posh10

Hi everyone,

we r currently trying to sort out renting our house out in uk but the mortgages for buy to let seem to be very expensive. any suggestions on how to get the best deals or any ideas of the best mortgage lenders .

much appreciated.

obstacles seem to be coming from everywhere !!!!!!


Diane

LisaD_uk

If you are remorgaging your house i'm sorry I don't really know anything about that. We went to our current lender and told them what we wanted to do and they just changed our mortgage to a by to let for a fee of £150, its not changed the price that we pay at all so unless you need to remortgage give your current lender a call, HTH

brissydeb

Hi Diane

A way round this is to tell your mortgage lender that you are going travelling for a few years and ask them for a right to let out your property which will save you money on arrangement fees and also keep the payments as they are at present instead of increased payments due to buy to let mortgages generally being at a higher interest rate. Hope this helps!

Debbie

posh10

cheers for those, rang our dealer they said extra 1% but will try the traveling dea. got a advisor coming tomo.

isgraham

I wouldnt worry about the interest rate unless it will take your mortgage repayment over the rental income as the interest portion of the mortgage is tax deductable as are arrangement fees and management fees etc.