What are Buy-to-Let Mortgages?
Buy to lets explained
A buy to let mortgage is a type of mortgage facility for property investors, developers and landlords. It differs from a normal residential mortgage, because it is taken out with the intention of renting the property to a tenant, rather than, owner occupation.
We can accept Buy to Let mortgage applications from individuals, limited companies, SPV’s and overseas entities
Buy-to-Let
Whether you are a first time landlord or a seasoned property professional, we at Development money can advise you on the best available mortgage products currently on the market.
- Whole market access
- 85% maximum LTV
- 5-30 year terms
- Borrow between £25,000 and £1m +
- Same day in principle lending agreement
- Rates from 1.49%. True Rates from 2.49%
Business Buy-to-Lets
Business Buy-to-Let Mortgages
Corporate/Company Buy to Lets are typically designed for the purchase of residential property through a limited company (trading) or a special purpose vehicle. With whole of market access and exclusivity with some lenders, Development money are able to secure corporate buy-to-let products for;
- Investors
- individuals
- Developers
- Property professionals
- Company portfolios
HMO – Houses of Multiple Occupancy
The simplest definition of a HMO is that the property will be occupied by multiple individuals who are not a single household (i.e not a family or some other special relationship). The property must be all of the occupiers only or main residence, is only used as a residence and at least one of the occupiers must be paying rent.
Licensed and Unlicensed HMO’s
The significance of a HMO is that is that it may need to be licensed by the local authority but this is not the case for all HMO properties. At Development Money we are able to secure mortgages for both licensed and unlicensed HMO properties and are able to provide you with advice on whether you should be looking to license the property.
Houses of Multiple Occupancy
Examples:
HMO mortgages are available for a wide variety of multiple occupancy property types. Here we have listed some of the more recent HMO’s we have secured competitive rates for.
- Converted blocks of flats
- Bedsits and shared houses
- Privately operated halls of residence
- Shared self-contained flats
- Cluster Flats
- Lodgings
- Hostels
- Refuges
- Individual shared self-contained flats/cluster flats
- Accommodation for workers/employees
- Serviced Accommodation
- Rates from 2.89%
With over 60 years experience between us , Development money are one of the market leading firms able to arrange mortgages for HMO properties with LTV’s of up to 85% without additional security, we also have access to HMO products which will lend 100% LTV using another property as additional security.
Speak to one our HMO mortgage specialist today and find out how we can help you with your mortgage application.
Commercial / Semi Commercial Mortgages
Commercial mortgages
Commercial mortgages can be arranged for a variety of different properties with borrowing applicable for purchase and re-mortgaging. We are able to accept applications from individuals, limited companies, SPV’s and offshore entities.
With access to all of the main stream lenders and the specialist lenders, Development money is well placed to work for you to source the best commercial mortgage for your individual circumstances.
- Trading business or investment applications accepted
- Same day agreement in principle
- Whole of market access
- Market leading rates
- 100% LTV available with additional security
- Interest only available
- No maximum loan
- Rates from 3.0%. True Rates from 4.15%
Important information
If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.