Buy To Let Mortgage Advice Exeter, Devon

Buying a property to let needs care. You will need to find the right property and you will need to finance this property. The shrewd investor will invariably arrange a mortgage to finance the purchase. Westexe Mortgage Centre is the leading specialist provider of buy-to-let mortgages in the region and has strong links with Castle Estates. Taking professional advice will ensure you get the best mortgage deal for your circumstances. We are an independent mortgage broker. We can offer you advice and access to the whole mortgage market. Some schemes are only available through brokers like Westexe Mortgages. Historically, buyers of property to let have been surcharged or forced to borrow at commercial rates and potential rental income has not been taken into account for servicing the borrowings. Today there is little difference between arranging a buy-to-Let mortgage and a standard mortgage for owner occupation. Buy-to let mortgages are subject to the usual status checks and can be arranged far a variety of terms and for up to 85% of the value of the property. We can even arrange far the release of some of the equity in your own property to help finance the deposit, thus creating 100% of the money required to purchase the property.

Generally lenders will expect landlords to use a letting agent, such as Castle Estates, to manage the property and for tenants' contracts to be drawn up as assured shorthold tenancies.

Dos and Don'ts

DO - Ask the advice of a reputable management company like Castle Estates on local rental demand.

DO - Consider a buy-to-let property as a medium to long-term investment.

DO - Make sure your sums add up. Ensure that the rent will cover mortgage payments and other costs, even if you have periods without tenants.

DON'T - Allow your own personal taste to influence your decisions. Ensure the property you choose matches the local need.

DON'T - Use off-the-shelf tenancy agreements from stationery shops. Ensure your paperwork suits your circumstances.

DON'T - Leave the running of your property to friends or relatives when you are away. Tenants will need a proper management service.

We have thirty years experience in arranging mortgages for every possible situation. If you would like to explore the potential of buying-to-let we would be delighted to talk to you. You can contact us for free, no obligation advice on buy to let mortgages by telephone between 8.00 am and 10.00 pm, seven days a week.