Buy to Let Mortgage Advice
Investing in property can be a lucrative way to build wealth, but finding the right buy-to-let mortgage is key to maximising your rental yield and ensuring long-term profitability. Evolve Financial Services can provide support on Buy to Let mortgages whether you are buying your first rental property or are a seasoned Landlord. We help Landlords who have portfolios of properties as well as providing advice on Limited company purchases of property. We ensure that you know and understand the differences between buy to let and residential mortgages, such as; purpose of ownership, rental income requirements, loan to value differences and lender criteria and conditions as well as whether interest-only or repayment mortgage is most appropriate for your circumstances. We then support you through the application and administration process. With our help, you can build a sustainable investment portfolio while ensuring your rental properties remain financially viable.
First-time Landlord
The process begins with us explaining how a buy to let mortgage differs from a residential mortgage, guiding you through the required lender qualifications and criteria, such as deposit requirements (typically 25% or greater) and property tax considerations. We can provide guidance on property types and rental options advising on lender restrictions that may be a consideration when looking for a property. We also cover rental income requirements as lenders ‘stress-test’ this at varying rates dependent on your income / tax position, rather than just based on your own income – this is done to ensure that if there are rent voids, the mortgage can still be paid. Once that is done, we source the best rates and package the application to ensure the lender has all they require to process your application.
Portfolio Landlords
If you are an experienced landlord, with multiple properties, you can still benefit from mortgage advice. Our experience and expertise allows us to quickly assess the options open to you, ensuring that we place cases with lenders who accept the number of properties you have and in the ownership structure you hold them. We review with you whether the options around how the properties are owned should be reviewed or changed and look at strategies for this both now and for the future. Where beneficial we will direct you to seek accountancy advice to review your tax position to ensure that the income is earned in the most tax-efficient manner. We also carry out periodic reviews and work with you to meet your objectives, whether that is to pay off the mortgage(s) or maximise the borrowing from the equity held across the portfolio.
Limited Company Landlords
There are times when it is appropriate and advantageous, for taxation and ownership structure purposes, for property to be purchased by a Limited Company SPV (Special Purpose Vehicle), rather than an individual or individuals. At Evolve Financial Services we have great knowledge in this area and can advise you on how to do this. We consult with you on the structure and advise on SIC (Standard Industry Classification) codes to ensure the SPV meets the requirements of a chosen lender. We can access and package deals with specialist lenders, only accessible via brokers. Where appropriate we can even liaise with your accountant to ensure that we have all the relevant and requested information and documentation to substantiate the application.
Rental property Mortgage Advice
At Evolve, our aim is to understand your property investment motivation and objectives and work to tailor a solution that caters to that. We look at whether you want achieve immediate income or build equity over a period of time and structure the mortgage recommendation accordingly. As a number of our advisers are also Landlords, we draw on that experience and expertise to ensure you receive thought-through, trustworthy advice to help you on the road to owning and managing rental property.
Trusted Financial Advisors for over 30 years
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