Buy To Let Mortgages
Although the housing market will always have it’s up’s and down’s, buying property has always proven to be a good investment.
Although buy to let isn’t quite as straightforward as it used to be with a number of changes around stamp duty and tax, it is still a very popular market. There are a number of options with regards to the strategy – single let, house of multiple occupation (HMO), serviced apartments. Some people are now buying BTL properties via a special purchase vehicle (limited company) for tax purpose.
A couple of things to keep in mind with buy to let mortgages:
- Minimum deposit of 25% of the purchase price however we do work with a lender that does now allow 20% deposit on buy to let mortgages.
- Additional 3% second property stamp duty to pay on the full purchase price for properties of £40,000 or more.
A buy to let mortgage will be secured against your property
Some types of buy to let mortgages are not regulated by the Financial Conduct Authority