Commercial Buy To Let Mortgage
Commercial Buy to Let Mortgage Service
Why choose us?
Fair Mortgages can provide you with a first class service if you are looking for buy to let mortgage advice.
Special features of what we offer include:
- Whole of market broker - we deal with most UK buy to let lenders
- Rates - Access to leading buy to let market rates
- Exclusives - Access to exclusive buy to let mortgage deals not available on high street
- Our BTL Experise - Expert help whether you are a first time investor or full time landlord
- Credit Issues? - We have lenders who will take into account previous defaults and missed payments
- Experienced BTL 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.
"The essence of the Fair Mortgages buy to let service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support."
As your buy to let mortgage is such an important transaction, good advice is imperative.
Commercial Buy to Let Mortgage
A commercial Buy to Let mortgage could refer to a mortgage on a commercial property; this could include shop fronts, warehouses, takeaways, offices or restaurants that is designed to be let out to another business or individual.
Getting a Commercial Buy to Let Mortgage
As with getting any sort of mortgage it is a good idea to shop around different providers to try and get the best buy to let mortgage deal for the type of commercial property you wish to purchase. Not all lenders who offer commercial buy to let products will lend on all commercial properties, so you will need to find one which does.
About buy to let
If you are unfamiliar with buy to let or investment mortgages, you will find there are a few key differences from residential mortgages.
Commonly residential mortgage lenders calculate a prospective borrower’s affordability upon their income and outgoings. This is not usually the case with buy to let properties however, instead they tend to base affordability on the actual rental value of the property, often requiring the estimated monthly rental yield of the property to be at least 125% of what the monthly mortgage payments would be.
With buy to let the borrower is normally required to put down a larger deposit than would be necessary with a residential mortgage of the same size. With lenders commonly requiring the borrower to put down at least 25% of the property price, however this varies and some lenders may offer buy to let mortgages with lower Loan to Values (LTV).
As lenders perceive lending on a buy to let basis as being higher risk than residential lending they are usually more expensive. As such you may find that both the arrangement fees and interest rates available to you are more expensive than what you would be paying on a mortgage for a property you intended to live in yourself.
Many lenders require applicants to already be existing homeowners, with or without a mortgage. Some lenders also only grant buy to let mortgages to individuals who are currently existing landlords or have previous experience in letting out property; however, there are a range of providers who do not have this requirement.
Even though buy to let mortgage affordability is usually calculated upon the rental income of the property, many lenders still have minimum income requirements for their applicants.
Using a mortgage adviser
If you looking for a buy to let mortgage, you may find it helpful to enlist the services of an independent mortgage adviser, in addition to giving impartial advice, advisers that offer a whole of market service can use their professional knowledge of the industry to search across the market to try and find the best deals for their clients.
To find out if Fair Mortgages could help you, fill in our online contact form to request a free initial consultation at a time that suits you. Alternatively you can call directly on: 0117 403 4474