• If you own properties that you do not live in, you could be earning money by letting them out. The minimum you can expect from this is to at least cover costs, i.e. the mortgage (if there is one) on the property.
    You may be forced to let a property out because you cannot sell it or it may be a business decision and part of a property portfolio. Either way, MAP has advisers who are experts in the buy to let market and can help you.

Buy To Let Mortgages

Buy to let mortgages enable someone to borrow money from a lender to purchase property, only to then let it out. Their popularity has risen due to the property market downturn, as they can help people to move home without selling.

With many lenders now either looking for at least a 20% deposit or not offering interest-only terms on residential mortgages, the number of properties let out will only rise.

Others interested in buy to let mortgages are those who earn a living in the property market by buying, renting out and then selling when the time is right. Some lenders prefer customers with a property portfolio, so having several buy to lets has added benefits.

If you are looking to become a landlord, you will need the almost minimum 20% deposit to start. Research is a must, in terms of geographical area, property type and whether or not the property is furnished. If furnished, landlords get a 10% deduction of net rent from HMRC.

Some landlords make good returns from property investments, to the extent that it becomes a substitute for a pension. So whether you have a portfolio of properties or are just starting out in the market, contact us today and our mortgage experts can guide you.

Your home may be repossessed if you do not keep up repayments on your mortgage.
As we are independent, a fee will be charged for mortgage advice. The precise amount will depend on your circumstances but we estimate that it will be £400.

The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages.

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