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| Buy To Let Mortgages |
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| Investing in property has
boomed in popularity in Northern Ireland in recent years and with
good reason. Returns are attractive compared to the stock market,
and property values continue to rise. |
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| The majority of people who wish to buy a property
to rent out will have a mortgage on their own residence. So most will
not be total novices in the world of mortgages. However there are
some differences between a regular mortgage and a Buy to Let mortgage. |
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| Buy To Let is the initiative devised by the
Association of Residential Letting Agents (ARLA) and supported by
UK mortgage lenders. It was created to stimulate the growth of the
private rented sector by encouraging private investors to take the
opportunities given by low, highly competitive, interest rates and
the reasonable certainty of sustained capital growth over the coming
years. |
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| Until recently, anyone hoping to buy a property
with the sole intention of letting it out was forced to opt for an
expensive commercial mortgage. However, with the continuing boom in
the housing market there are now a variety specialist buy to let mortgages. |
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| Remortgaging your buy-to-let property |
| By remortgaging a buy to let property you are
likely to get a much better deal, especially if you took out your
mortgage before 1996. Prior to this date buy to let mortgages didn't
exist and borrowers had to rely on comparatively expensive commercial
mortgages. Remortgaging also allows you to free up capital that could
be used to put down as a deposit on another property. |
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| Landlords are often put off remortgaging a
property because they think that the ‘hassle' involved outweighs
the benefits. The financial benefits are very real and you'll find
that we go out of our way to make the process as painless as possible.
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