Seasonal Image
Seasonal Images

Buy-to-Let Mortgage Advisers in Buxton, Derbyshire UK

Whether you’re a seasoned investor or just starting, Buy-to-Let can be a powerful financial tool for long-term investment, passive income, and maximising property potential.

Buy-to-Let mortgages suit a whole range of scenarios you might be facing such as retirement planning, relocating while holding onto your home, investors renovating and selling properties, portfolio expansion, or parents helping their children onto the property ladder.

Let’s explore your possibilities together.

First-Time Buyer Mortgage Advice

As your dedicated trusted guide, we advise first-time buyers to approach Buy-to-Let mortgages with thorough research. We help you calculate all costs – mortgage, maintenance, and taxes – ensuring financial feasibility. Our team enables you to navigate complexities like interest rate changes and void periods so you can make informed decisions for a successful investment.

Should I use a Mortgage Adviser?

Enlisting an independent mortgage adviser will not only source the best rate for you but also support you through the whole process of purchasing your home – a stretch too far for most banks. 

At Mercian, our expertise saves you time, stress, and potentially money. We have access to an extensive network of lending options beyond high-street banks, including lesser-known but valuable lenders. With so many choices at our fingertips, we find the best possible deals for you.

From paperwork to negotiations, we’re here to ensure a smooth journey to your dream home or investment.

How our advisers work:

We start with a chat at your convenience, gathering the basic information we need to kick off our journey.

Then, we dive into the marketplace, researching to present you with options tailored to your needs, and even giving you an idea of the maximum amount you could borrow if you’re not sure about the property.

As you find your dream home and your offer is accepted, we spring into action. We submit a thorough application to your chosen lender and recommend safeguarding you against life’s twists, covering mortgages, buildings, contents, and you – with buildings insurance being a must.

But our support doesn’t stop there. Mercian guides you through the next steps. From working with estate agents and solicitors to keeping you in the loop with mortgage lenders, we’re here every step of the way, ensuring you’re informed and confident until you finally hold the keys to your new home. Our team help you turn the unfamiliar into the unforgettable.

Buy-to-Let Mortgage FAQs

1. What is a Buy-to-Let mortgage?

A Buy-to-Let mortgage is designed for individuals purchasing property to rent out. Unlike residential mortgages, they consider the rental income potential and typically require larger deposits.

2. What deposit do I need for a Buy-to-Let mortgage?

Lenders usually require a minimum deposit of 25% of the property’s value. A larger deposit can secure better interest rates and improve your chances of approval. 

3. How is affordability assessed for a Buy-to-Let mortgage?

Lenders evaluate potential rental income against mortgage repayments. It is commonly required that the rental income should be around 125-145% of the mortgage payment. 

4. Can I get a Buy-to-Let mortgage if I’m a first-time buyer?

Yes, first-time buyers can access Buy-to-Let mortgages. However, some lenders might have stricter criteria or require evidence of property ownership experience. 

5. Do I need to pay additional Stamp Duty for Buy-to-Let properties?

Yes, Buy-to-Let properties typically attract higher Stamp Duty rates. In addition to the standard Stamp Duty, there’s an additional 3% surcharge for second properties.

Securing a mortgage can often feel like a daunting process, especially when it is your first time. Our mortgage advisers work closely with you to understand your needs and support you in choosing the best solution that feels comfortable for you. Contact us to get started with one of our specialists.

Buy-to-let (BTL) is an ideal investment opportunity, with options to secure the property in your personal name or limited company. We work out the numbers for a 25% deposit and factor in the additional payable Stamp Duty and tax on any earnings in a full assessment to make sure you have everything in place for your next venture.

Is your mortgage rate about to expire, or already has expired? Are you looking for financial options to carry out home improvements? Our independent advisers fully review your current offering to ensure you stay on track for repaying your mortgage at the best possible rate.

Thinking about moving soon? Get prepared to take the next step when you feel ready. Speak to our team for guidance on the process and to receive a financial estimate of associated fees with moving. This example will include dealing with estate agents, solicitors, and mortgage lenders.

Bridging is a short-term solution often used when a financial turnaround is needed fast, such as for saving a collapsed chain or buying an uninhabitable property. The option is available to buyers and investors who meet certain criteria. Contact our team to discuss your requirements and find out whether bridging could be the best alternative for you.

Get in touch today

Let’s see whether Buy-to-Let is the right financial tool for you.