Buy to let mortgages
01603 428 500
info@themoneycentre.net

The Buy to Let Mortgage Process

If you would like to get an instant indication of the best buy to let mortgage products in the market simply place the details of the purchase into The Money Centre's free to use buy to let mortgage calculator which is available online 24/7.

One of our recommended suppliers will then contact you, usually the same working day or within 24 hours of your enquiry.

When you apply for a buy to let mortgage the information that you provide to the lender, via your broker, will be processed electronically to confirm your identity and to check your credit history. Providing your application meets the lenders criteria a valuation will be instructed and simultaneously, references may also be requested, for example and Employer's reference, Accountants reference, existing lenders reference etc..

Once all of the required information has been received by the lender and checked by an underwriter a mortgage offer will usually be issued and this is usually required by your solicitor before they will proceed to exchange of contracts.

Once contracts are exchanged, the property is contractually yours. You must, therefore, insure the property at this point. We are able to provide quotations through our recommended supplier of landlords insurance. You must advise our broker if the property is likely to be vacant for a longer period of time or is about to undergo refurbishment.

Once completion has taken place you can let the property subject of course to its condition. If the property is vacant at the point of exchange of contracts, it is in your interests to negotiate a longer period between exchange of contracts and completion, together with negotiating access to the property so that you can decorate it. The vendor does, however, have the right to refuse this.

Monitor the property value so that you can capitalise on opportunities and keep in touch with The Money Centre to release further money through ##remortgaging (buy to let remortgage)## or further advances, in order to fund deposits on more properties.

If you have any questions please do not hesitate to contact us 9-5 Monday to Friday: 01603 428500

*Your request for contact will typically be followed up the same day during office hours.

For further information please see our Privacy Policy. We appreciate that value for money and commercial considerations are vital to all businesses. You are under no obligation whatsoever to utilise any of the products, services or suppliers that we recommend.