Compare Buy to Let 5 Year Fixed Mortgages
Generally speaking, most buy to let fixed mortgages last for around 2-5 years, which make for a popular choice among those who are looking to use their property for rental purposes. If you are considering making a future investment in a buy to let property, there are a number of things that you should consider. These include:
- The location- you should do your homework and figure out where the popular rental properties are all based.
- If, for example, you are looking to rent to a group of students who do not drive, then a garage is not a requirement.
- Choosing a property with a garage would just add extra money onto the value of the property.
- Think about how much maintenance the property will need. Older houses will usually require more work than newer ones.
- Think about how much you can afford to spend on a property.
- Think about the target group of tenants you are looking for (e.g. students, couples, families etc.)
If you have thought about these things before you begin looking at different mortgage quotes, you will be much better equipped to find a great mortgage deal for your rental properties. Here are a few tips to think about when you are considering your buy to let property:
- Choosing a flexible mortgage deal that works around your personal needs.
- Thinking about what monthly payments you can afford.
- Thinking about hidden costs like agency fees and legal costs.
Extra costs may also include maintenance to property, furnishings, and contents insurance.
For independent advice on 5 year buy to let mortgage deals call our mortgage team on 0117 332 6063.