Posts Tagged buy to let mortgages
Fixed Rate Buy to Let Mortgages
Posted by admin in Personal and Corporate Finance on November 12th, 2009
If you are thinking of buying a property so that you can rent it out, then it is definitely worth thinking about a fixed rate buy to let mortgage. Fixed rate buy to let mortgages are great for Property Investors, because unlike variable rate mortgages, they are much more predictable as far as the monthly outgoings are concerned.
Buy to let properties can make great investments because over the long term, they tend to be a lot less risky than the stock market or other types of speculative investment. And one of the great things about buying property is that it is a lot easier to borrow money for this than it is for pretty much any other kind of investment.
There are many mortgage lenders who will be prepared to lend you the money for a buy to let property, and a number of these lenders offer fixed rate mortgages.
The rate is usually set for a period of anywhere from 2 to 10 years, but more commonly between three and five years. Pretty much anyone over 18 with good credit will be considered for a loan, so long as they can prove that the rental income will more than cover the mortgage repayments, that they have an adequate deposit and that the property is a good investment and will only be used for rental purposes.
So have a good look at fixed rate buy to let mortgage offers if you are planning to own a rental property, there are some great offers about!