Croft Mortgage Sevices deal with buy-to-let clients of all types from first time investors to portfolio landlords. With experienced advisors, a panel of lenders which represents whole of market access to thousands of Buy to Let mortgages, we believe, exceptional knowledge of buy-to-let mortgages, we are able to recommend products, which are carefully designed to match your unique requirements.
Before recommending a buy-to-let mortgage product, we examine a number of important factors relating to your current and predicted future needs. We include in our assessment information such as the value of the property, the deposit amount, your earnings and the likely rental return. Armed with this and other important details we can make sure you get a suitable mortgage for both the short and the long term.
Buy to Let is not regulated by the Financial Services Authority.
Landlords offering property for rent will be legally required to provide prospective clients with an EPC. Properties cannot be marketed until an EPC is obtained. Failure to comply with this will result in a fine of £200.
The EPC will indicate how energy efficient properties are based on a scale of A-G. This is very similar to how fridges etc are measured (A) being the most efficient and G being quite poor. Although it won't be mandatory for changes to be made to the property, a list of recommendations will be made to improve energy efficiency. Once an EPC is complete it will last for 10 years.
England and Wales will be implemented first on the 1st October 2008, followed by Northern Ireland on the 30th December 2008 and then Scotland on the 4th January 2009. For people who wish to sell their house an EPC was required from the 30th June 2008.
On the 7th April 2008 the government introduced changes to housing benefit for those on low incomes, renting property or a private room from a private landlord.
Local Housing Allowance(LHA) is now the new way of calculating Housing Benefit and is based on the area where the customer lives, number of occupiers and the household size.
A key change for landlords is to consider that payments of LHA will now be made directly to the tennant rather than the landlord.
For advice and assistance on Buy-to-let mortgage please contact us.
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