BTL with less than £20k salary - IFA view reqd!

squoog

Are you confusing the lenders fees with brokers fees? Many lenders are asking between 2-3k to arrange a new mortgage. My broker charges £200 to arrange, as then he can search the whole market rather than being biased by higher commission.
One benefit of a broker is that they can adjust the search to look at total cost over 2 years or compare monthly payments, or cheapest fees and find the best product to suit you as an individual.
I have no additional income and am arranging through The mortgage works, Aldermore was also possible. I do miss the old, easier days though
Good Luck!

Wh05apk

squoog wrote: »

My broker charges £200 to arrange, as then he can search the whole market rather than being biased by higher commission.
One benefit of a broker is that they can adjust the search to look at total cost over 2 years or compare monthly payments, or cheapest fees and find the best product to suit you as an individual.
I have no additional income and am arranging through The mortgage works, Aldermore was also possible. I do miss the old, easier days though
Good Luck!

I do hope no broker would be swayed by higher commission from certain lenders!

On a £60k BTL mortgage there will not be mega-bucks to be made, but if you were local, and a straight forward case, it should represent a decent days work.