buy to let, mortgage uk

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Buy To Let Mortgage Buy To Let mortgages are taken out to buy a property for the sole purpose of letting as an investment.

Take the time to get up a little earlier and start your school or office run from the intended property

It is possible that your investment may provide a surplus lump sum or pay off your mortgage early

You only get this if you qualify for income support

The fixed payments are based on the amount of the loan together with the mortgage term and are designed so that, at maturity, the amount invested and earnings are sufficient to pay off the mortgage

The second influence on the amount you can borrow is your current level of income

If a person has a County Court Judgement against them it will have to be satisfied before they can get a mortgage

Normally a lender will require a non-refundable booking fee in advance to reserve this option

Contents insurance can provide cover for all your household contents - furniture, carpets, curtain, pictures TV, hi-fi, personal possessions etc

This is more likely to occur within the first 3-5 years of the mortgage term and more common with discounted, deferred or fixed mortgages

Preliminary Observations Ask about the cost of council tax and utilities with the seller

Exposure to interest rate rises

Your mortgage lender will insist on a property survey before approving your mortgage

Survey costs The cost will vary according to how thorough a survey you require (from £300 - £800 on average)

Replacing any damaged, lost or stolen items on a new for old basis

You should never assume that because a lender is prepared to agree a mortgage on the property that the purchase price is reasonable or there is nothing wrong with the property itself