Hear from our partners, Lifetime Finance Group
Today we introduce Gordon Hunter, Managing Director of the Lifetime Finance Group.
The Lifetime Finance Group have over 25 years’ experience in the Mortgage Market both in residential mortgages and Buy to Let and are the Financial Services partner for D J Alexander Estate Agency and Lettings.
Based in Scotland, Lifetime Finance Group have an extensive track record of navigating clients through many different economic scenarios and despite some of the recent concerns in the media about Buy to Let their view is that there are still many opportunities out there for landlords with the appropriate guidance.
Lifetime Finance Group will take each individual client’s circumstances into account before looking to source the best lender for those circumstances and this article should provide a general guide on “Who can actually obtain a Buy to Let Mortgage?”.
If you're thinking of investing in a Buy to Let it is worth noting that deposits tend to be higher simply because the lender feels there are greater risks. Therefore, a good Mortgage Broker will be essential in helping you understand deposit levels and finding you the best lender to suit your circumstances and the type of property you are investing in.
Sometimes given the inherit risk a lender would want a Buy to Let client to already have their own home (with a mortgage is fine). By way of initial deposit most Buy to Let Lenders in the UK will ask for a minimum 25% deposit, although sometimes 20%. They will want to know the source of those funds understandably and will need some evidence you have been sensible with your financial affairs and what your employment status and income are.
Never has it been more important to do your homework with the expert guidance of a qualified Mortgage Broker who specialises in this side of the market. They will hold your hand from initial inquiry, through pricing and lender criteria, and provide you with an Agreement in Principle (AIP) to allow you to negotiate on a property with the added backing of a mortgage in principle at your fingertips.
Given some of the conditions in the housing market there are sure to be opportunities to negotiate prices for property right now with the guidance of an agency behind you.
Should you wish to find out more then don’t hesitate to contact the Lifetime Finance Group on 0800 211 8700 or email email@example.com
Gordon Hunter, Managing Director