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Buy-to-let mortgage is a mortgage arrangement in which an investor borrows money to purchase property in the private rented sector in order to let it out to tenants. Buy-to-let mortgages have been on offer in the UK since 1996. [6] Lenders calculate how much they are willing to lend using a different formula than for an owner-occupied property.
A remortgage (known as refinancing in the United States) is the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security. [1] The term is mainly used commercially in the United Kingdom , though what it describes is not unique to any one country.
Housing contract activity picked up again in November as buyers shrugged off elevated mortgage rates and took advantage of higher inventory levels.. The Pending Home Sales Index, which tracks ...
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Right to buy mortgage – a mortgage arranged in connection with the "right to buy your home" legislation for council or housing association tenants. Let to buy – a form of transaction whereby homeowners rent out their current main residence, either by obtaining consent from their current mortgage lender or remortgaging to a buy to let loan ...
Mortgage rates in the news. Mortgage lenders keep a close eye on the benchmark federal funds target interest rate set by the Federal Reserve, the U.S.'s central bank. Called the Fed rate, it's the ...
Landlords' insurance is often referred to as buy-to-let insurance, however buy-to-let insurance is a type of landlords' insurance. It is important to distinguish between buy-to-let insurance which generally covers one property that has been purchased with a buy-to-let mortgage, and multi-property insurance, which covers two or more properties.