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If you are looking at enquiring about potential Buy to Let Mortgage Advice, look no further. We have a team of expert mortgage advisors in Leicester who are here to help.
Whether you’re thinking about taking your first step towards becoming a landlord or have done this before and need someone to take the bulk of the process off your shoulders, we have a lot of knowledge and experience with Buy to Let mortgages.
As a Mortgage Broker in Leicester, we work very hard to ensure we are helping our customers as best as we can. Throughout our tenure we have helped a variety of different property investors to secure some incredible buy to let mortgage deals.
Our fast & friendly mortgage advice team will be able to search through 1000s of mortgage products for you, in order to try and find you the most appropriate mortgage deal for your financial situation and the property in question.
Some landlords take the route of purchasing their new buy to let properties through a limited company that they own (this can be known as a Special Purpose Vehicle, sometimes shortened to SPV).
As an expert mortgage broker in Leicester, our dedicated team of mortgage advisors in Leicester have a lot of useful knowledge on this type of purchase, and will be happy to discuss the mortgage paths available to you.
If you are thinking about comparisons on the taxation benefits, then you should look around for an experienced tax advisor to speak to, as they will be able to give you the appropriate advice regarding this topic.
Though we usually tend to help with standard residential buy to let mortgages in Leicester, we do actually have the ability to help with HMOs (House of Multiple Occupancy) and any holiday let enquiries too, so if you are in need of mortgage advice for one of those, please feel free to contact us and get book in for your free mortgage appointment.
Some landlords who invest in buy-to-let properties choose to buy them through a limited company, commonly known as a special purpose vehicle (SPV) in the mortgage industry.
Our team of skilled mortgage advisors in Leicester specializes in helping customers with buy-to-let property purchases using this SPV method. They will leverage their expertise to guide you through the mortgage process and address any questions or concerns you may have.
While we excel at providing guidance on buy to let mortgages in Leicester, we are not able to offer advice on taxation benefits. If you need assistance in this area, we recommend consulting a dedicated tax advisor who can provide accurate advice from a qualified professional.
In addition to aiding customers with standard residential buy to let purchases in Leicester, we also assist those interested in buying properties for HMO (House of Multiple Occupation) or Holiday Let purposes.
The process of purchasing a property with the intent of renting it out can be stressful, especially for new landlords or those already occupied with managing existing property portfolios. This is why many landlords establish a relationship with our expert mortgage advisors in Leicester, often returning to remortgage those same properties. We are committed to making their lives easier by finding the best deals available!
When you apply for a mortgage, lenders usually ask for a deposit, which typically falls within the range of 20% to 40% of the property’s value. The exact percentage required depends on several factors, such as the size of your property portfolio, credit score, and individual circumstances. It’s essential to understand that these variables also influence the maximum amount you can borrow for your mortgage.
In Leicester, the maximum amount that a landlord can borrow for a buy to let mortgage hinges on the projected rental income of the property. Alongside this, mortgage lenders commonly request evidence of income from a primary job or self-employment. This requirement ensures that you have the financial capacity to cover monthly payments for the buy to let mortgage, even during periods when the property may be vacant and not generating rental income.
For existing property investors aiming to grow their portfolio in Leicester, numerous factors demand consideration. Researching the most promising areas to invest in, defining investment strategies and objectives, and evaluating the potential rental income of selected properties are essential steps.
Once you have a well-defined understanding of your investment goals, collaborating with a mortgage broker becomes pivotal. They can assist you in finding the ideal buy-to-let mortgage product that aligns with your specific needs and objectives.
If you wish to save money on your buy to let property in Leicester, considering a buy to let remortgage might be a favorable choice. By remortgaging, you can switch to a new product with improved terms, potentially reducing your interest payments.
Engaging a mortgage broker in Leicester can prove invaluable in finding the most suitable buy to let remortgage product tailored to your unique needs and objectives. They will expertly guide you through the remortgage process, making it a seamless experience.
Our Customers Love Us
5.00 Rating26 Reviews
Simon
Brilliant service thank you for all your help
1 month ago
Dawid
Excellent
3 months ago
Grant
Very fast friendy service, any questions were answered throughly and quickly and the whole service from start to finish was smooth and stress free.
5 months ago
Lucy
Excellent service from start to finish! Chris kept us fully informed and answered all of our questions throughout. He took the pressure off us and was professional throughout! Highly recommend!!
6 months ago
Rebekah
Jo and Chris were extremely helpful. Got everything done so quickly!
8 months ago
Joanne
It was smooth, took all the stress of reseaching the best mortgage. Easy access to appointments. TOM was great and understanding
1 year ago
Bhaven
Very very good thank you
1 year ago
Zubair
Charlie was very easy to talk too and made things easy and simple to understand and explained our options in detail which really helped us through the process as first time buyers.
1 year ago
James
Jason and his colleagues at UK Moneyman have been amazing from the start. When we began the process of house buying and finding a mortgage we knew very little, but Jason explained much to us in a telephone consultation and outlined all our options....
2 weeks ago
Samantha
Very impressed, service was really good and efficient and anything g that needed explaining was done very clear. Would definitely recommend
2 weeks ago
Shelline
Leo Shakespeare and Stacey Jopling has work long side each other to made this entire journey extremely smooth and informative as a first time buyer. His service has been phenomenal. I had been rejected from many other brokers and banks and he...
3 months ago
Nafesa
I have been dealing with Wendy and Malcolm in regards to my house purchase and I could not recommend these enough. A true credit to the company. Very efficient with communication and solving any issues that needed to be addressed. Would highly...
5 months ago
Anonymous
Incredibly helpful, supported throughout whole process
5 months ago
Nazeef
Fantastic experience. Charlie helped me race through to secure the best mortgage offer, best plan for life and critical illness insurance. Very approachable and responsive even with any queries I had after everything was completed.
6 months ago
Andrea
The service was really good and want to say a big thank you to Leo and Wendy for all there help and guidance 😊
2 years ago
Ryan
Leo who help deal with all of our mortgage was brilliant, professional always there to guide us and explain every step, fully recommend him, We also spoke with Wendy and once again she was very friendly polite and there to help with anything...
2 years ago
Mohit
Really good service by Malcolm and the team. Fast and made sure to understand my needs regarding the mortgage I wanted and to meet them. Would recommend
2 years ago
Tyler
Had great help from both Joe and Chris and Chloe who were all friendly and always happy to help
10 months ago
Rosie
Made everything very easy, we are first time buyers and they couldn't have been more helpful or informative. They didn't make us feel like we were stupid for not know anything about buying a house and talked us through the entire process. They even...
10 months ago
Sophie
Tom and Meghan were brilliant throughout the entire process! Both were friendly and knowledgeable and explained everything to us clearly and answered our countless questions and gave us clarification where we needed it. Both were easy to contact and...
10 months ago
When making any investments in a rental property, it's crucial to have a clear understanding of your objectives and identify the mortgage type that aligns best with your requirements.
One of our expert buy to let mortgage advisor in Leicester can explain the different types of mortgages, and help you decide which type is best suited to your investment strategy.
Once your property purchase offer is accepted, the buy to let mortgage advisor will undertake the responsibility of submitting your complete mortgage application to the lender. This application will encompass all necessary documents, such as proof of income and identification.
The lender will then evaluate your anticipated rental income to ensure that you can comfortably manage monthly payments and any additional expenditures, including maintenance and repairs.
After successfully obtaining your buy to let mortgage and finishing the acquisition of your rental property, it becomes essential to maintain appropriate insurance coverage to safeguard your investment.
In this aspect, our mortgage advisor in Leicester can help you find the most suitable insurance coverage that aligns with your specific needs and protects your valuable investment.
Our mortgage administrators and advisors will be here to support you from the first time you get in touch, all the way until your transaction has completed and more. We always strive to give our customers a clear and simple mortgage advice service, keeping the process as stress-free as possible.
To gain a deeper understanding as to why we are used by so many buy to let landlords in Leicester, take a look at our fantastic customer reviews, left by real landlords and more who used our mortgage advice service and were pleased with the outcome they received.
We always make sure that as a company we are completely up to date with the latest buy to let legislation and lending criteria, allowing us to keep you, the customer, well informed and always in receipt of professional and accurate mortgage advice in Leicester.
Our fast & friendly mortgage advice team at Leicestermoneyman are very familiar with the inner-workings of the buy to let market and have extensive knowledge of it. We work with buy to let landlords on a regular basis, forming relationships with them and sorting out their mortgages or remortgages, reducing their stress as a result.
As hard working, expert Buy to Let Mortgage Advisors in Leicester, we will be on hand and ready to give you support during the whole mortgage process. We have mortgage advisors here to speak with seven days a week, from morning until evening, subject to availability. We will work hard to try and help you over any hurdles that crop up.
During our time working in the industry as a mortgage broker in Leicester, we worked alongside a large amount of landlords, helping a vast majority of them to secure mortgages for the properties they are looking to invest in.
Whether you’re looking to obtain a mortgage for a standard buy to let, for a holiday home let, or for a HMO property, our dedicated team of mortgage advisors in Leicester will be on hand to take a look at your circumstances and see what mortgage deal is best suited for you.
The buy to let option that we come across most frequently is a standard residential buy to let. This type of mortgage is basically what the name suggests, allowing you to obtain a mortgage for a purchase on a residential property, the sort that you would rent out rather than live in yourself.
We find that most buy to let borrowers will probably take out their mortgage as interest-only, as this means they will have lower monthly payments because they are only paying the interest each month. The monthly payments are usually funded through your monthly rental fees to the tenant. You’ll need to pay off the capital in full once your term is finished.
A house in multiple occupancy is a term used when speaking of residential properties that are occupied by multiple tenants and have common shared areas. Student housing is a prime example of this.
Depending on the size of your HMO is, you may have to obtain a license from your local authority. We definitely would recommend speaking to the local authority ahead of the process so that you are well informed of the legal side of this.
HMOs are classified as a very specialist buy to let investment and you’ll find that a lot of lenders won’t have any products available for them. That being said, if you’re looking to take out a mortgage on a HMO property, we do know of a few lenders that are willing to work with them.
Taking on a HMO property tends to bring in higher yields than you would get from a regular buy to let property investment, though you absolutely be mindful of other costs, such as license fees from the local authority and having to maintain the state of the property on a more regular basis.
More often now do we see landlords looking at the paths available to them for purchasing their investment properties by means of a limited company SPV (Special Purpose Vehicle). This occurs more frequently when a landlord has a much larger portfolio of properties and is looking to purchase more.
As a standard rule to follow, you will probably be paying a higher interest rate when taking out a mortgage through your Ltd. Company and you won’t have access to as many options when it comes to choosing a lender that is willing to work with this kind of mortgage.
That being said, the costs involved in doing it this way can be counterbalanced and even possibly outweighed by the potential tax savings. We would always recommend speaking in-depth with an experienced tax advisor to see if this is the right route for you.
Holiday let mortgages are used for landlords, new and existing alike, who are going to be purchasing a property that will have a lot of regular short term tenants over time.
A holiday let is classed as a specialist investment type, so please be aware that not all lenders will have products available to you if that’s the route you’re taking. On a more positive note though, our dedicated mortgage advisors in Leicester also have lots of experience of working with holiday let lending criteria, so we will be able to run through your options with you.
In this section we have taken a look at the most common buy to let investment scenarios that we have encountered in Leicester.
If your situation doesn’t quite match up with something that has been said above, then please feel free to get in touch or book yourself in for a free mortgage appointment with one of our dedicated mortgage advisors in Leicester.
Using our in-depth buy to let mortgage experience of situations we’ve worked on in the past, we will hopefully be able to help you achieve mortgage success. We look forward to working with you on your mortgage.
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Leicestermoneyman.com & Leicestermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Leicestermoneyman.com & Leicestermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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