Buy-to-let mortgage guide: How much you can borrow?

Daniel LeesMortgagesLeave a Comment

If you intend to let out your former home long-term — or if you’re buying a buy-to-let property — you’ll need to get a buy-to-let mortgage. Coined as a world first by Britain in 1996, these loans are based on what your property would let for, instead of – as for residential mortgages – what you earn. Fees can be … Read More

Why you can’t let your home on a residential mortgage

Daniel LeesMortgagesLeave a Comment

You might think that, as long as you pay your residential mortgage, your lender won’t notice or care if you start letting out your home, right? Wrong. Strictly speaking, you would be committing mortgage fraud. Though less serious than taking out a mortgage under false pretences, this would still breach the contract that you signed with your lender, in which … Read More

Think your lender won’t care if you let out your home? Think again

Martina LeesMortgages, Property marketLeave a Comment

After two collapsed chains, 14 months in limbo, £2,000 in lost fees and one rogue sighting of Japanese knotweed, friends in west London were on tenterhooks last week as they finalised the sale of their three-bedroom home. Would this be third time lucky? Alas, one piece of paper was missing down the chain. “It’s really stressful,” says the mother of … Read More