BTL mortgages - where to start - london & Country/ Moneysupermarket?

(6 Posts)
charlottenina Fri 26-Apr-13 22:21:24

would like to buy BTL flat or maisonette - where to start to look for mortagegs please? London and Country are brokers - are they good? or shall I use moneysupermarket?

lorrikeet Sat 27-Apr-13 00:49:24

look on money supermarket to get an idea of interest rates and deposit requirements, but I would always use a broker; they know all the lenders and will find you the best deal. they get their fee from the lender so it won't cost you.

There's no harm in just phoning a couple of brokers for advice, and you need to know before you go out looking at flats: what deposit is required, what are the interest rates, does the rent have to be so much% more than the mortgage payments, and do you have to demonstrate an income.

other types of restrictions have applied at certain times; sometimes no ex local authority, sometimes no balcony access, sometimes nothing with more than 5 bedrooms..... It seems to change all the time, so best idea talk to a broker and get all the info in one easy phone call rather than trying to figure it out for yourself from the internet.

I've used both an independent broker recommended by an estate agent, and john charcoal. been happy with both. There are also buy to let landlords noticeboards for advice.

charlottenina Sat 27-Apr-13 05:50:06

where is the notice board please

financialwizard Sat 27-Apr-13 06:15:02

Charlotte you can PM me. I am a mortgage consultant who works from a panel of lenders and am hth.

lorrikeet Mon 29-Apr-13 22:59:23

google for landlord chatrooms, have a read of propertyhawk.com...
I'm not recommending the advice on these sites, and there are many more out there...but by doing lots of research you will become better informed.

VanessaWarwick Sat 15-Jun-13 09:25:57

Message deleted by Mumsnet for breaking our Talk Guidelines. Replies may also be deleted.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now