Mortgages are versatile, and if you have a good understanding of what is out there, and how it can benefit you, then you could be on your way to building up some sound investments. A good broker is not only knowledgeable about what is possible but can look at your specific situation and offer advice about how you could leverage property to increase your investment portfolio.
Did you know that you could also use the built-up equity in your home to purchase buy-to-let properties?
Why would someone be interested in re-mortgaging for a buy-to-let property? The main reason is to increase investment, pension income, creating income.
There are many lenders that offer borrowers attractive re-mortgaging options. However, to sift through these and determine which might be right for you can be cumbersome. Cross-referencing mortgages against each other, evaluating lender fees, broker fees, and conveyancing can be likened to spinning plates.
Not only that but as this is a buy-to-let property there will be many other factors that you will need to consider such as the rental market, your obligations, etc.
A key thing to remember with any mortgage is key advice from the FCA (Financial Conduct Authority) “your home may be repossessed if you do not keep up with payments”.
Journey Mortgages is a specialist broker that can help you with re-mortgaging and more. Get in touch, and one of our friendly team with be happy to help you with your inquiry.