As a mortgage broker / advisor we can advise you “without prejudice” on each of the different banks (operating in the broker market) mortgage offerings for those wishing to purchase an investment property.
Investment property mortgage
Banks we deal with::
Some of the items you might be considering are:
- Which bank will give interest only? – up to 10 years with one bank
- Which bank will be the most generous when assessing rents?
- What mortgage rates are on offer?
- Which bank will allow you to top up / raise finance from an existing Investment Property? – up to 50% LTV
After assessing your individual situation and advising you accordingly we will then professionally package your application so that it meets fully with the expectations of the proposed bank.
In addition we are flexible with regard to meeting times so you don’t have to take time off work, as you would with a main street bank.
NB At present we are not charging mortgage customers a fee – if we cannot get you a mortgage we will not be paid commission by the banks. Also, it is worth noting that the mortgage rates you get from a Broker are the same as those available by going into a branch or applying online.
We will review your current financial position, listen to what you want to achieve and recommend a suitable mortgage solution that is right for you and meets your needs.
Effect of missing repayments
Warning: IF YOU DO NOT MEET THE REPAYMENTS ON YOUR LOAN, YOUR ACCOUNT WILL GO INTO ARREARS. THIS MAY AFFECT YOUR CREDIT RATING, WHICH MAY LIMIT YOUR ABILITY TO ACCESS CREDIT IN THE FUTURE.
Warning: IF YOU DO NOT KEEP UP YOUR REPAYMENTS YOU MAY LOSE YOUR HOME.
If your mortgage is ever on a variable rate
Warning: THE COST OF YOUR MONTHLY REPAYMENTS MAY INCREASE.
If your mortgage is ever on a fixed rate
Warning: YOU MAY HAVE TO PAY CHARGES IF YOU PAY OFF A FIXED-RATE LOAN EARLY.
If you have included debt consolidation in your mortgage
Warning: THIS NEW LOAN MAY TAKE LONGER TO PAY OFF THAN YOUR PREVIOUS LOANS. THIS MEANS YOU PAY MORE THAN IF YOU PAID OVER A SHORTER TERM
Interest only mortgages
Warning: THE ENTIRE AMOUNT YOU HAVE BORROWED WILL STILL BE OUTSTANDING AT THE END OF THE INTEREST -ONLY PERIOD