Buy to Let Mortgages
Buy to Let and Investment Mortgages
AKP are well versed in structuring finance for the property investor. Whether a client is an experienced purchaser of buy to lets or a first time buy to let buyer, AKP can supply the appropriate loan. AKP can access products offering up to 95% of the price of a second property at residential interest rates.Buying a property to let is being increasingly considered by all types of buyers. People now see property as an important part of their overall investment portfolio and frequently see it as an alterative to traditional stock market linked pensions. The workforce has also become flexible, and the need for individuals, businesses, and families to move with ease is vital. Attitudes have also changed with many young people renting rather than buying. Buy-to-Let is a joint initiative between Letting Agents and Mortgage Lenders. It is designed to help private individuals invest in property to let without paying commercial rates of interest.The amount a client can borrow is normally linked to the expected rental income, so the ability to borrow is not necessarily based on personal income. The amount of a loan is normally based on an ARLA (Association of Residential Letting Agents) registered letting agents confirmation of the expected rental income. This income would normally need to cover the mortgage payments at the lenders standard ‘Buy to Let’ rate by a factor of between 125 – 150%. There are products for clients who wish to create a portfolio of properties, and AKP can often help to arrange a preagreed facility with one lender. This gives flexibility for the client to purchase several properties under one agreement, and allows lower rental yields on some properties to be offset by others that have higher yields.
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