Buy To Let Mortgages
There are some significant differences between residential and buy to let mortgages, including the regulations. At present, the minimum deposit is 15%, compared with 5% on a standard residential mortgage, and the interest rate is generally several points higher than general residential products.This is because lenders see rental properties as higher risk.
The legislation relating to tax deductibles on rental properties is currently undergoing phased changes, so make sure you seek advice before committing to a product. If these changes are likely to affect you, there are ways to restructure your portfolio to minimise their impact. Your dedicated adviser will look at your individual circumstances before making any final recommendations.
If you are buying a more complex property, e.g. a student let, holiday home or house in multiple occupancy, or if your own situation is less standard, e.g. you are borrowing as a limited company or an expat, ClearView Mortgages can still assist you with you plans. Please read the section on specialist buy to let.