Mortgage Services
Buy-to-LetBespoke Buy-to-Let Solutions Tailored to You
Whether becoming a landlord for the first time or expanding an existing portfolio, you will need a Buy-to-Let mortgage rather than a standard residential mortgage. This type of mortgage is specifically for people buying a property to rent out to tenants.
Coombes & Wright Mortgage Solutions help you arrange a bespoke Buy-to-Let solution tailored to you. Our team has over 180 years of combined property and mortgage industry experience. We have helped and advised thousands of investors and happily share our knowledge.
Contact our expert team today to find out more. Not all Buy-to-Let Mortgages are regulated by The Financial Conduct Authority.
Our CWMS Team
Coombes & Wright Mortgage Solutions is an award-winning mortgage & protection broker providing local, flexible, friendly advice. We have offices in Brookmans Park, Hatfield, as well as Abbots Langley, St Albans and Chestnut in Hertfordshire, London and Dover and Canterbury in Kent.
Our team has over 180 years of combined property and mortgage industry experience. Jointly, we have helped and advised thousands of people at all levels of the property ladder. We pride ourselves on personalised service, exceptional customer care and a friendly approach.
Important Information
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Frequently Asked Buy-to-Let Questions
How do Buy-to-Let mortgages differ from residential mortgages?
- Interest rates are usually higher on buy-to-let mortgages compared to residential.
- Whereas for residential mortgages, your deposit could be as little as 5% of the property value. Buy-to-let mortgages generally require at least a 15% deposit.
- The amount you can borrow for a standard mortgage is linked to your income. For a buy-to-let mortgage, lenders consider the potential rental income.
Should I take out a Buy-to-Let mortgage in my name?
For today’s generation of Buy-to-Let property investors, possibly the single most crucial question to answer is whether to invest as a private individual or through a limited company. There are several considerations, advantages, and limitations for both options. During your consultation with our qualified advisers, we use our financial expertise and industry experience to help guide investors to products that match their overall investment goals.
What are the considerations for a Buy-to-Let mortgage?
Buying a property to let can be an excellent financial investment. However, you need to consider many factors:
- Will the property be easy to sell in the future?
- Will good tenants be easy to find?
- Have you had a reputable agent confirm the potential rental income?
- Can I manage the mortgage repayments if the property is empty?
- What are the costs of keeping the property in good repair?
- Will the rental income be enough to cover the mortgage if interest rates rise?
- Are you aware of the tax position for both income and capital gains when you come to sell your property?
What is a Let-to-Buy mortgage?
Let-to-Buy mortgages are an option if you are having trouble selling your property. They allow you to let out your property whilst looking for a buyer so that you don’t have to sell in a rush and potentially lose on the sale.
Suppose you have enough equity in your current property to remortgage and allow you to put a deposit down on your new home. In that case, you can move without feeling pressured and use the rental income on your existing property to cover the original mortgage cost.
This type of lending tends to be only on a temporary basis. If you want to let out a property long-term, you will need to look at taking out a Buy-to-Let mortgage.
CONTACT COOMBES & WRIGHT MORTGAGE SOLUTIONS
Get in touch with us today to learn how we can provide you with flexible and friendly mortgage and protection advice.