The buy to let mortgage is also known as an investment mortgage and is aimed at borrowers who plan to let out their property to a third party. You may be a seasoned landlord or new to the buy to let market, either way Limetree Financial Services in Cambridge are here to help you get the best deal available.

Purchasing a buy to let property has become more and more popular. Despite a fluctuating property market, buy to let is still seen as a strong investment opportunity for the future. It may be a step towards being a full time landlord or it may be a way of securing finance for your retirement.

Our Cambridge team of advisors have over 75 years’ industry experience and have the knowledge to find the best deals available on the market. There are many competitive buy to let mortgages and our independent advisors have access to offers that are not available on the high street or online. Regardless of whether you are an experienced investor or becoming a landlord for the first time, we can help you every step of the way.

Our impartial advice means that we have not committed to working with particular lenders so we can look at the whole mortgage market place and seek out the most suitable deals for you. We speak in a language that you will understand so don’t worry about getting confused by industry jargon and our team are so friendly you will never feel uncomfortable asking even the most basic questions. We are here to help and your success is our success.

From advice on deposits, rental income and investment potential we have the knowledge to offer you guidance so you have a clear understanding of buy to let mortgages and whether this type of investment is the right one for you. Our team of advisors also understand that the whole process of buying a property is a stressful one so they will go out of their way to ensure your experience is as smooth as possible.

We don’t work 9-5 and therefore can fit around your schedule. We know how busy life is so if there’s a way to make it easier for our clients then we do it. You will also have peace of mind as we are regulated by the Financial Conduct Authority ensuring honesty and integrity in everything we do.

We offer a bespoke and personal service, we treat every client as an individual and it’s crucial to our company ethos to ensure good communication and an open and transparent service that’s perfect for you.

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New Landlords: 10 Costs To Consider.

Are you thinking of becoming a landlord in Cambridge?  If you’re new to the buy-to-let market and property investment read on for our financial advice to make sure you aren’t caught on the hop.  You should always keep a reserve of money for…

  1. Repairs: If something goes wrong or breaks, in some cases it’s up to you to pay for the repairs. e.g. costs for a plumber to fix a leak, or to replace a broken appliance. Do keep all receipts for repairs you’ve paid for, as these could be tax deductible.
  2. Mortgage repayments: If you don’t own your property outright, you’ll still need to pay your mortgage even if you aren’t getting rental income.
  3. Bringing your property up to standard: You’ll need to spend a bit of money to make sure it’s up to code. Includes fire safety precautions, electrical upgrades & more. There are extra compliances to consider if it’s going to be a ‘House in Multiple Occupation’. Legislation does change so you have to keep abreast of laws pertaining to rental properties.
  4. Refurbishment costs: e.g. painting and decorating. You may need to refresh the decor between renters.
  5. Agency fees: letting an agency handle your property means you don’t have to be ‘on-call’ for tenants. It also reduces some of the admin work. The typical charge is 10-15% of the rent, another cost to consider.
  6. Furniture: If you’ve decided to rent your property as ‘furnished’, you need to ensure sofas are fire resistant (and have the fire safety label attached). You’ll also need budget to replace furniture that becomes damaged or unsafe as a result of wear and tear.
  7. Insurance: tenants usually take on the responsibility for most monthly bills like gas and electricity but you are responsible for sorting out (and paying for) buildings insurance.
  8. Energy performance certificate: costs between £50 – £100 and is a legal requirement if you’re renting or selling a property. It lasts 10 years, so you don’t need to renew it for every tenancy.
  9. Membership of a Landlord Association: an optional consideration. They charge anywhere from £50 to £184 per year, depending on which one you choose and which level of membership you go for.
  10. Solicitors’ fees: it’s a good idea to get your tenancy agreement looked over by a legal professional to ensure it’s watertight. If you join a landlord association, you’ll may have access to solicitor-approved tenancy agreements.

Our team of advisors have decades of experience sourcing and managing buy-to-let mortgages, we are independent so have access to the entire buy-to-let mortgage market. Whether this is your first or 50th property investment we have the skills and expertise to guide you through your purchase.