Low Rental Coverage Mortgages.
Why use us?
We will be in touch to seek further information about your case and discuss options available to you.
Experienced administrators work with you to provide the lender with all the details required to obtain a mortgage offer.
The Process For Your Mortgage.
3 Simple Steps.
How it works and what you need to know:
How much can be borrowed?
If the property has a rental income of £1000 per month, the calculator will produce a loan of between £175,0000 and £275,000, dependant upon the length of fixed rate. Many choose a 5 year rate to maximise borrowing. The other significant factor is the amount of borrowing as a percentage of the property value. Whilst 80% of the property value is available, 75% provides a better rates. The less you borrow, the lower the rate.
Rental cover calculations
These vary from lender to lender and expert advice is needed to evaluate the options lender look at borrowers tax band and available income to service the mortgage. They also consider the product requested and the loan as a percentage of the property value. Specialist knowledge and computer systems are helpful in negating these calculations.