Buy to Let in Nottingham

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Mortgage Advice for a Buy to Let in Nottingham

If you need mortgage advice for a buy to let in Nottingham, you’ve come to the right place. Our knowledgeable and skilled buy to let mortgage advisors have been helping landlords for the past 20 years – we’re experts within this field.

 

As a mortgage broker in Nottingham, it is our job to guide you through the whole buy to let mortgage process. We will also try and find you a buy to let mortgage product tailored to your specific financial situation as a landlord.

 

Buying Through a Limited Company

Are you planning to buy your buy to let in Nottingham through a limited company (SPV)? If so, we can help!

 

Our buy to let mortgage advisors are also highly qualified when it comes to working with specialist buy to let situations. The team would be more than happy to run through all of your possible buy to let options with you.

 

We can also help with HMO’s and holiday lets too, if that’s something that you’re interested in.

 

If you want to speak with a professional about taxation benefits, you will need to contact a tax adviser.

How does it work?Get a quote nowMeet your advisor

The Financial Conduct Authority does not regulate some types of buy to let or commercial mortgages.

We search 1000s of mortgage deals across a large number of lenders, including:

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Buy to Let Mortgage Advice in Nottingham

We have helped many landlords secure a competitive buy to let mortgage products in the past, here are the most popular scenarios that our mortgage advisors in Nottingham come across:

 

Residential Buy to Let in Nottingham

As a mortgage broker in Nottingham, this is the most common option for buy to let in Nottingham. This is where the landlord is buying with the sole intention of renting out the property.

 

House of Multiple Occupancy (HMO)

This is a specialist but popular type of buy to let in Nottingham. A HMO is a property that is shared by multiple households. This means that you’ll get individual rent payments from each tenant.

 

You should speak with your local authority to find out the rules and requirements for a HMO buy to let in Nottingham.

 

Buying through a Limited Company SPV

For landlords with a large buy to let portfolio, we’ve found that it’s becoming more common to invest in buy to let through a limited company special purpose vehicle (SPV).

 

Despite having to pay higher interest rates through this method of buy to let, you may be able to save money on tax.

 

Holiday Lets

This option for buy to let in Nottingham is for people looking to purchase a holiday home to rent out. Our mortgage advisors in Nottingham will be able to go through these details with you.

 

As a mortgage broker in Nottingham, we work with a large number of mortgage lenders, including a broad range of specialist lenders for buy to let in Nottingham. Our team have in-depth knowledge of each lender and their different lending criteria.

Buy to Let Mortgages Nottingham

Buy to Let Specialists in Nottingham

There are many different reasons for landlords to invest in a Buy to Let in Nottingham. Some do it for future property/capital growth, whilst others do it to supplement their current income. Some see it as a long term investment, looking at retirement planning.

 

Free Mortgage Appointment for a Buy to Let in Nottingham

If you’re thinking about maybe turning your current home into a buy to let in Nottingham before moving onto a new property, we would advise that you take the time to speak with a mortgage broker in Nottingham, like us! We may be able to help!

 

Open and Honest

Our mortgage advisors in Nottingham would be able to help arrange your new purchase and existing property mortgage should you wish. You may also be able to remortgage your current property onto a buy to let and at the same time, raise money for a deposit towards a new home. By speaking with an expert, you’ll be provided with a reliable service and transparent service.

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Common mortgage
questions

The required mortgage deposit for a buy to let property usually falls within the range of 20-40% of the property’s value and may vary depending on factors such as the mortgage lender, the property itself, and your buy to let history.

Our dedicated mortgage advisors in Nottingham will provide you with a free mortgage appointment that typically lasts around 30 mins.

During this appointment, we will gather information about your financial and personal situation.

Based on the information obtained during the consultation, your mortgage advisor in Nottingham will then search for the ideal mortgage deal tailored to your specific needs.

If you are satisfied with the mortgage offer presented by your mortgage advisor in Nottingham, the next step is to proceed with your mortgage application.

Our mortgage process is composed of several stages. Firstly, we will ask you to complete our Fact Find to provide us with a clear understanding of your mortgage needs and goals.

Next, you will have a free appointment with a mortgage advisor in Nottingham, who will begin searching for mortgage options that are tailored to your individual circumstances. If we find a suitable offer that meets your requirements, we can proceed with your mortgage application.

To obtain an agreement in principle, we will conduct a credit check on you and gather supporting documents to validate your mortgage application.

Once we have submitted your mortgage application, we will wait for a formal mortgage offer to be issued.

We highly recommend obtaining an agreement in principle before you start viewing properties if you’re planning to apply for a mortgage.

This is because an agreement in principle is usually required to make an offer on a property, and it can also help you negotiate prices.

As a mortgage broker in Nottingham, we can help you to obtain an agreement in principle from a mortgage lender, which demonstrates their willingness to grant you a mortgage based on your financial circumstances.

With an agreement in principle in place, you can have a better idea of what properties you can afford and approach the buying process with more confidence.

The validity period of an agreement in principle (AIP) typically ranges from 30 to 90 days, but this may vary depending on the specific mortgage lender.

In case your AIP expires before you find a suitable property, you can easily renew it by contacting your mortgage advisor in Nottingham or the mortgage lender.

As a mortgage broker in Nottingham, we often see customers seeking a second mortgage for various reasons. Some of the most common reasons include:

– Consolidating debt.
– Making home improvements.
– Investing in a buy to let property.
– Other reasons, such as purchasing a holiday home or helping a family member with a mortgage.

Obtaining a mortgage may be a bit more challenging if you have a history of bad credit, but it’s not impossible!

In such cases, some mortgage lenders may require a slightly larger deposit from you, typically around 10-15%.

Whilst this is the case, there may still be many options available to you, and as an experienced mortgage broker in Nottingham, we can help you find a mortgage lender that is willing to work with your situation.

Submitting at least one year’s worth of accounts increases your chances of getting approved for a mortgage.

The mortgage lenders we work with typically consider your salary plus dividend to determine the maximum mortgage amount.

Some lenders may base their calculations on your net profit. The criteria varies from lender to lender.

– Photo ID (Driving license, Passport, etc.).
– Proof of Address (Utility bills, tax bills, credit card statements, etc.).
– Latest 3 months’ payslips & Latest P60 (employed applicants)
– Latest 2 years’ tax calculations and corresponding overviews (self-employed applicants)
– 3 months’ bank statement proving the deposit being built-up with an explanation for any large credits.

Typically, your free mortgage appointment in Nottingham will take approximately 30 mins.

After the appointment, we can provide you with an agreement in principle, usually within 24 hours. Once you have decided to proceed, the next step is to submit your mortgage application.

On average, it takes about three weeks to receive a formal offer from the mortgage lender.

We make it so easy!
Our 4 step process

Step 1

A telephone call where we can take some initial details and find out about your plan of action.

Step 2

Enjoy finding a property in Nottingham!

Step 3

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Step 4

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

Handy quick links

Nottinghammoneyman.com & Nottinghammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

© 2023 Nottinghammoneyman

Nottinghammoneyman, Gothic House, Barker Gate, Lace Market, Nottingham, NG1 1JU.

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