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In addition to offering landlords insurance UK-landlords-insurance.co.uk can also offer buy to let mortgages for UK landlords. UKmortgageNET have access to over 3500 schemes and are able to advise from the whole of the market place.

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Buy to let mortgages were initially designed to let small landlords avoid the inflated interest rates charged by the mainstream banks & building societies. As recently as 1998 building societies were charging up to 2% over their standard variable rates, the equivalent rate would now be 7.85%. Where as we have access to rates as low as 1.99% (with redemption penalties) and 3.89% with no extended tie in.

Another major factor which has helped the buy to let mortgage market expand is the flexible approach taken by a number of lenders, previously affordability was based upon the applicants main income where as now a common method of calculating affordability is to take the rental income, multiply it by 130% and if the mortgage is affordable at the standard variable rate this satisfies the lenders affordability requirements.

One of the major differentials between the standard domestic mortgage and a buy to let mortgage is the maximum loan to value that any lender is prepared to offer. As a broad rule of thumb the maximum LTV for a buy to let is 85%. Where as some lenders are prepared to lend up to 125% of the property value for a domestic mortgage.

When applying for a buy to let mortgage we do not charge any arrangement fee apart from an initial ?50 submission fee, which is refundable on completion. With the exception of this the fees that you will pay are exactly the same as applying directly to the landlord. The only commitment we ask you to make in using this quote facility is that if you decide you like a quote that you make the application through us as we are ultimately remunerated by the lender at no additional cost to yourself.

The benefits of using our buy to let mortage are

• Fixed Rates - The main advantage of fixing your interest rate is certainty of knowing what your repayments will be for a certain amount of time. You may also be able to secure funding at rates which are below variable rate pricing. The downsides are the potential loss of flexibility and increased redemption penalties and or redemption terms.
• Variable Rates - Look for products from lenders who offer a visible pricing structure. Some lenders calculate interest rates at a margin over the Bank of England minimum lending rate (otherwise known as bank base rate). Other lenders will use the London InterBank Offered Rate (otherwise known as LIBOR) as an alternative to the Bank of England Base Rate.
• Capped Rates - By capping your interest rate you are effectively putting a ceiling on your interest rate but without fixing. The main advantage of a capped rate is that your interest rate can fall but not rise above a certain level for a fixed period of time. The disadvantage is that capped rates are often slightly higher than fixed rates.
• Flexible Products - The implications of redemption penalties should always be considered seriously. With a flexible mortgage, many lenders will allow you to make overpayments. This facility can be used to plan the early repayment of a mortgage. Where the level of flexibility extends to re-drawing overpayments you may utilise the facility as a "sinking fund", say for refurbishment or so that payments can be missed in the event of rental income not being generated for a period.
• Minimal Status - Just because you can't prove a high level of income doesn't mean you are a bad credit risk! We have negotiated schemes with lenders who take an open minded and sympathetic approach to such circumstances and are far more prepared to take a view based upon the viability of the property transaction rather than the income position of the applicant.
• Overseas Investors - We have a specialist team of brokers who are constantly updating their knowledge of the criteria of those lenders who will lend to British Ex-Patriots and Foreign Nationals wishing to raise mortgages, for letting purposes against residential property in the UK.