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Online buy-to-let mortgages in the UK

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Buying a property is the biggest financial decision most of us will ever have to make. Like most things financial, the mortgage industry is peppered with jargon and arcane products, and finding your way to the mortgage you need can be difficult – never more so than in today’s troubled times.

On this site we mainly look at buy to let mortgages and the options that you have with them. We have a range of insightful articles and advice that are sure to help you on your quest to purchasing a property.

A buy to let property is often an obvious choice for first time buyers because it means that they are supported in paying the mortgage to a certain degree. It also makes an ideal investment option especially when buying property overseas.

Here we offer information on the various types of mortgage available, along with tips on how to get the best deals. Find out about adverse credit mortgages for people with less than perfect credit histories, self certified deals for those with no proof of income, and even mortgages for landlords under Buy to Let deals.

Whether you are a new home buyer or an experienced landlord you will find something of use on our buy to let mortgage website.

Buy-to-let mortgage advice for buyers

Also, for personalised advice, we can connect you with a mortgage advisor who will help you explore your options and arrange for a quote. Have a look around our website and get in touch for more information.

Disclaimer: Please note that all information on this site is for a general readership and does not constitute financial advice. Consult a mortgage advisor for help tailored to your personal circumstances.

what is a mortgage

it is simply a loan that is taken out with a bank in order to buy a house
the loan is secured against the value of your house. this makes sense, the bank is lending you hundreds of thousands of pounds then they need some security. So if you cant pay the mortgage then the bank takes your house, known in the lingo as “reposessing” and then can sell it to make back the money that you owe them and were unable to pay.
most mortgages run for about 25 years.
where can you get a mortgage?
a bank or a building society.
there are many checks that the bank or building society that lends you the money will do to check that you are able to pay the monthly mortgage.
loan to value
this sounds complex as much of the terms related to taking out a mortgage are, but it is a simple concept in reality. this all relates to the size of the deposit, the lowest interest rates on mortgages are based on the largest deposits, so if you have 40% of the value of the house as a deposit then you will pay less of an interest rate. so ideally you want to have this as high as possible.
this also means that you immediately own 40% of the property and the bank owns the remaining 60%, this is obviously a much better situation to be in than lets say having a 10% deposit and the bank therefore owing the remaining 90% of the house!
saving money for a deposit is one of the great challenges of buying property.
there are several types of mortgage
  • repayment mortgage
you pay the interest on the loan and the amount lent
  • interest only mortgage
when you only pay the interest on the loan and not the main amount lent

 

Resources:

Commercial mortgage resource:

http://www.uk-commercial-mortgages.net/resources.html

The Guardian Newspaper’s take on mortgages:

http://guardian.lcplc-online.co.uk/bestbuy.aspx

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Mortgage comparison:

http://moneyfacts.co.uk/compare/mortgages/

Sales guidance for landlords:

https://www.gov.uk/government/publications/mortgage-sales-guidance-for-local-authorities-and-registered-social-landlords

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