Mortgage Broker West Sussex
Buy-to-let Mortgages
Buy-to-let mortgages are drafted for property investors who plan to purchase property as an investment to rent it out. In comparison to traditional residential mortgages, where the property is for personal use, buy-to-let mortgages are specifically tailored for rental properties.
​How do buy-to-let mortgages work?
Buy-to-let mortgages are interest-only, meaning the monthly payment will only pay off the interest on the loan, not the capital.
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Who can get a buy-to-let mortgage?
You need to be over the age of 18 to get a buy-to-let mortgage.
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What is the maximum amount you can borrow for a buy-to-let mortgage?
This depends on what you can achieve in terms of monthly rental, as buy-to-let is not reliant on an individual's income.
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How can I help?
I can assist by researching the best buy-to-let mortgage rates and conducting an affordability assessment with lenders offering the most competitive options.
What is Remortgaging?
A remortgage is when you move from one lender to another if it's a better deal and you always remain in the same property. You can also raise additional money for home improvements or consolidate existing debt with a remortgage.
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When is a good time to Remortgage?
The best time to consider remortgaging is approximately seven months before your existing deal ends. This gives me enough time to research the market to see if I can get you a better rate than the existing lender is offering. It may be that the property's value has increased, the loan-to-value ratio has changed, and you have a wider choice of deals.
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How long does the process take?
A remortgage process typically takes 6 to 8 weeks. You will need to work with a conveyancer, who is usually provided free of charge by the new lender. This will involve you completing a remortgage questionnaire and probably uploading documents to an online portal. There may also be an application fee, which can generally be added or paid upfront.
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The remortgage will not be completed until after the early repayment charge expires on the existing mortgage to avoid potentially paying thousands if your current deal hasn't ended.
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How can I help?
Before submitting a remortgage, we would discuss in detail what you are looking for the new mortgage to achieve. For example, you could be looking for more flexibility or lower monthly costs when considering your future plans.
Remortgage
Remortgaging refers to switching your existing mortgage to a new deal, either with the same lender or a different one, without moving home. Homeowners typically remortgage to secure a better interest rate, reduce monthly repayments, or release equity from their property.