Buy to Let / Let to Buy / HMOs

Westexe Mortgage are the South West’s leading provider of Buy to Let mortgages for many years, you have only to ask our satisfied customers. We have been providing solutions to first time landlords, professional landlords with large portfolio’s right through to buy to let mortgages for limited companies, no matter how straight forward or complex a case might be. We are delighted to help with free mortgage advice, with no obligation 24 hours a day, 7 days a week, by calling us on 01392 216344. You can request a call back or complete an enquiry form on this web site and we will get back to you as soon as possible.

With recent changes implemented by the the Prudential Regulation Authority (PRA) we have seen massive changes to how buy to let applications are assessed by lenders. It is our job to understand these new challenges and to provide the best possible solutions to our these, this can mean the difference of being able to borrow enough or not.

We can put you into contact with other professionals to advise and guide you about purchasing your first Buy to Let mortgage, we can even put you into contact with excellent letting agents if you are absent landlords or have a large portfolio to manage and recomment suitable tax advisers so that you fully understand everything you need to know.

Buy to Let

Buying a property to let needs care. You will need to find the right property and you may need to finance this property. The shrewd investor will invariably arrange a mortgage to finance the purchase. Westexe Mortgage Solutions is a leading specialist provider of buy-to-let mortgages, Let to Buy mortgages and HMO mortgages in the region and we have strong links with reputable local letting agents. Taking professional mortgage advice will ensure you get the best mortgage deal for your circumstances. We are a whole of market buy to let mortgage broker, we can offer you advice and access to the whole mortgage market. With deposits starting from as low as 15% and very low rates. 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.  As an independent mortgage broker 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.

HMO

For professional landlords we offer a complete range of Buy to Let mortgages, mortgages for HMO properties, buy to let mortgages for limited companies and investment mortgages at very competitive rates.

Limited Company Buy to Let

More and more people are purchasing investment properties using an SPV (Special Purpose Vehicle), otherwise known as a Limited Company set up for the specific purpose of holding buy to let properties. This has income tax advantages, especially for higher rate tax payers. We strongly recommend suitable advice is sought from a qualified tax adviser about this. More and more Buy to Let lenders are recognising this and offering good products for this purpose. Westexe Mortgages are able to source these for you.

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.

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 lettings management company for information 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 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.

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