13:29 PM, 11th August 2014, About 7 years ago
I regularly update the products on our own in house Buy to Let Mortgage sourcing system and calculator. This takes quite a bit of time, but it is definitely worth it is worth reminding readers what it can do as it is our own in house design specifically based around the needs of property investors.
It will not only find products for the amount you have requested, but also show you how much you could borrow as a maximum so you can request figures based on either.
The first Key inputs are the Value of the property or Purchase Price, the amount you want to borrow and the Rental income pcm
Other key inputs are:
Income – many lenders have a minimum income level for applicants although this does not affect the loan amount as it is based on rent.
Preferred rate type Fixed or Variable – Do you want it to search for products where the interest rate will remain the same for the term of the product or are you happy to take the risk of a rate that may change up or down. The system will then only show results for the type you choose (although you can easily change your mind).
You will then get a list of results (see example below) which will show:
Then just click on the Get quote Link for the loan requested or the maximum possible loan.
You will then get an full illustration of the product you selected along with a financial summary showing:
And much more see below:
You can find The Buy to Let Mortgage sourcing system and calculator under our Finance tab see below or CLICK HERE to start your search
If you would like our help applying for a Buy to Let mortgage and finding the best deal for you just complete the form below and we will get back to you asap 🙂
Previous ArticleReduction in Capital Gains by transferring to spouse