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As a BTL investor would you choose best rate or right finance?

April 1st 2019
By: Natasha
As a BTL investor would you choose best rate or right finance?

Everyone wants to think they have the best deal when it comes to a mortgage rate. But you need to be careful not to just go for what looks the ‘best’ rate but to find the right deal for you. Good mortgage brokers such as Embrace Mortgage services will help you get the best deal for your circumstances. Sometimes the best deal is not always the lowest rate available because there are so many things that can affect your costs. 

Depending on your circumstances there are all sorts of factors to consider before you jump at a low rate mortgage. It is a good idea that you have really considered what kind of changes in circumstances the future might bring or what kind of opportunities you might want to consider for your buy to let property or properties. 

For example, if you are a bit older and wanted to extend your mortgage or mortgages you might not be able to as some lenders do not allow people to have a mortgage beyond the age of 75. What if you wanted to let your property to a family member, maybe not immediately in the future would your lender be happy with this?

If you are thinking you might develop your buy to let property into an HMO, so you can rent it out to more people you will need a specialist mortgage product. Likewise if you were thinking to covert a larger investment property into flats or bedsits you will need to make sure you have the right mortgage as not all lenders are happy to finance these kinds of developments.

You may have a property that has surrounding land that could be developed. If you were looking to sell part of the land that belongs to the property, this could affect the capital value of the original property and potentially reduce the number of mortgage deals available to you.

It really depends on your own personal circumstances and your thoughts on developing your property portfolio. Embrace Mortgage services can help you look at all your options to find the right deal for you.

Your property may be repossessed if you do not keep up repayments on your mortgage. Embrace Mortgage Services usually charge a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.