The best buy to let mortgage is the one that is tailored to your individual circumstances. At buytoletbroker.com we take the time to carefully listen to our customers needs, and only then will we get in touch with our panel of mortgage lenders and begin negotiating on your behalf. We have access to 100's of buy to let schemes and our team of experienced brokers can provide free and impartial advice.
In fact, we are so confident that we can find you the right buy to let mortgage; that we provide a five step guide to help you assess the competition:
Step One: The Annual Percentage Rate should be the single most important criteria when looking for a buy to let mortgage. However, there's more to finding a good mortgage than the ARP alone. Bear in mind that lenders are often only able to offer low APRs if they can recoup the cost elsewhere, for example: by charging considerable arrangement fees or levying stiff redemption charges. Don't be seduced by solely by an attractive ARP, but weigh it up with the following considerations.
Step Two: Fees vary greatly form lender to lender; so make sure you know how much you are being charged before you make any decisions. Brokers typically charge an arrangement fee (we charge just one percent; which is already included in the mortgage offer) and there may also be property valuation and legal fees to consider.
Step Three: Choosing the right type of mortgage is the key to building a successful buy to let portfolio. At buytoletbroker.com we have access to the full spectrum of mortgages, including fixed rate, flexible, discounted, SVR, capped and LIBOR. Customers can check real-time rates and the latest mortgage offers with the help our interactive mortgage finder .
Step Four: Most buy to let mortgages carry early redemption charges and it's essential that you know exactly what they are and how long they apply. You may not envisage selling your property quickly; but a 5% charge might mean that you miss out on a great investment opportunity. After all, not all successful buy to let investment need to be long-term ventures.
Step Five: Make sure that you are dealing with a name that you can trust. It's difficult to put a price on the peace of mind that you will get from working with a company that adheres to a strict code of practice, such as that provided by the National Association of Commercial Finance Brokers.