Buying to Let

It all begins with an idea. Maybe you want to buy a Property to Let out which you may see as a long term investment for your future.

But how will you let it out? On a longer term basis for six months or more? Short-Term - for example, on a ‘holiday let’ basis?

Lenders will consider most circumstances - but the important thing to consider is that not all mortgage lenders provide Buy to Let Mortgages - and those which do, some won’t lend if there are some specific letting plans - the lending criteria they set establishes how they can look to assist.

Some lenders may not lend for holiday letting - and when seeking a property on this basis, pay close attention to any restrictions on how the property you find can be used - for example, restricted use during periods of the year.

Other specialist letting scenarios can be considered - such as Houses of Multiple Occupation (known as HMOs), sometimes also used for Student Lettings.

When considering any property for letting, lenders rely on the opinion of the appointed Valuer on the property condition and whether it is in ‘lettable condition’ - so if a Valuer thinks a property is not yet habitable for tenants, there’s a high chance the Valuer will not consider it suitable security for the mortgage loan.

That’s when Specialist Lending can become an option for property investors as a solution to a problem.