Portman
Building Society Buy-To-Let Mortgages
Portman Building Society Buy-To-Let Mortgage
Please
Note: The Portman Building Society are now a part of
Nationwide.
Portman
Building Society's range of Buy to Let mortgages are provided
by Sun Bank. Sun Bank is the specialist mortgage lender of
the Portman Group and has become renowned for its expertise
within the Buy to Let market.
The
range of Buy to Let mortgages are available to those who want
to buy, or remortgage a house or flat with the intention to
rent it out.
There
are many ways in which you can invest your money, one of which
is through buying to let. The main motivation for buying to
let is usually for investment reasons. There may be other
influences however, such as buying a property for your child
to live in whilst at university.
There
are many benefits of buying to let, but you should consider
all the factors of becoming a landlord before taking the plunge.
Some
of the points to consider are detailed below. It is also important
to read the leaflet “Buying to Let” produced by
the Council Of Mortgage Lenders (CML). If you have not got
a copy of this, one can be obtained from the Council of Mortgage
Lenders at www.cml.org.uk.
How
much can you borrow?
The
maximum loan from from Portman Building Society is £3
million per borrower and £600,000 per property. The
maximum individual property value is £1,000,000. The
minimum loan is £25,001.
With
a normal mortgage the maximum amount you can borrow is based
on your income. With a buy to let mortgage the amount you
can borrow is calculated differently.
Conventional
income multiples are not used. Each borrower type is assessed
in its own way.
For
further information on a Portman Building Society Buy-To-Let
Mortgage visit the Portman Building Society Website.
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