UNITED KINGDOM – 25 Apr, 2017 – Open Vision Finance is an experienced mortgage and insurance firm which has been offering advice for years to those who are interested in buying their own property and acquiring a mortgage, including first-time buyers, let-to-buy investments, buy-to-let investments, and so on.
As of now, the property market in the UK is on the increase, and more and more individuals are choosing to take advantage of different schemes and programmes which are in place. But for those who would like to make an investment in property – specifically a buy-to-let investment – Open Vision Finance provides invaluable advice from its roster of mortgage advisors and brokers.
One of the key pieces of advice Open Vision Finance imparts is regarding deposits. “In order to purchase a buy-to-let property you will need a deposit, usually a minimum of 25% of the purchase price. There are a few lenders who may offer products with a minimum deposit required of 20%, and these would usually be available to experienced landlords, carrying a much higher interest rate and arrangement fees.”
Aside from giving advice on deposits for buy-to-let properties, Open Vision Finance points out that there are other important fees to consider as well. For instance, interested parties should be aware that the fees involved in the purchase of a buy-to-let property include a survey fee, mortgage arrangement expenses, legal fees, stamp duty, land tax, and more.
Open Vision Finance also explains in detail how exactly buy-to-let mortgage arrangements work. The company states, “Buy-to-let mortgages are usually arranged on an interest only basis. This means that unless you make overpayments, using the rental income received, the mortgage balance will remain the same at the end of the mortgage term. At the end of the term the mortgage will need to be repaid and if overpayments have not been made the property will need to be sold. We would hope that the value of the property has increased since your original purchase, to enable you to not only repay the outstanding mortgage but also walk away with some profit.”
The good news is that Open Vision Finance promises to be with its clients every step of the way along the buy-to-let investment process, from finding the right property to arranging the mortgage itself – and even to arranging protection through insurance.
Open Vision Finance is a known financial services provider for mortgages, insurance, and other services.
To learn more about Bristol mortgages online, visit the website.
Company Name: Open Vision Finance
Contact Person: Justin Phillips
Phone: 01278 455779
Address:41 High Street
Country: United Kingdom