Your home may be repossessed if you do not keep up repayments on your mortgage.
*Subject to application, status and lending criteria. The maximum loan, rate and loan-to-value ratio offered may vary based on your individual circumstances. You may be offered a higher rate.
For example: A mortgage of £123,000 payable over 19 years and six months, initially on a fixed rate for 5 years at 7.50% and then on a tracker at 2.14% above the Together Homeowner Managed Rate currently 8.75% (variable) for the remaining 14 years and six months would require 60 instalments of £1,037.08 followed by 234 monthly payments of £1,257.72 plus a redemption administration fee of £100.00. Read more information on THMR.
The total amount payable would be £281,168.08 made up of the loan amount (£123,000.00) plus fees (arrangement fee (£3,000), broker fee (£1,318) and redemption administration fee (£100), plus interest (£153,750.08).The overall cost for comparison is 10.0% APRC representative.
The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.
If you've inherited a property, no longer need your business premises or need to relocate, you may be considering renting out your property instead of selling it. You are not alone as hundreds of property owners become accidental landlords every year.
Our Consumer Buy to Let mortgages are designed to help, with no previous landlord experience required and no upper age limit placed on applicants. Your affordability will be based on the rental income that your property will bring in and not your personal income. We can also consider applications from British expatriates.
Renting out your property could prove lucrative, so we understand why becoming an accidental landlord is sometimes an appealing option. This could mean you need to remortgage before renting out your property – perhaps because your existing mortgage provider doesn't do Consumer Buy to Let mortgages, or maybe because you need to complete renovations.
So, if you’re thinking about renting out your personal property to provide a second income, or boosting your pension pot, we may be able to help with a Consumer Buy to Let mortgage.
Our common-sense approach means we can also consider applications that some other lenders can’t, such as if you already have a mortgage on the property, you're self-employed, work several jobs, have already retired or if you’ve got less-than-perfect credit history.
Do you want to understand the potential cost of your mortgage or loan?
We can give you an idea of the monthly costs with just a few details like the property value, your deposit amount and how long you need the loan to last.
Find out here
An accidental landlord is someone who becomes a landlord by circumstance rather than by plan, and it can happen for several reasons. You could be relocating for work, moving in with your partner, or you might have inherited a property.
With Together you will need to amend your current agreement or obtain consent prior to letting out your home. Other lenders may allow a consent to let rather than changing to a BTL mortgage.
At Together there is no maximum age restriction for consumer buy-to-let (CBTL) applicants where rental income meets or exceeds the required interest coverage ratio.
If you live abroad, we can consider you for a CBTL mortgage if you are an expatriate and your situation falls under the following circumstances:
We’ll need a copy of the tenancy agreement (if the property is already being rented out) or a rental assessment (if it’s not being rented out yet) along with recent proof of personal income.
This could be a recent payslip or P60 if you're employed or a recent SA302 if you're self-employed.
At Together, our minimum repayment term for a Consumer Buy to Let mortgage is 6 years, and our maximum repayment term is 30 years. This means that you’ve got the flexibility to choose a repayment length that works for your situation and affordability.
Not with a consumer buy to let mortgage, you can use a residential mortgage though but your personal employed income would be used for affordability rather than rental income with Together.
