Are you planning to buy a property that you won’t use for your own living, you want to rent it out? If you don’t have enough money for it, or you just don’t want to invest all your spare cash, an investment mortgage may be the ideal solution.
What is meant by an “investment mortgage”?
An investment mortgage can also be referred to as an investment mortgage or a buy-to-let mortgage. It is suitable for financing the purchase of flats, houses, holiday cottages and commercial buildings to be rented out at a later date.
Such a property will then become a regular source of income and its value will increase over time. This will increase the value of your property.
Who can arrange an investment mortgage?
The applicant for an investment mortgage must be of legal age and legal capacity, have sufficient and regular income, and have no criminal record. In addition, the bank may take into account the future rental income if he or she provides proof of a lease agreement with the future tenant.
Did you know that in larger cities, income from long-term rentals usually safely covers the regular monthly mortgage payment?