Getting The Best Second Property Mortgage Deals
It doesn't matter whether you are buying a second property with the intentions of just having it as a holiday home, or if you are going into it with the intention of turning it in to a holiday buy to let business, when it comes to getting the best second property mortgage deals you are going to have to go about it the right way.
Good second property deals can be found; they do exist but unless you have the expertise and know where to look you could spend a vast amount of time looking in the wrong places. There is a much easier option when it comes to getting the best second property mortgage deals and this is to go with an expert in the business, a specialist broker can save you a lot of time, money and stress simply because they know where to look when it comes to getting the best deal.
There is a lot for you to consider when it comes to buying a second home and the mortgage for your new property is just one of them. Mortgage taken out for a second home can vary vastly from the mortgage you took for your home. When it comes to the mortgage then you will have to decide if you are going into to the buy to let business, a mortgage for the buy to let business goes on different factors.
For example you will have to be able to prove that the property meets the requirements for a buy to let which means it should be fully furnished and be available for renting for a period of 140 days pout of the year. You will also have to prove to the lender that you will be able to drag in around 130% of the mortgage from your tenants. Of course your broker will have discussed this and will known what they are looking for when it comes to getting the best second property deals together for your consideration.
When it comes to getting the cheapest deal when it comes to getting the cheapest deal for your mortgage you should of course have given some consideration to the location of the property, if the lender doesn't think that the location is a choice then they will be reluctant in giving you a mortgage.
One of the rules is that you expect to bring in an income of around 130% of the mortgage in renting fees, so when it comes down to getting the best second property mortgage deals then choose a specialist broker.
Related Tags: holiday let mortgages, holiday property mortgages
Sean Horton is a Director of Holiday Home Mortgages, which offers UK residents the finance to buy a UK based holiday home. The site offers a Free Guide to download for Holiday Let Mortgages . Your Article Search Directory : Find in Articles
Recent articles in this category:
- The Secrets to Getting Low Down Payment Car Insurance
Upon purchase of a new car, there is almost always a requirement to buy an auto insurance policy as - The Wisdom Behind Auto Insurance Comparison Quotes
No one in his right mind would not go for a good deal. In fact, everyone is out on their feet and ru - The Benefits of Auto Insurance Comparisons Florida
Insurance can be expensive. This is something everyone knows about especially in the sunny state of - Auto Insurance Florida: The No-Fault Policy
There are different kinds of car insurance offered by a wide range of providers today. Different sta - Finding the Cheapest Auto Insurance Companies
Everyone is asking and searching for the cheapest auto insurance companies available today. Consider - How do You Compare Private Health Insurance Cover in Australia?
Deciding what is the best and most affordable private health insurance cover can be easy if you take - How Payment Protection Insurance Was Mis-Sold
For over six years the issue of Payment Protection Insurance (PPI) and how it was mis-sold to custom - Finding Quotes For Auto Insurance Online
One of the many concerns when you are shopping for auto insurance is being able to get access to quo - How You Can Find the Best Auto Insurance Online
When it comes to renewing your car insurance you are going to quickly discover that there are a numb - Guidelines For Searching For Auto Insurance Online
The internet can be a great source of discounts and values related to auto insurance. However, many
Most viewed articles in this category:
- Trading Forex With Pivot Points
Forex Pivot Point Trading are used today by Forex Traders and are calculated on the previous days mo - Where To Search For Free Grants
Where do you look for free grants? The search must be thorough or it could be an exercise in futilit - The Connection Between High Blood Pressure and Salt
We are a society of Salt Addicts. It cannot be denied. When you look at the things we do and the pla - Tips For Avoiding HYIP Scams
Before knowing about HYIP Scams, refer to the functioning of HYIP or "High Yield Investment Programs - Getting Credit After Bankruptcy
Consumers do not have to live sans credit following a bankruptcy. By following certain steps consume - Tips For Choosing A Credit Card
Are you looking for that perfect credit card? If so, you may be confused about what exactly to look - Cheap Car Insurance For Teens Online
Many elements determine a car insurance policy. Car insurance companies look at the person's age, hi - What Exactly Is Free Grant Money?
You can apply for free grant money from various government agencies. But where exactly does this mon - Small Business Owners Marketing and Customer Service
Marketing can be time-consuming, but it doesn't have to be hugely expensive now, thanks to the Inter - Apply Online For A Credit Card - How To Choose A Card?
The best type of credit card for you will be dependant on how you intend to use the credit card. Are