Key time for BTL mortgage purchases

Key time for BTL mortgage purchases

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Video transcript

If you`re considering entering the buy-to-let market as a new property investor or want to expand your portfolio, now could be the time after it emerged that house price growth slowed during January.

Winter is traditionally the time when sales die down, generally down to seasonal factors like weather and families focusing on festive celebrations, but it could pay to take advantage of the slowdown at this time of year as prices look set to shoot up later in the year.

Hometrack figures indicate that prices rose by 0.3 per cent last month, while the Paragon Group has shown that the fourth quarter of 2013 saw 207 per cent growth in the buy-to-let loans market, emphasising that the colder months may be ideal for landlords and those who aspire to become them.

However, Hometrack reckons that positive news about the UK economy and the availability of jobs will help to support market sentiment in coming months, which could result in fewer bargains for people thinking about getting buy-to-let-mortgages. That`s likely to be magnified if supply continues to fall when compared to demand.

So if you want to be a landlord, or expand your current offering, you need to act quickly before your potential purchases get too pricey. That`s why you need to contact First Choice Finance as our skilled team will scour our lenders on your behalf to try and match you up with the most suitable mortgage for your circumstances.

We`ll even offer any deal on a no-obligation basis, so that if you don`t like what we find, you won`t have to pay for it. Discover more at firstchoicefinance.co.uk or call us from your mobile, it`s 0333 003 1505 and from a landline, it`s 0800 298 3000.

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Homeowner Secured Loans
9.8% APRC. Representative example: Borrow £50,000 over 180 months. 60 months at 8.1%, £497.83 pcm fixed at 60% LTV. Then 120 months at 10.1%, £539.89 pcm variable. Total payable £94,656.60. Total cost of credit £44,656.60 (including: £795 lender fee, £985 broker fee & £42,876.60 interest). First Choice are tied to certain loan providers.

Mortgages & Remortgages
8.4% APRC.
Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)


Unsecured Personal Loans
REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Security is required on immovable property.



Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.

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