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Will you finance the purchase entirely yourself or will you utilise lending by way of a buy-to-let mortgage? If the latter applies to you, then you will need to make sure you are receiving the best advice. Buy-to-let mortgages can be extremely complex, so you will need an experts opinion on the best way to approach your mortgage and the different lenders that are available to you. This is where mortgage brokers and advisors come in.
Mortgage brokers can save you time, stress and, eventually, a lot of money. They will handle everything for you. This stretches from searching for the best deals to the application process and continuous communication with the lender. Essentially, mortgage brokers have the experience, the software and the existing relationships with lenders that are required to get the very best mortgage products.
This is especially true for buy-to-let mortgages. Buy-to-let mortgages can be much more complicated and varied than typical residential mortgages. Furthermore, lenders generally see buy-to-let mortgages as higher risk than residential mortgages. Because of this, lenders can either inflate interest rates to cover this risk or refuse to offer them at all. As you can see, buy-to-let mortgages can be hard to navigate. That is why we recommend our buyers speak to a mortgage broker as soon as they have reserved a property with CityRise.
As part of CityRise’s turn-key solution to property investing, we have our own recommended mortgage brokers that will guide you with your purchase. They have been carefully selected based on their experience, efficiency, and reputation. By utilising their services, you can rest in the knowledge that you will have access to the widest range of products at the most competitive rates. Regardless of whether you are based in the UK or overseas, they are here to help get you the best deals available on the market.
If you are purchasing a property for the first time, or are not familiar with how buy-to-let mortgages work, then you are in the right place! Our comprehensive mortgage guide will provide you all the information you need to get started.