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Buy To Let Mortgages
Tefal_2
Posts: 1 Newbie
Are emmigrating and have decided to rent out our property - any recommendations for buy to let mortgages??
This is my first thread - would greatly appreciate help!!
Tefal
This is my first thread - would greatly appreciate help!!
Tefal
0
Comments
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Welcome and well done for taking the plunge and posting!
I would consider asking your existing lender for permission to let. Some will let you without any hassle at all - just charging a one-off fee - whilst others will make you switch to a BTL product. If the former, it will be better value than a specific BTL mortgage.0 -
I did that, advised my lender who was okay with it but I was required to use a management agency and they had to provide a tenancy agreement of the rental for the lender. I have had no bother.
On the other side a excellent deal on a buy to let is standard life 4.99% fixed for 2 years no tie ins out of that period 80%LTV.0 -
Well, sort of an excellent deal but a non-BTL mortgage 2 year fixed would only cost around 4.25%. So you are paying 1.5% extra over the 2 years for the privilege of having a BTL mortgage which is a material amount of money to most people.0
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