If you want to buy a property with the specific intention of letting to create income and you need finance to achieve this: a Buy To Let mortgage is what you need.
These mortgages work in the exactly the same way as residential mortgages with lending secured against the property over a set term.
Lending can be undertaken on a capital and interest, interest only or a combination of both. This will maximise rental income by minimising the mortgage costs.
Repayment of the mortgage, if done on an interest only basis, is then achieved by the sale of the rental property at some point in the future.
To find out more about Buy to Let mortgages, please call Riviera Mortgages on 01803 500190
email: [email protected]