Buy To Let

Buy to Let mortgages work slightly differently than residential mortgages. To allow greater flexibility, generally a 25% deposit will open up options and allow access to more preferential product rates. Some specialist lenders offer mortgage products with less than 25% deposit, however expect higher interest rates. 

A repayment mortgage will reduce the mortgage capital over time, an interest only product will have no impact on the mortgage capital, resulting in the total mortgage having to be repaid at the end of the mortgage term. Each client has individual circumstances that we tailor our advice around. 

A buy to let mortgage product does not necessarily factor in your personal income and outgoings for mortgage affordability. Lenders stress investment plausibility based on personal tax band, mortgage product and the rental income received. 

Additional stamp duty is payable for buy to let properties and/or second homes. The stamp duty bandings are ever changing so it is always best to check the calculations before you purchase. 

A portfolio landlord is generally considered as owning 4 or more buy to let properties. At this point, more specialist lenders are usually needed. James Wong Mortgages can discuss short and long term investment strategies, ensuring you are maximising your portfolio's potential.  

Please be aware that not all buy to let mortgages are regulated by the financial conduct authority.