Buy to Let Mortgages in Cambridge

As an open and honest mortgage broker in Cambridge, we have delivered top quality Mortgage Advice in Cambridge to help landlords secure a buy to let mortgage for the property they are investing in.

Our team of mortgage advisors in Cambridge will help you start your buy to let in Cambridge if it is an HMO, holiday let or a residential buy to let in Cambridge. They will look into your circumstances to find you the most suitable buy to let deal.

As a Mortgage Broker in Cambridge, we tend to find that the most popular buy to let option we deal with is a standard residential buy to let in Cambridge. This type of buy to let product gives you the chance to take out a mortgage on a residential property purchase that you are wanting to rent out instead of living in.

It’s also expected for borrowers to take out their mortgage as interest only. This is because it will help to keep their monthly payments low because they are only paying interest each month. Usually, you will have rental fees that will pay the monthly amount. At the end of the terms, the capital will need to be paid off in full.

The case where there are multiple tenants in residential property and have common areas that are shared is called a House of Multiple Occupancy, also known as HMO. Student housing is an example of this.

You might need to obtain a license from your local council depending on how big your HMO is. In order to be aware of the legalities, we recommend getting in contact with the local authority.

You may find that not all lenders out there offer products fit for HMOs because it is classed as a specialist buy to let investment. The good news is that we have access to some lenders who can offer mortgages that are fit for customers wanting to purchase an HMO.

Usually, HMOs bring in a lot of return on investment compared to a regular buy to let in Cambridge, however, you have to regard maintenance costs on the property as well as license fees from the local authority.

Throughout the period there has been an increase in landlords going through a limited company SPV (Special Purpose Vehicle) when looking at the option to purchase their investment properties. Especially, when it comes to buy to let landlords with vast property portfolios.

If you are considering taking out a mortgage in the name of Ltd. The company you will pay a higher interest rate. A small drawback is that you won’t have a lot of options in regards to the number of lenders that offer this sort of product.

However, this can be massively outweighed by the potential tax savings. To see if this is the right path for you, we strongly recommend getting in contact with an experienced tax advisor.

If you are looking to purchase a property that you want to let out on a short-term basis over time, Holiday Lets might be suited for you.

Just be aware that holiday lets are known as a specialist type of investment. Therefore, not all lenders will not cover this in their criteria so there are limited products for you to choose from.

The good news is, we have a strong team of Mortgage Advisors in Cambridge that have a lot of knowledge in lending criteria in terms of a holiday let and can help explore your options.

The scenarios mentioned above are based on previous encounters our team faces on a daily basis when providing open and honest Mortgage Advice in Cambridge.

If you would like to speak with one of our Mortgage Advisors in Cambridge, book yourself for a free initial mortgage appointment today. Even if your situation doesn’t apply to the ones above. Our experience has provided us with the opportunity to deal with a range of situations so you may find that your situation is probably one we have dealt with before.