We source competitive whole of market buy to let mortgages for landlords renting their property out to family members (family lets). Not all lenders will consider these types of buy to let mortgage but as a specialist broker we will find you the best rates and advice.
About Our Family Let Service
- Whole of market access ensures you get the best rates
- Quick, easy access to information – simply fill in our short form now.
- An experienced advisor working exclusively in the buy to let market will discuss your case with you.
- Some family let mortgages are not available on the high street.
- No obligation
Family lets can have many added complications from choice of product and lender down to different tenancy agreements you may have in place. Our expert advisers only work with buy to let landlords and will fully understand your needs. Fill in our short enquiry form below for a quick quote or to find out more about your options.
Why Family Lets Are Different
Family lets are covered under the Mortgage Code of Business rules which simply means they are regulated by the Financial Services Authority. As the borrower this offers you extra protection but it does restrict the lenders. Because of this not all buy to let mortgage lenders are prepared to offer family lets. Many competitive deals are still available though.
What Are The Advantages And Uses Of Family Lets?
Buy to let mortgages for family member occupation are becoming more popular both as useful tools in more complex family financial planning and more simply as a means to keep a much loved property within the family in a cost effective structure.
For example a father may wish his daughter to one day take on the old family home but at present she is training as an accountant and cannot take it on. He can’t afford to let her live there for free (often because his lender will not allow him two residential properties due to his income. For this reason he may also be unsuitable as a guarantor). Knowing that his daughter is a successful professional in the making who will prove a reliable tenant he can obtain a family let buy to let mortgage and one day sell the property to her in full.
Naturally this is just one of hundreds of possible examples but it serves to illustrate well the flexibility this approach offers.