Mortgages, remortgages and finance to suit your needs

Mortgages, remortgages and finance to suit your needs

In today’s world, finding finance is becoming increasingly difficult. Housing Today, The one-stop shop for mortgages and remortgages, could give you access to many loan & mortgage providers and advice to choose the right property loan.

With so many different lenders available, we could help you find loans or mortgages in various circumstances, with cheaper low rates for customers with a clean credit history, through specialised loan plans for people who may have been refused credit in the past. Click here for mortgage advice.

Housing Today wants to help you reduce your monthly outgoings. Perhaps you want to reduce your monthly bills with an insurance comparison service with many of the leading car & home insurance providers. Our staff could also help you switch energy providers to reduce your monthly electric, gas & phone bills.

In addition to helping you save money, Housing Today could advise you on how to maximise your savings.

Deciding between buying to let and buying to live

Buy-to-let properties can be a great investment, but you must know what you’re doing. Typically buy-to-let mortgages are more expensive, with bigger repayments. However, it is illegal if you have purchased a home with a regular residential mortgage intending to rent it out.

You might think getting a residential mortgage makes more financial sense as it’s cheaper than buy-to-let mortgages, but you should know that you’ll be breaking the law and committing mortgage fraud.

So, in short, if you plan to rent out a property on sites like Airbnb and Booking.com, you’ll need a buy-to-let mortgage, which can be on top of the residential mortgage you are already liable for if you currently own your home. Learn more about this topic.

Airbnb management company in London, HelloGuest commented:

Whilst holiday lets and buy-to-lets can be a considerable investment, it’s important for borrowers to be aware that mortgage lenders can restrict the period of time through the year that you can let your property on Airbnb. For example, some lenders will onlly allow for this type of letting for three months, whereas some will allow up to six months. Therefore, it’s imperative to understand the deal you’re making when borrowing for a Buy-to-Let property, so you can maximise your income and make the most out of Airbnb.

How to finance your project

Once you have correctly counted all project costs, you can assess how profitable your project could be. Your lender may require this information.

Housing Today recommends a private lender over a bank as the approval and transfer of money is much faster, meaning you can begin your project sooner rather than later. Several companies specialise in development finance loans if you’re considering building something from the ground up or renovating. Compare loans here.

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