Buy to Let Mortgages in Beckenham
Mortigo is here to help you get the best buy-to let mortgage in Beckenham for your needs. You’ll need a buy-to-let mortgage that’s tailored specifically towards your bespoke requirements, and we can do just this!
What are buy-to-let mortgages?
Buy-to-let mortgages are designed for investors who want to buy a property to rent it out.
They work in a similar way to regular mortgages, but there are a few key differences. For instance, buy-to-let mortgages usually require a larger deposit than a standard mortgage, and the interest rates are often higher. This is because buy-to-let properties are seen as more risky investment. Lenders also usually impose stricter criteria on buy-to-let mortgages, such as requiring the borrower to have a good credit score. However, buy-to-let mortgages can be a great way to invest in property and generate rental income.
If you’re looking to make a buy-to-let investment in the Beckenham area, contact us today for our expert help and advice.
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The many benefits of buy-to-let Mortgages
There are a number of benefits to taking out a buy-to-let mortgage, including the following:
- With a buy-to-let mortgage, you can usually borrow a larger amount of money than you could with a standard mortgage. This is because buy-to-let mortgages are based on the rental income of the property, not your personal income.
- The interest rates on buy-to-let mortgages are often lower than those of standard mortgages. This is because buy-to-let mortgages are considered to be less risky by lenders.
- Buy-to-let mortgages usually come with flexible repayment options. This means that you can choose to make interest-only payments, or pay back part of the capital each month. This can help to make your monthly mortgage payments more affordable.
If you’re thinking of buying a property to rent out, then a buy-to-let mortgage could be the ideal option for you.