Buy to Let (BTL) mortgages have become increasingly popular since the property boom of the 1990s. The enthusiasm in the UK for BTL property has affected the types of mortgage offered so more variety is now available. The type of company who offers loans for investment in the UK has also been affected.
Previously, those BTL properties were purchased without borrowing, or by using commercial finance deals. But as more people are buying properties to rent so more loans for investment have become available.
The investor needs to be fully aware of the commitment they are making. We believe it’s our job to guide investors because the purchase is one small part of buying a BTL property.
Investors must also evaluate rental income and the likelihood of an increase in property value. We ensure investors also consider periods without tenants and the cost of rent arrears.
BTL mortgages are not regulated by the Financial Conduct Authority. But at A Miller Financial we believe they need the same consideration as any other mortgage.
We make sure that customers understand all the benefits, and pitfalls, of purchasing a property for investment.
A fixed rate mortgage means your mortgage repayments are protected from an increase in interest rates during the term of…Read more