BUY TO LET and LET TO BUY

Buy to Let

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 Solutions is the leading specialist provider of buy-to-let, Let to Buy and HMO mortgages in the region and has strong links with a reputable local letting agent, Bower & Bower www.bowerandbower.com . 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 Mortgage Solutions. 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 for a variety of terms and for up to 85% of the value of the property. We can even arrange for 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 arrange an Assured Shorthold Tenancy agreement for letting the property and advice is available in respect to this.

Dos and Don'ts

DO - Ask the advice of a reputable management company like Bower & Bower 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.

Let to Buy

More than ever these days people are finding it difficult to sell there existing property, yet they have pressing reasons to move. Many lenders will allow customers to Let there existing property in order to buy a new one to live in, at other times they will not and an alternative lender needs to be found. Care needs to be taken in arranging Let to Buy mortgages in order for it not to effect the borrowing power for the onward purchase. Invariably this is a two part transaction and great care needs to be taken in selecting the right lender/s with the right product/s to maximise the potential of doing this.

We have over thirty eight years experience in arranging mortgages for every possible situation. If you would like to explore the potential of buying-to-let or let-to-buy we would be delighted to talk to you. The answer is YES we can help, please contact us 24/7 for FREE advice with no obligation on buy to let mortgages.

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

The Financial Services Authority does not regulate most Buy to Let mortgages

Testimonials

Peter has assisted in the purchase of multiple properties under specific purchasing conditions and severe time constraints, resulting in READ MORE

“I was introduced to Peter at Westexe to assist us with refinancing our mortgage. Throughout the process he was helpful, responsive and most importantly managed my expectations when the process by the lender appeared to be slowing. READ MORE

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