Buy to Let Mortgage Advice in Essex

Throughout our time working in the industry as a Buy to Let mortgage broker in Essex, we have helped countless landlords in securing mortgages of their own for their investment properties.

Whether you’re looking to take a mortgage out on a regular residential buy to let in Essex, a holiday let, or a HMO, our open & honest expert team of mortgage advisors in Essex will be happy to take a look at your circumstances and find you a suitable mortgage deal.

This it the Buy to Let option that we find is the most common when speak to customers. A residential Buy to Let in Essex is exactly what the name suggests, that being a residential property that you take a Buy to Let mortgage on, with a view to rent it out rather than live in it.

Most borrowers who are looking to get a Buy to Let in Essex will choose to take out their mortgage as interest-only. The reason for this, is because you’ll only be paying interest, your monthly payments will be lower. This amount will typically be covered by the monthly rent you charge on the property. Once your term ends, you will have to pay back all of the capital.

A house in multiple occupancy is a term that is used to explain houses with multiple tenants residing within the same property, typically with shared areas. This is most commonly seen with student housing.

Depending on the size of your home, you may need a license from the council. In order to make sure you are aware of the legalities, we would recommend speaking with the local authority in advance.

Because HMOs are deemed to be specialist purchases in the world of Buy to Let mortgages, you’ll find that not all mortgage lenders will have products available for you. Luckily we have some on panel who are willing to lend to customers who are looking to take out a mortgage on a HMO property.

HMOs will typically bring in higher yields than than other standard Buy to Let investments will, though you have to be wary of other costs, such as license fees from the local authority and the regular general maintenance and upkeep involved with such an investment.

We are starting to find that more and more landlords are exploring their potential options for purchasing their investment properties by way of a limited company SPV (Special Purpose Vehicle), especially when it comes to landlords who perhaps have a much larger Buy to Let portfolio.

As a standard rule of thumb, taking out a mortgage with your limited company will mean that you will have to pay a much higher rate of interest, and there will be less options when it comes to products on offer from a mortgage lender. Once again, we have lenders on panel who will work with these types of purchases.

A positive side to this, could be the benefits regarding tax, though you should speak to a qualified tax advisor to learn more about this.

Holiday let mortgages are properties that will generally have more frequent, shorter term tenancies with a variety of people over time. You’ll generally see these near places that are popular for tourists, with properties varying from lodges, to chalets.

A holiday let is once again deemed to be a specialist type of Buy to Let investment, so again, not all mortgage lenders have available products for this mortgage type. On the flip side though, we do have a lot of experience in working with holiday lets, so we may be able to help.

If your situation does not match anything mentioned above, worry not as we may still be able to help. Book your free mortgage appointment today and we’ll take a look at what you’re trying to achieve, working hard to further your chances of mortgage success on your investment property.