CharltonOnLine.com
Help Line 0845-108-0505
Buy-to-Let Mortgages
People have been investing in Buy to Let properties for many years but the explosion has happened in recent times, spurred on by the apparent unstoppable rise in property values and peoples perception that this might take the place of their pension funding. Easy access to money enabled people to purchase property on 90% interest only mortgages, using only the perceived rental value of the property as the means of securing funds. Generally, Landlords used the rental income to fund the purchase, relying mainly on the rise in the value of the property, over time, to provide their main profit. For many, it worked well but times have now changed and the driving factors that applied before, are no longer.
.
.
Please turn to the next page for further information.
Life Insurance
Discounted UK Property
General Insurance
Bridging Finance
Overseas Property
Commercial Mortgages
Overseas Mortgages
UK residential mortgages
Well, depending on who you listen to, you will get differing opinions. However, what is accepted is that property prices had reached unsustainable levels and had to fall. That process has now been underway for about a year and until the government and the banks find a solution to making funding available, this downward trend in property could continue for some time. Estimates vary but most fall into the range between 20% to 50% from their peak. General opinion is that when property prices eventually reach bottom, their rise will be slow and over a fairly long time. There is nothing to indicate that property prices will bounce back quickly.
As of the time of writing, January 2009, many people who took out buy to let mortgages in recent years are now in financial difficulty as their low initial fixed rates have come to an end and they are having to pay the lenders higher variable rates against a background of falling property values. Many are trapped in this situation as to remortgage, they would now only obtain a loan of up to 75% of the property value, leaving many unable to make up the difference.
Will writing service
Past Considerations
Changing Times for Mortgages
What is in store for property
Things to consider
Continued
None of the information on this website is intended to promote any specific mortgage product or provide mortgage advice.
CharltonOnLine.com is a trading name of Charlton Marketing and Development Ltd.
CharltonOnLine.com is a trading name of Charlton Marketing and Development Ltd.
Your home may be re-possessed if you do not keep up repayments on your mortgage.
Charlton HomeBuy
Service
Email: charltonltd@charltonfs.com