Buy to Let Mortgage

A Buy to Let Mortgage is specifically designed to allow the purchaser of a mortgage to let out or rent the property they have purchased to tenants. As with any form of borrowing there are risks you must be aware of before making major decisions.

We can advise you on your best options when it comes to borrowing, whether you wish to build a portfolio of properties or add a single additional property for investment, we can tailor our advice to your personal needs.

Benefits include a steady stream of income from tenants and increased wealth if property prices rise in your area.

On the other hand, risks involved with purchasing a buy to let mortgage include adverse changes in government policy or a decrease in property prices.

Northern Ireland Buy to Let Mortgages

With over 20 years of experience in the Insurance and mortgage industry in Northern Ireland, Complete Mortgage Solutions offers advice tailored to your needs so we can help you to compare buy to let mortgages and realise your best options.

Payment options on a buy to let Mortgage

There are two main ways in which a buy to let mortgage may be repaid once acquired which we will explain below.

Buy to Let Repayment mortgage option

The Buy to Let repayment mortgage option is the traditional method of paying a borrowed sum, or capital, gradually over time on a monthly basis plus interest. While initially more expensive, this method ensures that there is no large lump sum to be paid at the end of the mortgage.

Interest only buy to let mortgage Northern Ireland

Another type of Buy to Let mortgage you can choose to repay is an interest only mortgage. An interest only buy to let mortgage is distinguished from a traditional repayment mortgage as each month the borrower is only required to pay interest on the mortgage. The capital, or the initial amount borrowed is required to be paid at the end of the mortgage in one lump sum.

While only paying rent initially may seem like an attractive option, you are required to pay a large lump sum at the end of your mortgage. This requires a pragmatic management of one’s finances, and adds more uncertainty to your mortgage as future financial conditions may be less favourable at the time when you are required to fulfil your obligations.

Interest only options may vary so if you want more information on specific options please contact us.

Interest rates themselves may be fixed or variable

Fixed Interest Rates

Fixed interest rates offer peace of mind to the borrower as their interest rates will never increase during an agreed period of time. However this also means that their rates will not decrease during this time regardless of market conditions.

The fixed interest rate adds a sense of security, but limits flexibility. There may be monetary penalties if you wish to change an aspect of your repayments.

Variable Interest Rates

Variable rates are more flexible than a fixed interest rate. They allow the borrower to top up, extend, or pay extra off their mortgage without facing any penalties. However with this flexibility comes uncertainty. The interest rate may rise or fall due to a variety of external factors.

There are different types of variable interest rates that we can discuss with you in more detail if you would like to contact us below.

Limited Company buy to let mortgage Northern Ireland

Another option for potential investors is to apply for a buy to let mortgage through a limited company. Limited companies offer different advantages and disadvantages when applying for a buy to let mortgage.

While you may benefit from paying tax on the property at a lower rate, you will not be entitled to allowances that personal borrowers are awarded. The protection that a limited company inherently has will not absolve you from a personal guarantee you may be required to agree upon to receive the mortgage.

A limited company has its own set of rules and regulations that you are required to comply with by law, including but not limited to accounting and directing responsibilities as well as the additional cost of running

the company. It is important to discuss the viability of this option with a professional as it is not the best solution for every potential borrower.

Best buy to let mortgage Northern Ireland

To find the most competitive buy to let mortgages in Northern Ireland, please contact us. We can arrange a one to one meeting to understand and identify your goals find the best solution for your needs. We can also arrange our meetings to suit your schedule.

The best buy to let mortgage in Northern Ireland is the mortgage option which understands your needs and goals. There is no one size fits all solution to personal finance. However with years of experience we can offer you your best options.

It is important to note that financial markets change on a constant basis. This is why talking to a financial expert is essential. We will advise you on the best solutions to achieve your financial aspirations, so you can feel confident in your decisions.

Best buy to let mortgage rates Northern Ireland

You can find out the best buy to let mortgage rates in Northern Ireland by contacting us for up to date current information.

This excerpt is not intended to be used as a fully comprehensive guide for buy to let mortgages. Rather it is intended to be used as an accessible and informative starting point for anyone interested in potentially utilising a buy to let mortgage to achieve their financial goals.

It is much easier to find your financial solution when you are aware of your goals. At Complete Mortgage Solutions our aim is to provide straightforward key advice without wasting your time or money.

If interested in finding out more about buy to let mortgages or you require any help with your own mortgage – which not read more on these pages or reach out and contact our team today:

Mortgage Broker Maghaberry

Mortgage Advice Lisburn

Mortgage Advisor Banbridge

Mortgage Advisor Dromore

Mortgage Advice Dunmurry

Please note: The Financial Conduct Authority does not regulate most Buy to Let Mortgages