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

Suitability: The repayment mortgage option is suitable in a number of circumstances the most common being those identified below: You do not like to expose yourself to too many financial risks

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It occurs when the seller accepts a higher offer from another buyer after already having accepted yours

Disadvantages: Holders of a Mini individual savings accounts cannot take out a Maxi, and vice versa

Until the arrival of flexible mortgages most, if not all, UK lenders were charging interest on an annual basis which meant that borrowers making over-payments were not getting the benefit straight away because it could be a year before the capital was reduced by the over-payment

Disadvantages: The final value of the policy may not be entirely sufficient to repay your mortgage or the monthly premium may have to be increased later on in the term of the mortgage to compensate for poor returns

The APRs quoted by the lender will usually be typical rates, and these act as a guide only as the exact rate offered will be on an individual basis

The Association of Residential Letting Agents (ARLA) says most landlords should be able to obtain gross rent equivalent to between 130% and 150% of the rental propertyıs mortgage repayments (interest only)

Location, location, location What local amenities are there? What are the local schools like? - A good school catchment area may effect property value

Repayment Mortgages UK

We are experts in finding mortgages and loans for people with a problem, or poor credit history

A good starting point is to offer around 5% to 10% less than the asking price, although this greatly depends on market conditions

Buy to let has become an attractive investment option for many people as soaring house prices, increased demand for rental property and better legal protection for private landlords has made buy to let fast growing area of the mortgage market

This method of repayment is the least risky and is often considered suitable if you want guaranteed repayment and prefer to see the amount owed to the lender decline each year

Ask about the sellers position