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Mortgage Broker advice (first BTL Portsmouth)


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Hi All,

I am currently living in a property and hope to rent it out in a years time, I will then move to a rented flat whilst I search for the next property to buy to live in for a couple of years, with the intention of repeating the process.

However this strategy requires me to use lenders that do not need me to own my place of primary residence, so as its a complex situation a broker is probably my best route (I believe?), my first experiences with brokers were not great; they offered me rate/fees that I could easily beat by a quick google (they were probably offering what brings the highest commission). I'm quite young and look younger than my age by quite a bit so maybe they saw me and thought I was not well informed and that they could get away with more expensive products.

So my question is how to find a good broker, any tips, suggestions or even referrals would be great! Thanks in advanced to anyone who can help me in the early stages, I'm based in Portsmouth if that helps.

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Tip 1 - forget Google

Tip 2 - There are numerous lenders who will do this for you when the time comes as you will already own an investment property - you dont need to own your own home to get a BTL mortgage - it just helps

Tip 3 - However when they time comes you will be buying with a residential mortgage as you intend to live in it - not a BTL?

TIP 3 - talk to a broker about your whole circumstances - not a snippet - that's what will influence the rates available - not the commissions a broker earns - that's just insulting

good luck

Steve

https://www.promisemoney.co.uk/

112850687_PromiseMoneyLogo.png.7403204f1c11c618768017f63eaf6401.png

 

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