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You are here: Home / Family Let Mortgage Product

Family Let Mortgage Product

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Finding a mortgage for a property you plan to let to family can be a challenge. This is because there is a greater consumer protection framework so some lenders choose to shy away from the additional paperwork. Never fear though as Niche Advice have a number of excellent Family Let Mortgages to choose from.

Family Let Mortgage Products

  • Let the property to members of your family.
  • The rent can be under market value but must meet the lenders minimum requirement.
  • There must be a formal tenancy agreement in place.
  • Help out your family whilst retaining your asset.

No upfront Broker fees by us. You only pay once the deal completes.

 

Example Product Rate and Fees – Family Let Mortgages

Initial Rate: 3.49
Subsequent: 3.49
The overall cost for comparison 3.63 APRC

The total amount you must pay back, including the amount borrowed is £339,557

Features: Let the property to family members. There is an upfront tenancy fee £75.

Type and initial benefit period Lifetime term discount of 1.50%
Minimum deposit / equity: 25%
Valuation fee £290
Booking fee £199
Lender arrangement £399
Telegraphic transfer / CHAPS fee £25
Legal fee £360
Early repayment charge 5/4/3/2/1% of the amount repaid in the first 5 years

Make an Enquiry Online

For more information on HMO Mortgages visa Niche Advice please also visit our dedicated HMO Mortgage page.

For more information on HMO Mortgage and Remortgage Products please call complete the enquiry form on this page or call the number below. 


Any property used as security, which may include your home. may be repossessed if you do not keep up repayments on your mortgage


Important Information

Residential and Buy to Let Mortgages

Rates current as at 16/9/17 . The overall cost for comparison is based on an open market value of £300,000 over a 25 year term. Right-to-Buy examples are based on a discounted purchase price of £200,000. Repayment for Residential and Interest only for Buy-to-let (unless otherwise specified). Eligibility will depend on your own personal circumstances.

KEY – ERC = Main early repayment charge.

The purpose of this web is for information only and is based on a fictitious illustrative scenario. It does not constitute a Mortgage Offer in any way.

It is essential that you seek independent mortgage advice as a suitable product will be based on your own individual circumstances. An interest rate should not be read in isolation, and you should refer to your personal key facts illustration and Mortgage Offers for full terms and conditions. If anything is unclear it should be discussed fully with both your mortgage and legal advisors before entering into a mortgage contract with the lender.

The information contained herein is based on research through the Trigold (IRESS UK) sourcing system. When first published to this site the data is normally 24 hours behind real time, and may or may not still be available.

A first charge over your property is required as security for the loan.

The formal mortgage offer of an advance will be subject to a valuation and other satisfactory references.

Make an enquiry Online

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We have used Niche for the fourth time now and would not even consider going anywhere else! A highly professional and meticulous service achieving the best deals at the best prices, the team at Niche have always supported us throughout the entire process of purchasing and remortgaging and we are ever grateful.

J A - Slough
Having past my retirement age a mortgage to suit our needs had become very difficult to get and very expensive. Our saviors were Niche. Many thanks to Payam, Richard, and Kerry Ann by making the whole process run smooth from start to finish. What a TEAM.

R&C C - Cornwall
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Tel: 020 7993 2044
Fax: 0845 528 0411
Email: info@nicheadvice.co.uk
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AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS. If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

If you wish to register a complaint, please write to us on the details below or call 020 7993 2044.

Correspondence Address: Niche, Unit F6, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG.
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567.
Registered Office : Niche, Unit F6, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG. Registered in England & Wales. Company registration number: 06599033. VAT number: 974 2007 25.

EQUIFAX OFFER -PLEASE NOTE THAT MONTHLY FEES APPLY TO THE CONSUMER FOLLOWING THE 30 DAY FREE TRIAL OF THESE PRODUCTS IF THE USER DOES NOT CANCEL WITHIN THE TRIAL PERIOD. THE MONTHLY FEES ARE £7.95 FOR THE FREE CREDIT REPORT. A USER CAN CANCEL THEIR SUBSCRIPTION WITH EQUIFAX AT ANY TIME.

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