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Buy to let morgages,definition?
Marlinsjh
Posts: 1 Newbie
I have recently been looking into letting out my property but am unsure about the buy to let morgages.
My current morgage has expired and i would like to consolidate some existing debt,remorgage and let out the property.
I have the opportunity to travel for a short while but not until the end of the year so would it be worth me taking out a buy to let morgage so soon?
I have spoken to a broker and he recommended a 'morgage works' product but i still don't understand if the morgage is based on a fixed rate or whether it will be variable and the repayments will vary as the interest rates go up.
Any advise on the subject would be appreciated
My current morgage has expired and i would like to consolidate some existing debt,remorgage and let out the property.
I have the opportunity to travel for a short while but not until the end of the year so would it be worth me taking out a buy to let morgage so soon?
I have spoken to a broker and he recommended a 'morgage works' product but i still don't understand if the morgage is based on a fixed rate or whether it will be variable and the repayments will vary as the interest rates go up.
Any advise on the subject would be appreciated
0
Comments
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If you take a BTL mortgage you cannot reside in the property so if you are not ready to move out do not complete on it.
The Mortgage Works offer fixed and variable mortgages so get the adviser to clarify if you have any queries with it.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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