BTL Mortgage tip - Buy to Sell Strategy

TIP OF THE WEEK 1: Buy To Sell Strategy.

Using buy to let mortgages for properties that you may want to sell on within a couple of years has become increasingly expensive with the lack of suitable mortgage products. Most deals have big arrangement fees and big exit fees that cut into the profit so; here are a couple of options which are proving quite popular:

Get a residential offset mortgage, use your offset funds to draw down the money first, and buy the property for cash. Once sold, put your money back into your drawdown mortgage and you are good to go again. No ongoing arrangement fees, no exit fees and being a cash buyer you can expect to beat down that purchase price. So that's a triple win.

Use a buy to let mortgage with no early redemption charges. For example 6.54% variable with £1495 arrangement fee and no early redemption charge. But I prefer the first option if you can arrange it, if you have a low (or no) mortgage this really is a no-brainer if you plan to sell from the off.

Ring 01424 205 373 or email to find out more on these products or to discuss other options.
ref - PropertyHawk for No Broker Fee Offer.