Can I change my mortgage to buy to let?
Yes, it is possible to change your mortgage to a buy to let.
There are two ways that this can be achieved:
- Ask your existing lender for a ‘consent to let‘ – Essentially this means asking the lender for permission to rent out your property. They may refuse or they may agree but impose a higher interest rate.
- Remortgage to a buy to let mortgage – This is quite common and straightforward but the potential loan will be calculated from the rental income the property can generate.
HOW CAN WE HELP?
Choosing a mortgage is an important financial decision and it’s easier with someone who’s on your side. We work as a whole of market mortgage broker so that you get the best possible choice of mortgages.
DRAKE MORTGAGES ARE EXPERT BUY TO LET MORTGAGE BROKERS
We are experienced whole of market brokers who can help you get a great holiday let mortgage.
We can also give you access to exclusive schemes and some specialist lenders who don’t deal direct with borrowers. Loans are available to individuals and SPV’s upto 75% and we can help with Scottish properties, mixed use, multi-lets and Airbnb.
Bridging loans are one of the most useful, multi-purpose, types of lending solutions available. You can get a bridging loan approved on almost any property for almost any reason. Great for auction purchases or snapping up a buy to let bargain.
And we can arrange them really fast.