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YOUR INVESTMENT STARTS WITH A BUY TO LET MORTGAGE
The rental market is booming. So if you’ve got a deposit ready and you’re eager to start investing in rental property to help secure your financial future, then a buy to let mortgage is the first thing you need to consider. But how to get the best one for your needs? New Mortgage Solutions can help you there. We have the knowledge and expertise to always help you find the most suitable mortgage rate. For a FREE initial consultation today or complete the form alongside for a call back.
Some forms of Buy to Let Mortgages/Commercial Mortgages are not regulated by the Financial Conduct Authority.
Think carefully about securing other debts against your home or property. Your home or property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.
There may be a fee for mortgage advice. The exact amount may depend on your circumstances.
New Mortgage Solutions Ltd is is an appointed representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority.
The Right Mortgage Ltd, Registered address: St Johns Court, 70 St Johns Close, Knowle, Solihull, B93 0NH. Registered in England & Wales. Company No. 08130498.
THERE ARE OPPORTUNITIES TO BE HAD
Housing prices continue to rise, which is why the rental market continues to expand. There are opportunities here for the budding investor but you need to get the right mortgage deal first. This is where we come in. With access to all kinds of mortgage options and our promise to manage the whole process from start to end so you don’t have to, we can make the process of finding that mortgage deal easy and fast. And we can even go a step further and help you out with landlord insurance too. Whether it’s a single property you’re looking to take on or multiple properties, we can help you take first step.
WHAT’S THE CRITERIA FOR GETTING A BUY TO LET MORTGAGE?
Before we start looking at mortgage options, we need to talk about criteria. Lenders have more exacting standards when it comes to offering mortgage deals on buy-to-let properties, the first and primary one being rental income. How much you’re looking to charge on that rental property will be a factor in whether or not the lender offers the right mortgage option.
There’s also the deposit. Do you have one? Is it viable? Lenders will also look at your age too and your borrower status. If, for example, you’re just coming out of your teens and you’re a first time buyer, some lenders may have reservations about your ability to keep up with repayments. They’ll also look at where you’re based. If your primary residence is outside of the UK, for example, you may find that some lenders will rule you out. There are also credit and tax issues that need to be considered as well.
But that’s where we can make a difference for you. With 34 years in the sector, FCE accountability and an over 150 5* reviews across Google, Yell and Facebook, we know that we can find options for you, whatever your circumstances.
SO WHAT ARE THE STEPS TO BUYING A PROPERTY TO LET?
It all starts with a consultation with our brokers. We ask all the right questions so we can go and find the right buy to let deal for your situation. At that same consultation, we’ll also book in a follow-up so we can discuss what we’ve found.
If you’re happy with what we’ve come up with, we’ll then go about securing what is known as a Decision in Principle, or DIP for short. This is just a promise from your chosen lender to give you the mortgage you need as long as the information is accurate and the property value is reasonable.
Now is when the fun part starts because you’re now in a position to make an offer. And you’re on solid ground too because you’ve got that DIP in place. Why is that good? Because it shows that you mean business.
Once you’ve found that perfect house and have made an offer, we’ll then have to send all the relevant details to the lender so they can run the rule over it. Don’t worry – we’ll make sure that application is on point, handle all the toing and froing and that all the relevant documents are kosher. If all is well then the mortgage offer will come through.
Now is when the legal considerations kick in. We can recommend a good conveyancing solicitor to draft up the contracts and sort out the purchase. It’s at this point that you’ll need to sort out buildings insurance too.
The culmination of all that work is this moment: when you exchange contracts, the deposit is paid and the property is yours. Be aware though that this is often the point of no return. If you exchange contracts and then decide to pull out afterwards, you will lose your deposit.
WHY CHOOSE US?
Trust us to take care of everything
You’ll get a mortgage deal that meets your needs, without the headaches or the hours and hours chasing lenders.
Enviable reputation
With a steady 5/5 rating on Facebook, Google and Yell, from over 150 reviews, you’re not working with a rookie.
Expert service and advice
You’ll have over 30 years of sector experience to call upon, a satisfaction guarantee and FCA accountability.
Just done my 6th mortgage with New Mortgage Solutions. As usual - great service. Offered me the best product after understanding what I needed. The office staff are so attentive, responding to emails within minutes.
PaulM-292419 (Yell.com review)
I have been working with New Mortgage Solutions Ltd for many years and over these years they have secured me new mortgages at the best rates with the best advice. They take care to manage the whole process for you. Their overall service is excellent and I personally would not use anyone else. I highly recommend New Mortgage Solutions Ltd.
SuthanS-3 (Yell.com review)
We have used the team at New Mortgage Solutions for a range of services including mortgage renewals and mortgages on a buy to let. In all cases they have been great to work with and have found us the best offers available.
