Buy-to-Let

This product has been specifically designed to finance the purchase of a residential property or to remortgage an existing property.

It is important to ensure that the anticipated rental income will be in excess of the mortgage interest repayments.

In addition, you should consider how the mortgage would be maintained if it is not possible to let the property for extended periods or if the rental income falls.

Independent legal and tax advice should be obtained before proceeding.

A buy-to-let property should be regarded as a medium to long-term investment and not as a means of achieving short-term gains.

The Society will lend on most residential properties, e.g. houses, bungalows, both purpose built or converted leasehold flats and maisonettes (up to the fourth floor). Leasehold properties must have at least 30 years remaining on the lease at the end of the mortgage term.

As well as the usual Assured Shorthold Tenancy Agreements, we will also lend on properties where there is a regulated/sitting tenant; you intend to use the property as a holiday let, or where you intend to live in part of the property and also to let part.

Key features of this mortgage

* The actual rate payable will depend upon your individual circumstances, please ask for a personalised illustration.

Buy-to-Let mortgages are not usually regulated by the Financial Services Authority (FSA). Follow this link for information regarding Mortgage Regulation.

To discuss your requirements, either complete our on-line Enquiry form or telephone our Mortgage Department on 01582 765411.

Building insurance cover is required and can be arranged by the Society.