There has always been a portion of entrepreneurial and enterprising individuals who get into the rental of residential property as an investment opportunity. The idea of being a landlord doesn’t scare them away with the responsibility that comes with that title, and the lure of making income while only maintaining property for others to live in has a definite draw – especially as it usually doesn’t require the landlord to leave a current check-paying job. The extra income is welcome and can certainly lead to more with proper management and budgeting.
The issue of getting started in this revenue-generation is usually getting the capital to buy the property that is going to be for let or rent. Now, however, many lenders are coming around to the idea of providing secured loans for buy-to-let property. This means that the individual who is purchasing the buy-to-let property can essentially mortgage it with something to put up for collateral, and then use at least some of the rental fees to pay the loan. This type of Secured loans buy to let property arrangement has become popular for both lenders as well as borrowers.
With Affordable Home Loans as the lender, buyers are able to use the current buy to let property as the security against the money loaned and they don’t have to change the mortgage arrangements they already have in place. This is a very convenient device to get the needed financing while maintaining status quo for paperwork and red tape reduction. Affordable Home Loans is a Secured loan broker that offers these attractive buy to let remortgages at very good rates and generous re-payment schedules.
Of course, buyers or landlords who go to Affordable Home Loans for financing don’t have to use the buy to let property as security on the loan – it can actually be anything of value that is at least 25-35% greater than the amount of the loan being requested. That could be other land or home property, a boat or some other high-value security that, if necessary in the case of default, the lender could take possession of and dispose of to cover the shortage they would suffer from the default.
Whether you are new to the investment property industry or you have been a long-time investor and manager, these newer secured buy to let loans and mortgages are a gift that can have profound and positive impacts. Going with Affordable Home Loans means that you will have access to a group of lenders offering best rates and payment plans, and working through Affordable with their experienced team of mortgage experts to help you figure out the best path to take in getting your financing worked out.
The very best part? You don’t have to have perfect credit to be able to qualify for these secured buy to let loans as the security protects the lender in case of default. That lessens their risk and offers greater opportunities to those who may be using investment property acquisition and buy to let ownership help them out of their own financial hardship. Call Affordable Home Loans for more information on your buy to let secured loan.