Buy to let Mortgages & Investment – New Builds
New build
One of the key factors is the new build market. New build continues to rage with the demand for the builders and investors still in ascendancy.
Most mortgage lenders, allow an uncapped builder deposit, provided the applicant puts in 5 per cent, and often accept post-completion incentives. A couple of lenders will eve will lend without an applicant deposit even if the vendor’s cash deposit is up to 15%. This is excellent news for the portfolio builder as their cash deposits can be used for the next property acquisition. Some investors only buy new builds so in theory they haven’t putt a penny down when using these lenders.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The overall cost for comparison is 7.1% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. There may be a fee for the mortgage advice. The precise amount will depend on your circumstances, but we estimate it will be 1.5% of the loan amount with a minimum fee of £500 added on to the loan.
Mayfair Consulting Limited is an Appointed Representative of The Mortgage Times Group Limited, 279 Tottenham Court Road, London , W1T 7RJ , which is authorised and regulated by the Financial Services Authority no. 303007.
