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Mortgage advice for buy to lets in Cardiff
If you are looking for mortgage advice for a Buy to Let property in Cardiff, our open and honest Mortgage Advisors in Cardiff are here to help. We have a lot of industry knowledge on Buy to Lets in Cardiff, whether you're ready to take that first step and become a landlord or already have a lot of experience.
We have assisted many different property investors in securing fantastic buy to let mortgage deals as a trusted Mortgage Broker in Cardiff that works hard to help our customers achieve their goals. Our dedicated team will sift through 1000s of unique mortgage products to find you the best mortgage deal for your specific situation.
If you want to purchase a buy-to-let property through your limited company (also known as a Special Purpose Vehicle, or SPV for short), our hardworking team of mortgage advisors in Cardiff have plenty of experience with this and will be happy to discuss your mortgage options.
If you are looking for tax benefit comparisons, you should contact an experienced tax advisor who will be able to properly advise you on this topic.
Though we typically assist customers with standard residential buy to let purchases in Cardiff, we also have the ability to assist with HMOs (Houses of Multiple Occupancy) and holiday lets, so if you require assistance with one of these, book your free mortgage appointment with a buy to let expert in Cardiff and we'll see how we can help.
Bad credit buy to let mortgage
A mortgage broker in Cardiff can be an invaluable resource for those looking for a bad credit buy to let buy-to-let mortgage. Our brokers have access to a variety of lenders and mortgage products, including those designed specifically for those with less-than-perfect credit.
You can benefit from our expertise in navigating the mortgage market, including understanding the various requirements and restrictions that may apply to your situation. Our mortgage advisers can also assist clients in comparing and selecting the best mortgage options available for your buy to let requirements.
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Mortgage Advice for Buy to Lets Cardiff
We have assisted many different landlords in obtaining a mortgage on a property that they are investing in during our time working as a dedicated mortgage broker in Cardiff.
Customers may be looking for standard buy to let mortgage advice in Cardiff, holiday let advice in Cardiff, or HMO purchase advice in Cardiff. In any case, our quick and friendly mortgage advice team in Cardiff will be happy to look into your situation and find you the best mortgage deal for your needs.
Here are some of the more common mortgage scenarios encountered by our Cardiff buy to let mortgage advisors in the past:
Standard buy to let Mortgage
In the world of buy to let, residential mortgages are the most common. This is the typical buy to let, in which you buy and finance a standard residential property in Cardiff, allowing tenants to move in and pay you rent rather than living in it yourself.
The vast majority of borrowers looking to work with a buy to let in Cardiff will take out an interest-only mortgage, which allows them to pay only interest each month, resulting in lower monthly costs. This monthly fee is usually covered by the rental income, but the remaining capital must be paid in full by the end of your mortgage term.
Bad credit buy to let mortgage
A bad credit buy to let mortgage is a type of mortgage that is specifically designed for people with less-than-perfect credit who want to buy a property to rent out. These mortgages take into account the individual's poor credit history, which may make it difficult to obtain a conventional mortgage.
Interest rates on bad credit buy to let mortgages are typically higher than those on traditional mortgages, reflecting the lender's increased risk. Furthermore, the terms and conditions of these mortgages may be stricter, such as requiring a larger deposit or proof of income.
It is important to note that bad credit buy to let mortgages are not guaranteed, and it is important to speak with one of our buy to let mortgage brokers in Cardiff.
You've had an offer accepted?
Once you have secured acceptance for a property, our staff can assist in beginning the process of your full mortgage application. We always advise speaking with a Cardiff mortgage broker before making an offer so we can determine your eligibility for a mortgage and arrange for you to have an AIP to support your offer.
House of multiple occupancy (HMO)
A house in multiple occupancy refers to a property that is rented out to multiple tenants, typically with shared common areas. Student housing and house shares are two examples you may be familiar with. You may be required to obtain a licence from the local council depending on the size of your HMO property. It is recommended that you consult with the local government prior to making a purchase to ensure that you are aware of all legalities.
Because HMOs are technically a sub-category of buy-to-let in Cardiff, not all mortgage lenders have products available for them. Fortunately, for anyone looking to work with an HMO, we have a number of mortgage lenders who can provide mortgages for this type of purchase.
HMOs typically provide higher yields than traditional buy-to-let investments, though you should be aware of additional costs such as local authority licence fees and more frequent property maintenance.
Buy to lets through a limited company
We are increasingly seeing landlords use their limited company as an SPV to purchase property portfolios (Special Purpose Vehicle). This is especially true for landlords who already have a large portfolio to their name.
In general, purchases made through a limited company will result in the owner paying a higher interest rate when taking out a mortgage. There are also fewer mortgage products available from lenders for an SPV purchase than for a standard residential buy to let purchase.
In contrast to this, any costs involved are often greatly outweighed by the potential tax savings. We would always recommend that you consult with an experienced tax advisor before proceeding with this investment to ensure that it is the best option for you.
Holiday Lets in Cardiff
Holiday let mortgages work by allowing someone to make an investment in a property that will have multiple short-term tenants rather than any long-term tenants.
A holiday let, like an HMO purchase, is classified as a specialised investment. This means that you will have fewer options with mortgage lenders because there will be fewer products available. Our Cardiff mortgage advisors have also had a lot of experience assisting customers with their holiday let buy to let purchases, so they will be able to look for the best deal for your circumstances.
If your situation is similar to the ones listed above, or if you have a completely different case, please do not hesitate to schedule a free mortgage consultation with one of our Cardiff mortgage advisors. We will use our experience in buy to let mortgages to assist you with your mortgage needs.
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Our simple 4 step process
② Agreement in Principle - this document will act as proof of funds, allowing you to make an offer on a property.
① initial consultation - your chance to understand the process and ask any questions.
③ Offer Accepted - When a seller accepts your offer to purchase, we will begin submitting the full mortgage application.
④ Instruction - We will instruct the valuers, solicitors and liase with all parties to make the process as smooth as possible
