it comes to investing in property, whether you want to just buy the one for long term capital growth, thinking about your retirement, or, if you want to be ambitious and build a portfolio of 10 properties as fast as you can. Whatever you decide, we’re here for you!
Your Buy to Let knowledge hub
I would highly recommend Sam and the Warrington Mortgage Centre.
Sam was able to help us navigate through both a buy to let mortgage and got us a great deal on the purchase for our home in Leicester even with the current market conditions caused by Covid. Sam and the team were always professional, friendly, flexible and willing to go the extra mile to help. Rick & Linda
Having just had the help of Ray from Warrington mortgage centre – for the third time in two years
I have to say the service is 5 star. I didn’t have to get off my seat for this one. Which is handy during the Covid-19 crisis. Smooth, hassle-free service which I would recommend to everyone. Give them a call. Jim
I couldn’t recommend Sam highly enough
He made our remortgaging process a breeze and got us a much better deal than we expected. I will definitely be recommending WMC to friends and family.Simon
How to get started with my Buy to Let
We’ll find the mortgage – Made for You!
Tell us how we can help you with your purchase, and we will set you up with your own Mortgage Hero (that’s what people call us!)
Your local mortgage advisors
We’ll be there, holding your hand throughout the process. We’ll make sure that we take care of all your paperwork, and make sure you’re kept up to date with your chosen lender, surveyor & solicitor. We will make sure that you know all the figures so you can be focusing on the rental yield and any improvements you want to make to the property.
Before you know it, you’ll get the keys to your Buy to Let. Our entire team and your dedicated mortgage advisor will have found the perfect solution and we’ll be calling to say congratulations! As part of our ongoing services we’ll also help you understand opportunities within your assets that may help you grow your portfolio further.
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What is a Buy to Let Mortgage?
Buy to Let mortgages are for Landlords that want to buy property to rent out to a tenant and generate an additional income.
Buy to Let mortgages do have a lot of similarities to a standard mortgage (you’ll find that most lenders will have some form of Buy to Let mortgage product), though there are a few things around the criteria that are different.
For example, Buy to Let mortgage affordability may be assessed on how much Rental Income can be generated, rather than the amount of money you earn. The product fees and interest rates tend to be a little higher than a standard mortgage and it’s usually easier to have these mortgages on an Interest Only repayment basis.
How many Buy to let mortgages can I have?
If you’re looking to invest into a large portfolio, the chances are you’ll need some support from lenders along the way.
Each lender has a set criteria on their exposure with a landlord, some high-street lenders will only allow you a maximum of 3 mortgage Buy to Let properties, others may allow up to 10. But there are some specialist lenders that can support you much further than this with no maximum number of mortgages, they might just limit how much they will lend you, but we’re talking in the region of millions.
Can I Buy to Let as a First Time Buyer?
It is possible! We’re getting asked this a lot recently where younger generations have funds to invest but are not quite ready to fly the nest just yet.
A lender may look at a case like this in a slightly different way. Sometimes they will till work from the rental calculations for the affordability, but some of the high street lenders will still run a full affordability assessment on the person applying for the mortgage – as if they were to buy it to live. This is just to ensure that rental voids can be covered from earned income.
Can I remortgage my main home to raise a deposit for a Buy to Let?
Yes! Most lenders will allow you to remortgage your main home and capital raise the deposit needed in order to Buy to Let. You’ll need to double check you have sufficient Equtiy within your home, the affordability stacks up and that the money raise is enough to put down as a deposit.
This is one of the most common ways that we find people do in order invest into property for the very first time.