Buy to Let Mortgages
Want to become a landlord or build up an existing property portfolio? The mortgage is one of the most important considerations; you cannot take out a standard residential loan, but many banks and building societies offer Buy to Let mortgages, specifically for landlords. This type of mortgage is very important to the success of your property as an investment. Also, picking a property that isn’t right for you could cost you more in the long term than what you make.
We give mortgage advice for people letting their first property and experienced property magnates alike. We’re not limited to offering advice either; we work with many different lenders to give you very competitive rates on your mortgage. When you are looking for Buy to Let mortgages, the main things you will want are:
- The mortgage payment to cost roughly 30% less than your rental income.
- The lender to allow you to swap it to another property.
- No penalties if you want to repay early.
- Interest calculated on a daily basis.
- Flexible payment options.
If you need a Buy to Let mortgage in Plymouth, contact Ocean Mortgages today.
There are two equity release options:
You take out a mortgage secured on your property provided it is your main residence, while retaining ownership. You can choose to ring-fence some of the value of your property as an inheritance for your family. You can choose to make repayments or let the interest roll up. The loan amount and any accrued interest is paid back when you die or when you move into long-term care.
You sell part of or your entire home to a home reversion provider in return for a lump sum or regular payments. You have the right to continue living in the property until you die, rent free, but you have to agree to maintain and insure it. You can ring-fence a percentage of your property for later use, possibly for inheritance. The percentage you retain will always remain the same regardless of the change in property values, unless you decide to take further cash releases. At the end of the plan your property is sold and the sale proceeds are shared according to the remaining proportions of ownership.
Equity Release isn’t for everyone even though it works well for many people. You should always look at all options available to you before deciding on Equity Release. We can advise on the technicalities and specifics of different schemes to ensure you are choosing the right product for your requirements. Understanding the implications and effects of a scheme on inheritance and other issues is very important. We work independently for our clients ensuring your best interests are at the heart of our work. If you’re interested in Equity Release in Plymouth, contact Ocean Mortgages today.
Ocean Mortgages are passionate about helping you with all your needs and, as an Independent, Whole of Market Mortgage Broker firm, we can do this by searching the whole market for you. We can help you with a mortgage to help you buy your first home, a mortgage for a new home, moving lender for a better deal or Equity Release for your home. Shore can help people aged 18 to 80. You may be looking to review your Life Cover, Income Protection or Home Insurance. We help people with all of these areas and are regularly amazed by how much extra cover we can help clients with, or reduce the amount they currently pay. We review existing policies or help clients with new ones. We can also help with Private Medical Insurance to avoid NHS queues. If you are looking for a Mortgage Broker firm in Plymouth who will work tirelessly for you, you have found us. Call Ocean Mortgages Ltd now on 01752 658906 or 07773 422220 for more information.