We offer access to some of the most competitive rates for investors. There are two types of ways of doing this:
The first option – purchase in your sole name. In general, the deposit requirement is 30% but could be more depending on proposed rental income. The banks will take the rental income into account to cover the mortgage repayment, although they may require the rental income to cover a higher amount of the mortgage repayment i.e., they will want a buffer.
The second option – purchase through a limited company where the rental income would be considered to cover the mortgage repayments. This option is a lot more convoluted and more expensive. The deposit is at least 35%.
In both scenarios, investment interest rates apply. You will also have additional solicitor costs and could have arrangement fees to pay. An interest only facility is available.
Information correct as of 01/01/2023.