Buy to Let

Buy to Let Mortgages

With state pension projections dwindling, investing in bricks and mortar may provide a longer-term solution for your retirement. Alternatively, the savvy parent might purchase a multi-let property student share house providing an income and housing solution whilst their child is at university.

There are lots of reasons why our customers go down the buy to let route, and with increasing regulation, tightening criteria and changes in taxation on landlords it makes sense to get professional advice on Buy to let mortgages.

 

Whether you are buying your first Buy to Let Property, or need advice in how to expand your property portfolio, we will take the time to help you build your business plan and make sure we find you the suitable mortgage for your circumstances.

Let to Buy

Sometimes known as the 'Accidental Landlord', a new category has emerged for buy to let mortgages. These are called ‘Consumer Buy to lets’. In simple terms, this is when you or a close family member has lived or is going to live in the property you intend to let.

 

The accidental landlord is the perfect example of a Consumer buy to let. Rather than selling your home, this situation arises when you let out the property you are currently living in. Maybe it’s the wrong time to sell, or you see this as the perfect way to invest in your future. However specialist mortgage advice is needed. Careful consideration needs to be taken on the potential rental income. Not only does this influence the amount you can borrow on a buy to let basis, but also has greater personal taxation consequences than ever before. DJB Mortgages will make sure you gain the correct advice and mortgages for your circumstances.

House of multiple occupants

A House of multiple occupants can be classed in many different ways, as each local council can interpret the guidelines set out by the Government, however, this is what the Government sets out; 

Your home is a house in multiple occupation (HMO) if both of the following apply:

  • at least 3 tenants live there, forming more than 1 household

  • you share toilet, bathroom or kitchen facilities with other tenants

Your home is a large HMO if both of the following apply:

  • at least 5 tenants live there, forming more than 1 household

  • you share toilet, bathroom or kitchen facilities with other tenants

A household is either a single person or members of the same family who live together. 

A family includes people who are:

  • married or living together - including people in same-sex relationships

  • relatives or half-relatives, for example, grandparents, aunts, uncles, siblings

  • step-parents and step-children

However, lenders will also set out criteria, and this will judge if you need to use a mortgage specifically designed for this specialist area based.

DJB Mortgages will be able to guide you through the maze that this may seem, but with our knowledge, expertise and contacts within the HMO sector, you can rest assured that you are in safe hands to maximise your investment returns.

Portfolio landlord

At DJB Mortgages we specialise in Portfolio landlords. Under new regulations brought in 'landlords' that owned 4 or more Buy to Let properties with mortgages on became known as a Portfolio landlord. With this regulation being brought in some mainstream (High Street) lenders decided that they didn't want to provide mortgages for portfolio landlords due to the extra diligence they have to go through.

Due to this reason, you may feel that the market is restricted ut DJB Mortgages understands the portfolio market and depending on your personal circumstances, may be able to refer you to our sister company DJB Commercial as they are able to structure Buy to Let deals in many different ways.

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR PROPERTY.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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COMMERCIAL MORTGAGES, SOME BUY TO LET MORTGAGES AND BRIDGING LOANS ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

THE INFORMATION ON THIS WEBSITE IS FOR USE OF RESIDENTS OF THE UNITED KINGDOM ONLY.  NO REPRESENTATIONS ARE MADE AS WHETHER THE INFORMATION IS APPLICABLE OR AVAILABLE IN ANY OTHER COUNTRY WHICH MAY HAVE ACCESS TO IT.

DJB Mortgages is a trading name of Just Mortgages Direct Ltd which is an appointed representative of Openwork Limited which is authorised and regulated by the Financial Conduct Authority

Just Mortgages Direct Limited Registered Office: Colwyn House, Sheepen Place, Colchester, Essex, C03 3LD. Registered in England No. 2412345