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Exclusive new buy to let mortgage products

Don’t ever think being a landlord is nothing but bad news. House prices may be creeping upwards and threatening to squeeze rental yields, but the buy to let mortgage market is as bold as it has been at any point since the recession, with lower rates and greater availability giving landlords more choice than we’ve had for years.

Following in this trend, TurnKey Landlords now has access to two exclusive, specialist products. The first is for former UK residents working abroad, and the second is for investors looking to buy seven-figure properties.

Large buy to let mortgage

Our large buy to let mortgage, or high-value mortgage, is available at up to 75% LTV for loans of £1 million or more (so, for properties with values in excess of £1.34 million). Available on an interest-only or capital repayment basis, these loans are ideal for investors with a large outlay who are looking to attract premium rents.

Investing in high-value property

Large buy to let mortgages have become scarce since the recession, meaning that landlords who want to invest in high value single properties – such as those found in prime Central London – haven’t had much choice when it comes to finance. If you can afford a high value mortgage, and have sufficient hedges (such as a portfolio of smaller buy to let properties) in place, you can potentially enjoy a very lucrative income.

Our blogs on attitudes to risk and investing for yields might have some useful information if you’re considering the plunge into a heavy-duty investment.

Expat buy to let mortgage

Our expat buy to let mortgage is for former British nationals now working abroad who wish to buy or remortgage a property to let in the UK. These mortgages have fairly stringent requirements; see our expat buy to let mortgage page for more details.

Buying a UK property from abroad

Buying a property from overseas is even more difficult than your bog-standard property search – which we all know is pretty tricky. I recommend having, or even hiring, a friend back in Blighty who can vet properties on your behalf. They could even take high-quality digital pictures and email them to you, so you know for sure that the place you’re looking at is up to scratch.

Fortunately, thanks to the internet, the shortlisting procedure is a lot easier no matter where you are (unless you live somewhere without a decent wireless connection, which I think these days is only the South Pole and rural Norfolk). Websites like Rightmove, Zoopla and Primelocation are all excellent sources to find a property to let.

Managing a property from overseas

It’s hard enough to pop over to conduct a viewing if you’re just up the M1, let alone halfway across the planet. In addition, by law, you have to provide a UK address to which your tenant can report problems, serve notices etc. As such, a letting agent will be all but compulsory – which means that you need to find the right one.

A decent agent will market your property the way you want it marketed to the tenants you want to attract. Our blogs Marketing your buy to let property and Attracting the perfect tenant might also be worth a read if you’re considering long-distance landlording.

To see what other buy to let products we have available, visit our best buy table.

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Amelia Vargo is an online marketing executive for CT Capital. Amelia writes for Turnkey Mortgages, Turnkey Landlords, TurnKey Bridging, TurnKey Life and Commercial Trust.