Mortgage Application & Conveyancing

The Buy-To-Let Mortgage marketplace has seen great changes over recent years, the tightening of the banking criteria has meant that banks are more careful how they lend their money. Each bank sets their own lending parameters and guidelines, and there are limitations on the amount of exposure they are prepared to give to each individual investor.

So that you can act quickly when you find an investment property it would be advisable to talk directly to a Mortgage Broker, who can provide you with ‘whole of market’ buy-to-let advice.

Once your offer has been accepted for your buy-to-let property you will need to confirm;

The mortgage you require – fixed or variable. Most property investors go for a Fixed mortgage which reduces one of their variables.

The level of survey you require – the more structural work required the more expensive survey would be recommended. However, for a simply buy-to-let investment most investors go with the basic valuation, required for mortgage purposes.

 

Insurance – You will require buy-to-let insurance. The lenders make it a condition of the mortgage that Buildings Insurance ‘goes on risk’ the day of Exchange, as you are legally liable to Complete on the contract at this point. Dependent on whether you are furnishing the property you will also need to consider Contents Insurance.

How can I help?

We own a family run Mortgage Business Alton Mortgages Ltd, and as your Mortgage Broker my husband, Richard is very much one of the Alton Property Partner team. Having run his business for 7 years he fully understands the buy-to-let marketplace, and acts on behalf of our investors with great speed (particularly important if you are purchasing a repossession). Richard takes time to liase with all our investors prior to putting in any offers, so that he understand their personal circumstances and therefore can provide mortgage illustrations and advice which best suits our investor’s requirements. He will then ensure the application goes into the system in a timely manner.

 

Because of our Alton Property Partner unique ‘one stop shop’ solution, our investors have the peace of mind that their Mortgage application is moving smoothly through the process, and they will be proactively kept informed of progress. This is particularly important if you are purchasing a Repossession, as Completion is required within 28 days of the acceptance of the offer.

We will also ‘join the dots’ up for you regarding keeping the Estate Agent and Solicitor up to date with progress (please refer to Exchange and Completion) and through Alton Mortgages we arrange your Buildings Insurance. Therefore, removing a time consuming and stressful part of the property investing pipeline.

We really do take our responsibility of being your property partner seriously, so this means you can feel confident that your interests are being looked after, without the need for you to take time out of your busy schedule.

Step 1: Consultation & Strategy

Step 2: Sourcing Property

Step 3: Financial Analysis & Negotiation

Step 4: Mortgage Application & Conveyancing

Step 5: Exchange & Complete Contracts

Step 6: Light Refurbishment & Letting Agent