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Multi Unit Buy to Let Mortgage Freehold Block
Using the whole market of commercial and specialist buy to let lenders we will source the best rates on any freehold block of multiple flats for buy to let mortgages – both purchase and remortgage. With this type of investment property a specialist investment it’s important that your adviser is a specialist too. When you call ProBuytoLet your adviser is one of just a few with direct access to Paragon, Aldermore Commercial and Whiteaway Laidlaw Bank – three of the biggest players in the freehold flats buy to let mortgage market as well as the dozens of lenders available across the rest of the UK.
About Our Freehold Block Buy to Let Mortgage Service
- Fast, no obligation quote provided over the phone – no need for an appointment or meeting.
- Experts in mortgages for freehold blocks type of property we will be able to assess your proposition and help you proceed with the right lender
- Whole of market access – no broker is on more direct access panels to top lenders in the Multi Unit Freehold Block market
- Ask your broker about our Multi Award Winning Service!
- Up to 75% LTV Available – More with additional security available
- Bridging finance for conversions and upgrades
The Current Mortgage Market for Freehold Blocks
At present this is seen as a specialist buy to let and commercial proposition. With that said there are a number of lenders prepared to advanced funds on rates very close to regular buy to let properties and much cheaper than the high street banks would be able to advance through their business banking operations. Combining these loans with the excellent yields currently being earned on renting these multi unit freehold blocks demand for the units has significantly increased.
Leave your message via the form to the left and we will contact you as soon as possible during working hours. With access to all the best products and a quick no obligation quotation, there’s nothing to lose in finding out what we can do for you and your portfolio of freehold flats now.
More Information on Multi Unit Freehold Block Buy to Let Mortgages
Types of Buy to Let Products and Choices
The most popular type of mortgage taken on a freehold block of flats is a tracker rate – usually these are offered at more competitive levels at times like this when base rate is very low and offer increased flexibility to the landlord. Landlords do need to consider the impact of interest rate rises on their portfolio costs but with the properties typically yielding 7% and average loan to value at around 60% most landlords have plenty of scope to absorb the projected changes in rates in the medium term.
Naturally as the choice is restricted it is extremely important that landlords fully understand the full range of options available and that all lenders are available to any advisers that are used. The difference in costings between checking prices with a few highs street banks and comparing those offering and all the specialist buy to let and commercial providers can be thousands of pounds per annum.
Popularity of This Property Type: Multi Unit Freehold Blocks
The shortage of first time buyers on the purchase market translates directly into a large number of potential tenants for small to medium sized units of average quality. These tenants are seeking city locations, or conveniently close to stations and amenities as well as the lifestyle flexibility that renting offers them.
In this market, therefore blocks of flats are performing well and as such have experienced a spike in demand from landlords. This has pushed yields down slightly in some areas but the type of specialist landlord investing in these kind of properties usually has an eye for a suitable and profitable location.