If you are in the market for seeking mortgage advice for a Buy to Let in Doncaster, our expert Mortgage Advisors in Doncaster are here to help. Whether you’re wanting to take the initial leap and become a landlord or are experienced in doing this already, we have a lot of industry knowledge on Buy to Let in Doncaster.
As a Mortgage Broker in Doncaster that works hard to assist our customers, we have helped a variety of different investors in securing them brilliant buy to let mortgage deals. Our dedicated team will look through 1000s of mortgage products, in order to find you the best deal they can for your needs.
If you would like to purchase your new buy to let property through a limited company (known as a Special Purpose Vehicle, or SPV for short), our team of mortgage advisors in Doncaster have a great amount of knowledge on this too, and will be happy to talk through your mortgage options.
If you are looking to compare the taxation benefits, then you will need to get in touch with an experienced tax advisor as they will be able to give you the appropriate advice on this.
Though we typically help with standard residential buy to let in Doncaster, we can actually help with HMOs (House of Multiple Occupancy) and holiday lets too, so if you require some assistance with one of those, do not hesitate to get in touch for your free mortgage appointment.
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The Financial Conduct Authority does not regulate some types of buy to let or commercial mortgages.
4.99 Rating86 Reviews
Dean
Excellent service
Mariola
We used Tom as our mortgage adviser and he was brilliant. Answered all our questions, put us at ease throughout the whole process and even scheduled meetings around our schedule - which was quite busy at the time. The whole team was super helpful...
Samantha
Absolutely fantastic service from Leo and Meghan. Everything was done so quickly after the initial call, and everything was explained clearly. Couldn't have asked for a better service, thank you.
Abbiegail
Thank you so much to Ryan and Lynsey for helping us find the perfect mortgage for my family! Great communication and help throughout the process. Will definitely be recommending to friends and family in the future
Shacheesh
both Jason and Molly have been extremely professional and efficient in the complexities of mortgage application allowing the application to go through within a week from contact. Excellent work.
George
Great service so far, we are in the process of buying a house as first time buyers, all our questions were answered and we have received great guidance. We have now got our mortgage offer. Very pleased with the service we had from Jason and Daniel.
Partson
Excellent responsiveness
Ebo
Spoke with Hannah B and she was lovely!
Liam
Very helpful and felt at ease from the start. Received all the documents for me to fill in straight away and got my mortgage appointment booked in for the day after.
Mathew
The team at UK Moneyman were constantly in touch, informing me of any delays, updates or required additional information. Communication is key and they kept me informed every step of the way. Great service.
Daniel
Very helpful staff especially karen goes that extra mile to make sure you’re in the know of what you need to do definitely gets my 5 stars
Kerry
From start to finish nothing was to much trouble for Nathan and his team , they kept us updated all the time , i would definitely recommend them without a doubt.
bethany
Very pleased with the service provided, Good communication and easy to deal with.
Lucy
Brilliant company. So helpful and great communication! Very quick and efficient. 100% recommend.
Victoria
Nathan and Laura went above and beyond to get our mortgage. Always at the end of the phone if needed. Also quick replies through emails. After a very long anxious wait we finally received our offer. Thank you both
Collette
I cannot recommend Doncaster Money Man enough! Right from the initial phone call the the service was outstanding. Huge thanks to Chris, Jonathan and Megan who went above and beyond to get us the best deal. Always professional and helpful they kept...
Emily
Great service start to finish! Would not have been able to do the process without them. Very professional. Thank-you to Leo and Chloe. Would definitely recommend to first time buyers!
Mesut
Fast and good service
Simeng
Very responding with good services. Recommend to everyone.
Brett
Thank you so much to Charlie and Chloe for helping us get our mortgage. It wasn’t a totally straightforward case as a self employed person and the complications of being in a global pandemic but we got there in the end! We received such...
Throughout our tenure as a mortgage broker in Doncaster, we have helped many landlords secure mortgages for the properties they are investing in.
Whether you’re looking to mortgage a regular residential buy to let in Doncaster, a holiday let, or a HMO, our team of mortgage advisors in Doncaster will be happy to run through your circumstances and find you a great mortgage deal.
Here are some mortgage scenarios for buy to let in Doncaster that we have encountered in the past:
The buy to let option that we encounter the most is a standard residential buy to let. This option is basically what it says on the tin, it allows you to take out a mortgage on a residential property purchase that you intend to rent out rather than live in.
The majority of borrowers for buy to let in Doncaster will take out their mortgage as interest-only, as this will keep their monthly payments lower due to only paying the interest each month. You’ll usually pay the monthly amount through the money you have gathered from rental fees. The capital will need to be paid off in full at the end of the term.
A house in multiple occupancy is a term referring to residential properties that tend to have multiple tenants and have common areas that are shared. Examples of this would be student housing. Depending on how big your HMO is, you may be required to get a license from your local council. We highly suggest speaking to the local authority ahead of time so you are aware of the legalities.
Because HMOs are classed as a specialist investment of buy to let in Doncaster, not all mortgage lenders out there will offer products for them. Luckily we do have some on panel that can offer mortgages to customers looking to purchase a HMO.
HMOs tend to bring in higher yields than that of a regular buy to let investment, though you have to bear in mind other costs, such as license fees from the local authority and having to maintain the general upkeep of the property more frequently.
We see more and more landlords now looking to explore their options for purchasing their investment properties through a limited company SPV (Special Purpose Vehicle). This is especially the case when it comes to buy to let landlords with extensive property portfolios.
As a typical rule, you will pay a higher interest rate when taking out a mortgage in the name of a Ltd. Company and won’t have as many options when it comes to the number of lenders that offer mortgages for these.
That being said, the costs can be greatly outweighed by the potential tax savings. We would always suggest having a good talk with an experienced tax advisor to determine if this is the right path for you to take.
Holiday let mortgages are designed for people looking to purchase a property that will have multiple regular short term tenancies over time.
A holiday let is classed as a specialist type of investment, so once again it’s something that not all lenders will have products available for you to choose from. Turning this into a positive though, our mortgage advisors in Doncaster also have a great deal of knowledge in holiday let lending criteria and will be able to take a look at your options.
In this section we have taken a look at the most common buy to let in Doncaster scenarios that we have encountered in Doncaster.
If you do not match anything that has been mentioned here, then please don’t hesitate to get in touch with us. Utilising our extensive experience, it’s not often that there’s a situation we haven’t encountered at some point in the past. We look forward to helping you with your mortgage.
As your expert Mortgage Advisors for Buy to Let in Doncaster, we will be ready and waiting to support you through your entire mortgage process. We are available seven days a week, from early on in the day until later in the evening. We will aim to help you over any hurdles you encounter along the way.
Our open & honest team at Doncastermoneyman are very familiar with market for buy to let in Doncaster and have a lot of knowledge on it. We often work with buy to let landlords, forming relationships with those who regularly need to arrange a mortgage or remortgage, taking the stress off their shoulders.
We always keep ourselves up to date with the latest legislation and lending criteria for buy to let in Doncaster, which allows us to ensure our customers are always well informed and given accurate and professional mortgage advice in Doncaster.
Our mortgage administrators and advisors will support you from your first point of contact, right the way through until your transaction has completed and beyond. It is our mission to give our customers a clear and simple process, all the way throughout their experience of our mortgage advice service.
To see more about why so many people use us and come back to us for mortgage advice on a Buy to Let in Doncaster, please feel free to read our amazing reviews, left by genuine customers that we were more than happy to help.
Though the required amount can typically vary between 20%-40%, the minimum deposit for a buy to let mortgage is around 25% of the properties value.
Your free initial mortgage consultation in Doncaster will last roughly one hour. We will then be on our way to recommending a mortgage for you, where you have no obligation for you to proceed. If you’d rather not take it and step back for a time, you have every right to do so.
Your mortgage advisor in Doncaster will carry out a Fact Find to establish your personal mortgage needs, before recommending the most suitable mortgage for your situation. A credit check will then be required in order for you to obtain an Agreement in Principle, which we are able to help with. Once you have provided the lener with all the relevant documentation, and you have had a valuation of the property completed, a formal mortgage offer can then be issued.
To avoid finding yourself disappointed when viewing and making offers on properties, we recommend you obtain an Agreement in Principle ahead of time. At the very latest, we recommend that you obtain one prior to making an offer, as this will assist your bargaining position.
An Agreement in Principle will usually last for between 30 and 90 days depending on the Lender that you are with. If your Agreement in Principle expires, you can easily have it refreshed.
You may have the option of taking out a second mortgage on your home for things like debt consolidation or any potential Home Improvements. It may also be possible to take out a mortgage on a second property to use on yourself, for a family member, a holiday home or even a Buy to Let.
If you’ve had credit problems previously, you may still have a chance at getting a mortgage, but you may possibly be required to put down a higher deposit than for the property than you might have if you had with good credit. This can often be 15% of the property purchase price.
You are able to get a mortgage, once you have submitted at least one year’s accounts. The majority of Lenders use your salary plus dividend to calculate the maximum mortgage amount you can borrow, whereas others will go off your net profit.
You’ll generally be required to send three payslips if you are a standard employee to prove income and the latest 2 years’ accounts for self-employed. You will also need to produce proof of ID, proof of address and the previous 3 months’ bank statements.
The free mortgage consultation that you receive when getting in touch, will typically last up to an hour. We can help you obtain an agreement in principle within 24 hours of this consultation, with a formal mortgage offer taking on average about three weeks.
A telephone call where we can take some initial details and find out about your plan of action.
Enjoy finding a property!
Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.
Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.
A telephone call where we can take some initial details and find out about your plan of action.
Enjoy finding a property!
Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.
Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.
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