Whilst Buy To Let Mortgage Brokers, like ourselves, can generally offer a superior range of Buy To Let Mortgages and Buy To Let Remortgages we have seen an increasing number of Mortgage Brokers touting ‘free Buy To Let Quotes’. This practice seems to be an attempt to disguise a broker fee of up-to 1% of the loan amount. We at Landlord Mortgages do not charge a broker fee on the vast majority of our Buy To Let Mortgages and if we do it will not exceed £99.
Having been awarded a Buy To Let Broker of the Year Award in 2003, 2004, 2005, 2006 and 2007 we realise that our service dominates in the highly competitive Buy To Let Mortgage market.
You can browse our product range or use our Buy To Let Mortgage Calculator without giving your personal details.
When you feel it’s the right time to talk to us then give us a call on 0800 917 3324 and our friendly staff will help you.
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My personal views are well publicised so search the major online news providers such as BBC, Times Newspaper, Mail On Sunday,
Guardian and ascertain for yourself whether we are a credible company to do business with.
As an open and transparent business we welcome feedback so feel free to email me directly on leegrandin@lml.co.uk but please do not bombard me with requests for
Buy To Let Mortgage Quotes, that is the job of my Mortgage Consultants.
Our Mortgage Consultants can be contacted on 0800 917 3324 pressing option 1.
By Lee Grandin, Managing Director
Landlord Mortgages
Buy To Let Mortgages or
Buy To Let Remortgages remain keenly priced in today's market. Most Buy To Let Mortgage Companies are offering 90% Buy To Let Mortgages and in some cases 90% Buy To Let Mortgages with no minimum rental income. We at
Landlord Mortgages are being asked to compare an ever-increasing number of
Buy To Let Mortgages from an array of Mortgage Lenders. To find the best Buy To Let Mortgages has become a complex task and making the role of a Buy To Let Broker an important one.
Get Your Buy To Let Mortgage Calculator
Landlord Mortgages has now won ‘Best
Buy To Let Broker of the Year 2007 Award’. We are very proud of our achievement, and to be awarded a ‘Best in class’ award for
5 years running is absolutely amazing! Our ‘No Broker Fee’ and ‘In-House Underwriting’ service has truly given our landlords an edge in an ever-increasing competitive Buy-To-Let property market. We are able to demand the very best from Mortgage Lenders and deliver exclusive deals for both Purchases and Remortgages: –
90% Buy To Let Mortgages
85% Buy To Let Mortgages
80% Buy To Let Mortgages
75% Buy To Let Mortgages
2 year Fixed Buy To Let Mortgages
3 year Fixed Buy To Let Mortgages
5 year Fixed Buy To Let Mortgages
10 year Fixed Buy To Let Mortgages
2 year Discount Buy To Let Mortgages
3 year Discount Buy To Let Mortgages
Lifetime Tracker Buy To Let Mortgages
What’s the Best Buy To Let?
Our landlords will find this of no surprise:- The best Buy To Let properties are second hand properties and in particular the smaller units i.e. one bed flats and studio flats.
The Council of Mortgage Lenders backs the above assertion by stating that the rent increases on one bed flats are highest: -
After two years;
One bed flats gross rent increased by 13.27%
Two bed flats gross rent increased by 7.39%
Four bed detached gross rent increased by 3.23%
The most interesting assertion was that the two bed flat in a new build off plan development did not yield anywhere near the rental return or capital gain that many sellers claimed.
Dipping in and out of the Buy To Let Mortgage Market
At Landlord Mortgages we often see Buy To Let lenders such as Mortgages Express and BM Solutions dip in and out of the market. It seems that the powers at be suddenly get turned on and off and then make rash moves to justify their stance…. making jobs for themselves I say!!!
The giant HBOS mortgage lender (includes BM Solutions Buy To Let Mortgages, Bank Of Scotland’s Buy To Let Mortgages and The Mortgage Business Buy To Let Mortgages) has announced plans to concentrate on creating more first time buyers and not landlords by pulling back in providing Buy To Let Mortgages. They will offer more first time buyer mortgages rather than following the most recent trend i.e. offering 90% Buy To Let Mortgages. I suppose there’s no chance of BM Solutions offering a 90% Buy To Let Mortgage with no rental requirement!
Bank Of Scotland’s director announced recently that their future strategy would include enhancing equity share products so that any mortgage could have an additional share to it. He said this was not subsidising First Time Buyers but giving them 25% more buying power.
Why support equity share mortgages? Parents and first time buyer children overcome the affordability barrier by taking out equity share mortgages.
Another leading Buy To Let Mortgage lender countered HBOS by stating ‘Why should a 21 year old have an automatic right to get on the property ladder?’
In support of the Buy To Let market is the fact that the UK rental market still lags behind its equivalent in Europe and this is the facility that we should be supporting, rather than increasing young people’s debt.
A leading Buy To Let Mortgage lender also stated ‘stuffing debt down young people’s throat is not the way’.
What is Buy To Let?
Low interest rates in recent years have made
Buy To Let Mortgages
more affordable, and a strong rental market has made this type of investment attractive compared to more conventional types of investments. Buying property to let has become increasingly popular to the UK investor.
The 1988 Housing Act abolished ‘security of tenure’ for tenants. From this point it became easier for Landlords evict problem tenants. The housing crash in the early 80’s increased the number of tenants, as people lost their homes and were repossessed.
In 1995
ARLA launched buy to let. Prior to this date lenders charged commercial mortgage rates on loans taken out to buy property to let. This is no longer the case.
From the mid 90’s there has been a rapid growth in the property market leading to a surge in demand for rental property. Mortgage Lenders have been keen to encourage new amateur landlords. Since 1997 The Council of Mortgage Lender has collected statistics on buy to let and has reported that the apparent growth in
buy to let mortgage lending is attributable to the success of broker led specialist lenders. Specialist lenders have been offering bespoke products to mortgage brokers in order to satisfy the buy to let demand. Today as much as 50% of activity is remortgaging as established landlords switch from more expensive
Buy to Let Mortgages, news of today's best
Buy To Let Remortgage rates.
Most importantly buy to let should be viewed as a long term investment. You hope that the rental income generated by letting the property to tenants will at least cover your mortgage payments but aim to provide an addition to your personal monthly income. Whilst there is no guarantee that you’ll make a profit from this type of investment it is the main driving force behind buy to let. Most investors are looking to the long term and will sell the property or properties to realise a capital gain. On a positive note growth potential remaining in the sector is clearly evident by the following statement. The private rented sector remains predominately under geared with only 19% of the 2.7m properties mortgaged.
