We contacted Nicola as she had been recommended to us by our solicitor. We are genuinely delighted with the service she provided and will definitely use her again in the future and recommend her to others.
Our advisor Nicola was with us every step of the way and her extensive knowledge and impartial advice removed any extra unwanted stress from the process.
We would not hesitate to recommend her to our friends
and family and look forward to using her again in the future.
In recent years Glasgow has been a hotspot for Buy to Let investment opportunities.
The city has relatively low house prices (and house price growth) combined with strong rental demand.
These factors mean Glasgow has been generating better average rental yields than can be attained in cities like London where higher property prices have acted to limit the potential yield in many areas.
Demand for student housing in and around Glasgow is particularly high.
There are four major universities within a ten-mile radius of the city centre, as well as a number of further and higher education colleges.
The potential for student lets is well supported by the 2011 census, which showed more than fifty-three thousand full-time students residing in Glasgow.
More than any other Scottish city.
If you’re a first-time property investor, the prospect of applying for a Buy to Let mortgage can be intimidating.
Even if you’re an experienced landlord with an existing portfolio of properties, changing lending policies and market conditions in recent years may leave you with questions about your finance options.
At Malleny Mortgage Solutions, Nicola Dean and Gregor McMeechan have years of experience in handling Buy to Let mortgage applications.
As mortgage brokers with access to a comprehensive range of thousands of mortgage products, they will search the market to help find the lender and financing option that is right for you.
Their priority is to ensure you are well informed and have all the information you need to make the right decision.
The higher risk associated with Buy to Let lending means that you will usually pay more than for a comparable residential mortgage. Both in interest rate and arrangement fees.
To offset the perceived risk most Buy to Let lenders also look for a larger deposit.
While some lenders might offer mortgages of up to 75–85 per cent loan to value, to qualify for the best deals you may find that you have to put down a deposit of at least 40 per cent of the property value.
When you apply for a Buy to Let mortgage, you should be prepared for lenders to apply quite different criteria to assess your application than you might be used to.
A standard house purchase mortgage application will usually be assessed based mainly on household income and expenditure and the applicants’ credit history.
When you apply for a Buy to Let mortgage however, your estimated rental income will be taken into account.
Either on its own or in combination with other income sources.
It is common for Buy to Let lenders to look for the property’s projected rental income to exceed the monthly mortgage interest payment by a certain margin, typically 25%.
For example, if the interest-only mortgage payment is £600 per month, the lender may require a minimum projected monthly rental income of £750 from the property.
Call for an initial consultation and no-obligation quote.
To find out the Buy-to-let mortgage deals available to you, call Malleny Mortgage Solutions now on 07812 125840.
Or simply fill out your details in our request a call back form. Nicola or Gregor will then call to discuss your requirements at a convenient time for you.
Nicola Dean and Gregor McMeechan at Malleny Mortgage Solutions have huge experience of handling Buy to Let mortgage applications - with major lenders as well as more specialist finance providers.
We look forward to helping you find the right BTL mortgage deal soon.
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Our fee for Mortgage Advice is between 0% and 1% of the loan amount, payable on application. Typically this will be £495.