MyLondonHome’s position in the London property market has allowed us to develop relationships with many established and specialist mortgage advisers. We work closely with a number of mortgage brokers, all of whom are capable and willing to assess your circumstances and ensure you receive the best mortgage available.
Acquiring a mortgage can be a very personal experience and it is important to work with someone you trust. As such, if you would like to be contacted then please complete an enquiry form and someone will be in touch. If you would prefer to speak to someone over the phone, call us on 020 7222 2500 and we would be more than happy to help.
There are a variety of different mortgages available when buying purchasing a property, some of which are detailed below:
Buy to let mortgage details
Buy to Let mortgages repayment terms can vary between 5 and 40 years. It’s important to know that both the type of property and the type of tenant can affect the borrowing conditions of the mortgages. First time buyers are eligible for residential mortgages although there are greater restrictions in place whilst Limited Companies are also eligible for Buy To Let mortgages. Buy to Let mortgages are often calculated using the anticipated achievable monthly rent against the interest only mortgage repayment.
Help to buy mortgage details
Help to buy Equity Loans:
Launched in Spring 2013, this phase of the scheme assists first-time buyers to purchase new-build property. In this instance, buyers would receive a Government loan of up to 20% of the purchase price for the property, up to the value of £600,000. This scheme allows first-time buyers to contribute as little as a 5% deposit and a mortgage is required for the remainder. Undertaking this scheme forbids the buyer from renting out the property.
Help to buy mortgage guarantee:
Autumn 2013 saw the arrival of part two of the scheme, the Help to Buy Mortgage Guarantee. This differed slightly from Help to Buy Equity Loans in that it is open to home-movers as well as first time buyers and more importantly, includes resale properties. The scheme again only applies to properties under £600,000 and cannot be rented out.
Whether you are a first time investor or you are looking to expand an existing London portfolio, our team of trained property professionals can help find the perfect mortgage for you. Simply complete the below Mortgage Enquiry Form or call us on 020 7222 2500.