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How easy is it to become a First Time Landlord?

More and more of us think of extra income sources and investing in properties might be the right way to boost income or provide yourself with a retirement income or asset.

We often meet customers who are a bit unsure and who think it is very difficult to start.

Although, as with any other business, there are risks related to an investment, let’s focus on the positives and answer some of frequently asked questions!


First of all how big deposit does one need to buy a house to let? Typically, around 25% of purchase price needs to be presented as a deposit. It can be your savings, a gift or it can be capital raised on remortgage from another property, for example your residential home.


Secondly, do I need to earn certain income to get a buy to let mortgage? Yes, some lenders do require that you earn income of ca. £25k annual income however others don’t! There are so many lenders and so many options that you had better speak to a mortgage broker is you want to become a landlord sooner rather than later.


Should I consider interest only or capital repayment type of mortgage? It depends on your investment strategy and long-term plan. Both options are possible but it will have to be well thought through.


The above are just a couple of questions being asked and there is loads more! Although a mortgage broker cannot dictate your investment strategy, we can help you by showing you options and assessing your circumstances. Contact us for more information if you would like to become a landlord/landlady.

GRN Financial Services Limited is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority Our fees and charges vary depending on the Services we provide to you. We typically charge a fee of £350. Some of products and services may not be regulated by the Financial Conduct Authority. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE




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GRN Financial Services

Mortgage broker

15 Bath Street,

Leek

ST163JQ 

REMEMBER! YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

GRN Financial Services Limited act as a credit broker not a lender.

OUR FEES and charges vary depending on the services we provide to you. We typically charge a fee of £350 payable on application.
Some of the products/services shown are not or may not be regulated by the Financial Conduct Authority’.

GRN Financial Services Ltd is a company registered in England and Wales. Registered number: 11200120. Registered office: 15 Bath Street, Leek, Staffordshire, ST13 6JQ. GRN Financial Services Limited is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority The information in this email is sent in confidence for the addressee only and may be legally privileged. Unauthorised recipients must preserve this confidentiality and should please advise the sender immediately of the error in transmission. If you are not the intended recipient, any disclosure, copying, distribution or any action taken in reliance on its content is prohibited and may be unlawful. GRN Financial Services Ltd accepts no responsibility for any loss or damage resulting directly or indirectly from the use of this email or the content.

©2020 GRN Financial Services

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