01235 555028

Buy to Let

buy-to-let

If you are buying your first property to let:

  • You may need a deposit of at least 20% of the purchase price
  • You may need a short hold tenancy rental agreement with your tenant
  • The rental normally required by lenders varies but typically it needs to cover 125% of the monthly repayment amount for the mortgage taken.
  • There is no real limit to the number of properties purchased you simply must have sufficient rent to cover the mortgages.

Some points to note:

  • It may be advisable to have spare money for the general upkeep and maintenance of the property
  • You may wish to include within the rental agreement payment of the utilities and council tax by the tenant
  • We can also arrange Landlord’s Insurance to protect the buildings and contents of your property.

Call us now on 01235 555028 or email info@ofmortgages.co.uk