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A buy to let mortgage is a type of home loan for buying property that you intend to rent out to tenants for a profit. You can also remortgage a buy to let property, releasing equity for cash or you switch to a better deal with a new or your existing lender.
Friends Capital have existing relationships with Buy to Let lenders and are experts in buy to let remortgages. We can help you find the best possible mortgage deal. We will review your personal circumstances and then search the entire market to ensure you get the best mortgage rates possible. We will then deal with all the paperwork, submit your mortgage application, liaise with your mortgage lender and solicitor, and ensure that your mortgage application is completed as quickly as possible. We can:
It’s very common to remortgage a buy to let property. You may want to remortgage for the following reason:
Read our advice article – Should you re-mortgage? – How to earn cash from your home >
The majority of borrowers remortgage at the end of a deal term. This is to avoid moving onto higher standard variable rate (SVR). The SVR from a lender is often much higher, sometimes double the amount of the fixed rate.
It’s important to start preparing for a new mortgage a few months before your current deal expires. We recommend planning for a remortgage 3-6 months prior to the end of your fixed rate mortgage end date.
In some cases, you can switch your mortgage earlier; however, fees may apply. Speak to a mortgage broker, and they can advise you on whether it’s worth changing your mortgage early or not, and tell you how much you can save.
This really depends on whether you’re staying with the same lender or changing. If you are staying with the same lender four to six weeks is typical, for a new lender eight to twelve weeks is more likely.
Friends Capital have pre-existing relationships with buy to let mortgage lenders. We can search the entire market and get access to the best and most exclusive deals available. Then we will choose the deal that are most appropriate to your personal circumstance. We can:
One of our friendly advisors will either call you back within 24 hours (usually the same working day), or will take details from you in order to best deal with your situation.
When you speak with us, we will take a ‘fact find’. At this stage we take basic details about your situation. We will then search the whole of the market and find you the best deal available.
If you are happy with the deal that we offer, we will then contact the lender for you and get you what is called a ‘decision in principal’.
If you’re happy with the decision in principal then we will secure this deal for you and deal with the application for you on your behalf.