In the twenty-first century, more and more people are investing in the property market. However, with buy to let mortgages, it is important to remember that the lenders have different criteria you must fulfill, from minimum earnings to minimum rental income.
Individuals or Limited companies can obtain a buy to let mortgage to purchase an investment property. Although, there are stipulations the lender makes about limited companies, directors and shareholders.
Downton & Ali Associates are very experienced in the buy to let market. Our advisers can evaluate your personal and financial circumstances and source the most suitable product available to you.
Buy to Let Mortgages are not regulated by the Financial Services Authority.
Landlord & Tenant Insurance
As a landlord you have a duty of care to the tenant and must ensure the services are always in working order. Should one of these services fail you will be required to pay the expense incurred in getting them repaired immediately as tenants must not be left without necessities like cooking facilities, hot water or electricity. Should you fail to provide these, you could face litigation and expensive legal fees.
It is important that you do not forget your responsibilities as a landlord. Standard policies for owner occupied homes do not cover the risks associated with letting a property.
Downton & Ali Associates specialise in arranging suitable landlord and tenant insurance plans that protect the building and its contents against damage caused by tenants and provide protection for the landlord for emergency assistance and legal fees.
Your home may be repossessed if you do not keep up repayments on your mortgage.
We will charge a broker fee of a maximum of £495 or 0.5% of the loan amount, whichever is higher, normally payable on application. Typically this will be £495.