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Fair Mortgages can provide you with a first class service if you are looking for the best buy to let mortgage rates in the UK market.
To use our service you can:
- Contact the lender direct on the free phone numbers provided
- If you need independent advice, call us on 0117 403 4474
Special features of what our advice service offers include:
- Whole of market broker - we deal with most UK buy to let lenders
- Rates - Access to leading 2 year and other buy to let market rates
- Exclusives - Access to exclusive buy to let mortgage deals not available on the high street
- Our buy to let expertise - Expert help whether you are a first time investor or experienced full time landlord
- Credit issues? - We have lenders who will take into account previous defaults and missed payments
- Experienced buy to let investor? - Have a complex buy to let or have a portfolio of 5+ properties? - speak to us
To investigate your buy to let mortgage options, call our specialist team on 0117 403 4474 or fill in our call back form.
Buy to let mortgage tax rule changes
From 2017, landlords can no longer deduct the finance expenses from their buy to let properties when calculating their profit from the financial year. It is important to note that these new rules do not affect limited companies. As a result, more private landlords are setting up limited companies. However, there are some associated costs that come with setting up a limited company that should be considered.
Due to the new tax changes, it is vital for landlords to find a way of reducing their outgoings. Finding the best mortgage rates may be one of the most efficient ways to reduce the cost of their buy to let properties.
From 2017, further changes to how buy to let mortgages are regulated will be implemented that may make it harder for landlords to secure buy to let mortgages.
Firstly, to secure a buy to let mortgage from a lender, landlords will need a rental coverage ratio of 145% for a standard buy to let property and 170% for a house in multiple occupation.
Secondly, before granting a buy to let mortgage, lenders will review the landlord’s entire property portfolio to ensure all of their properties are profitable. Therefore, if one or more of the landlord’s properties are not profitable, then the lender will not provide a buy to let mortgage.
Finally, to ensure landlords can make mortgage payments, lenders will implement a stricter stress test. This means that lenders will only provide a buy to let mortgage if a landlord can make repayments in the event that interest rates increase to 5.5%.
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If you require a buy to let mortgage, it is advisable to contact a specialist property finance broker.
To find out if Fair Mortgages could help you, you can fill in our online contact form or call us directly on: 0117 403 4474.