{"id":72670,"date":"2022-02-01T15:01:50","date_gmt":"2022-02-01T15:01:50","guid":{"rendered":"https:\/\/www.templewealth.co.uk\/?p=72670"},"modified":"2022-02-11T08:40:45","modified_gmt":"2022-02-11T08:40:45","slug":"btl-review","status":"publish","type":"post","link":"https:\/\/www.templewealth.co.uk\/btl-review\/","title":{"rendered":"Reviewing Your Buy To Let Mortgage"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.templewealth.co.uk\/wp-content\/uploads\/2022\/02\/paperwork-phoot-1024x683.jpg\" alt=\"\" class=\"wp-image-72671\"\/><\/figure>\n\n\n\n<p>With interest rates still at low levels and demand for rental properties increasing around the country, investing in a buy to let is a popular choice for many.<\/p>\n\n\n\n<p>Many fixed buy to let mortgage deals will be approaching the end of their term in the first quarter of 2022, so it\u2019s a good idea to review your buy to let mortgage.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Buy to let basics<\/strong><\/h4>\n\n\n\n<p>A buy to let mortgage is a specific type of product for those who want to buy a property with the intention of renting it. Because of this, there are different terms and rules around a buy to let mortgage (compared to a regular mortgage for a property the buyer intends to live in.)<\/p>\n\n\n\n<ul><li>With a buy to let mortgage, the anticipated rental income is taken into account when the lender calculates how much you can borrow<\/li><li>A buy to let mortgage could suit investors with enough equity to put down a deposit of at least 20% of the value of the property (but some lenders could require up to 40%.)<\/li><li>Your credit record is closely scrutinised with a buy to let mortgage, as with a regular mortgage application<\/li><li>Interest rates for buy to let mortgages are usually higher than a regular mortgage<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Things to remember<\/strong><\/h4>\n\n\n\n<p>If you have a buy to let mortgage already and its fixed interest rate term is coming to an end, you may be thinking about switching products or providers to gain a better deal. Here are some other things to look out for:<\/p>\n\n\n\n<ul><li>Examine all of your options into the type of product to suit your investment going forward. A financial adviser is best placed to help you with this<\/li><li>Don\u2019t forget to research any fees and charges around changing your product too, as these could be higher than you expect<\/li><li>When changing products, you may be asked about your property\u2019s rental income history in order to assure any new lenders that you are able to keep up with mortgage payments<\/li><li>Show that you have sufficient savings to cover any gaps in rental periods when your property could be unoccupied<\/li><li>For your own peace of mind, having a cushion of savings available to cover any essential repairs is important<\/li><\/ul>\n\n\n\n<p class=\"has-background\" style=\"background-color:#9f9162\">If you are looking to remortgage your buy to let property, or you are thinking about transferring your mortgage to a different provider, one of our independent advisers can help you find a product that best suits you. Contact our office on 01329 282882 or use our <a href=\"http:\/\/www.facebook.com\/templewm\">Facebook <\/a>or <a href=\"https:\/\/www.templewealth.co.uk\/contact-us\">Contact Us<\/a> page.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><em>Some buy to let mortgages are not regulated by the Financial Conduct Authority.  Your property may be repossessed if you do not keep up repayments on a mortgage.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With interest rates still at low levels and demand for rental properties increasing around the country, investing in a buy to let is a popular choice for many. Many fixed buy to let mortgage deals will be approaching the end of their term in the first quarter of 2022, so it\u2019s a good idea to [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40],"tags":[117,41],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reviewing Your Buy To Let Mortgage - Temple Wealth<\/title>\n<meta name=\"description\" content=\"Many fixed rate buy to let mortgage deals will soon be approaching the end of their term, so it\u2019s a good idea to review yours now.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.templewealth.co.uk\/btl-review\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reviewing Your Buy To Let Mortgage - 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Many fixed buy to let mortgage deals will be approaching the end of their term in the first quarter of 2022, so it\u2019s a good idea to&hellip;","_links":{"self":[{"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/posts\/72670"}],"collection":[{"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/comments?post=72670"}],"version-history":[{"count":0,"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/posts\/72670\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/media?parent=72670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/categories?post=72670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/tags?post=72670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}