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Buy to Let Mortgage Advice in Sheffield

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We have 1000’s of Competitive Buy to Let Deals Available

Whether you’re looking to expand your existing buy to let portfolio or begin your first buy to let mortgage journey, we are here to help you through the whole process.

 

Our specialist buy to let mortgage advisors in Sheffield can help you through your buy to let purchase or remortgage, we’re experienced in both areas.

 

We’ve been helping landlords achieve their buy to let dreams for over 20 years now, let us help you next!

 

How much deposit do I need?

In order to get a mortgage on a buy to let property, it’s likely that you’ll be asked to provide a deposit between 20%-40% of the property’s price.

 

You will also need to provide sufficient evidence that you’ll be able to afford another mortgage. This will be through documents, credit checks and affordability assessments.

How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Fast & Friendly Buy to Let Mortgage Advice in Sheffield

We’ve come across many different buy to let mortgage scenarios as a mortgage broker in Sheffield.

Remortgage a Buy to Let 

Current landlords who’ve already built up a portfolio of buy to let properties may want to invest in further opportunities. If this is the case, there’s an option to remortgage one of the properties to release equity. This equity can be used to cover the deposit on another buy to let property.

Limited Company Mortgages / Special Purpose Vehicles (SPVs)

Not all lenders will accept an applicant who is applying through these means, however, it’s not impossible to find a lender who will.

 

If you’re looking to grow your buy to let portfolio through a Limited Company or Special Purpose Vehicle (SPV), this is a specialist topic, so we would strongly recommend that you speak with a specialist Mortgage Advisor in Sheffield.

HMO Mortgages

House of multiple occupation mortgages are taken out on properties occupied usually by five or more people. They’re particularly popular amongst landlords who own student accommodation.

 

These types of buy to let products can sometimes be hard to find; not every lender will offer HMO deals. If you’re thinking of applying for a HMO mortgage for your buy to let property, it may be worthwhile speaking to a specialist mortgage advisor in Sheffield.

Buy to Let Mortgages

We understand that there are lots of different buy to let mortgage scenarios. For example, you may be a first time buyer and are planning to invest in buy to let or you may have a complicated mortgage situation that requires help from an expert. If you need a second opinion on anything ‘buy to let’, feel free to get in touch with our expert team today.

 

How can we help you secure your Buy to Let mortgage?

  1. We have been working in the buy to let mortgage industry for over 20 years now, we know exactly what we’re dealing with.
  2. Our advisors have access to 1000s of buy to let mortgage products and competitive rates.
  3. Our buy to let mortgage advisors have dealt with all different types of buy to let products.

 

Feel free to check out our brilliant customer reviews to find out more about our service. You may find that someone has been in similar or the same situation as you before!

 

What our customers say

Common mortgage
questions

The minimum deposit for a Buy to Let mortgage is usually 25% of the property value. However, this can vary between 20%-40%. If have any further questions regarding you Buy to Let mortgage deposit, speak to one of our Buy to Let Mortgage Advisors in Sheffield today.

Your free mortgage consultation with a Mortgage Advisor in Sheffield will last approximately an hour. Once they have evaluated your situation, they will recommend a mortgage for you with no obligation for you to proceed. Based on the deal, you can decide whether or not you want to continue the process with us or not.

As a trusted Mortgage Broker in Sheffield, we carry out a fact find to verify your needs before recommending you with a mortgage deal. After a Mortgage Advisor in Sheffield has evaluated your situation, they will perform a credit check on you, this is required for an agreement in principle. Then after you have provided all of the relevant documentation and a valuation of the property has been carried out, a formal mortgage offer can be issued.

We always advise that you obtain an agreement in principle before you start viewing properties in Sheffield, to avoid disappointment. If you want to get yourselves a head start, you should get one prior to making an offer.

Typically, an agreement in principle lasts for between 30 and 90 days, however, this can change depending on your lender in Sheffield. If your agreement in principle expires, you can renew it quite easily.

Yes, you can get a second mortgage. Whether this is for debt consolidation or home improvements, this is possible. It is also possible to take out a second mortgage on a second property but only if it is own use, the use of a family member, a holiday home or a Buy to Let.

It will be harder but yes you can. You will have to show that you can afford a mortgage by putting down a higher deposit, perhaps 10% or 15% of the purchase price.

Yes, however, you must submit at least one years’ accounts. Most lenders use your salary + dividend to calculate the maximum mortgage, whereas other lenders in Sheffield could base it of your net profit.

If you are an employee, you will need to provide three payslips to prove your income. If you are Self Employed in Sheffield, you will have to prove for the latest 2 years’ accounts. Along with this, you must produce proof of ID, address and 3 months’ bank statements.

Our free mortgage consultation in Sheffield will take about an hour. Once your consultation is completed, we can arrange an agreement in principle for you within 24 hours. A formal offer takes up to three weeks on average.

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We make it so easy!
Our 4 step process

Step 1

A telephone call where we can take some initial details and find out about your plan of action.

Step 2

Enjoy finding a property!

Step 3

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Step 4

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

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UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
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