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First Time Home Buyers Buying your first home can be a daunting proposition

Buy To Let Mortgages Buy To Let mortgages are taken out to buy a property for the sole purpose of letting as an investment. These are normally second mortgages. The rates charged on second mortgages tend to be about 0.5% to 1% higher than first-home mortgages, so it is likely that you will pay more for your loan on a Buy To Let Scheme. This is due to the nature of the loan, which is considered a higher risk for the lender. Lenders also tend to require larger deposits as most will lend only 75% of the property value though some may go as high as 85%. You are required to meet certain criteria, which vary from lender to lender, but fundamentally your application will be based on 1) Your income versus all existing loans. 2) The anticipated rental income covering a certain percentage of the loan interest payment. 3) Plus the normal credit checks etc.

Variable Rate Mortgages

Advantages: Monthly payments can adapt to the level of monthly income you receive

We also hold the details of loans designed specifically for applicants with a poor credit history, and we provide the facility to apply online for these through moneysupermarket

The rate will also provide a buffer against increases in the interest rates

Most recent mortgage statement or a redemption statement from your lender

Your local agent can give you a good idea here

Check this out with your solicitor or lender

Most recent P60 Whilst the banks and building societies will all have different specific requirements these are usually required in all circumstances

In this, the seller agrees to a period during which they promise not to enter an agreement with anybody else

Arriving at the property Before knocking, take a few moments to observe your first impressions

Not many of us are likely to do it, but it can give you a good idea of what your possible future neighbours may be like

In either case the difference will need to be found before completion

A flexible mortgage linked to a current account

Tree preservation orders

Written quotations are available on request

Obtaining quotes for conveyancing is simple

The differential between base and pay rates remains constant for an agreed period and is normally far smaller than the margin on an ordinary variable rate

Setting the completion date The standard time between exchange of contracts and completion is four weeks

Buy to Let Mortgages