Whether you're planning to buy your first Buy to Let (BTL) property as an investment, expand your existing property portfolio or if you're looking for a better deal on your existing mortgage, we have a range of mortgages available for you to consider.
In six simple steps you can apply online for a Buy to Let mortgage with Apartments.com.gh and if you're successful, you'll have a mortgage Offer from us at the end.
To get started you’ll need to complete a short series of questions so we can check whether you’re eligible to apply with us and whether you can apply online.
By completing a few details about the mortgage you are looking for, we’ll provide you with a quote known as a Mortgage Illustration. This provides you with a useful summary of the mortgage you've selected and the fees you'll have to pay. You can produce as many quotes as you like to find the mortgage that’s best for you.
Once you’ve decided on the mortgage you want, just progress the Mortgage Illustration for your chosen rate. You'll need to answer some basic questions about your circumstances which will be credit checked – but don’t worry, this won’t affect your credit score. If you meet our criteria, we’ll give you an AIP certificate which you can download and print. An AIP is a good way to show you’re serious about buying a property as it can give you an important edge when you find a property you like.
The Full application asks more detail about the answers you’ve already given including details of the property. Once completed, this information will be credit scored again to ensure your application still meets our lending criteria. If all is well, your application will be accepted and passed to an underwriter. If a valuation fee is applicable, this must be paid within three working days of acceptance.
As part of the application process, you may be asked to provide documents so that the underwriter can make a full assessment of your application. This could include proof of income, residency and identification. A valuation of the property will also be needed which we will instruct on your behalf.
Finally, if the documents you’ve provided and the valuation report meet our requirements, we’ll issue you with a mortgage Offer. It’s essential at this stage to check the details carefully and let us know if there are any changes in your circumstances, before signing and returning the document to us. By signing the mortgage Offer, you’ll be agreeing to the mortgage and the terms and conditions.
The affordability of a Buy to Let loan is primarily based on the expected monthly income generated from letting the property to a tenant. The actual income generated may be different and can be influenced over time by changes within the rental market. You will remain responsible for meeting the costs of your loan and the additional costs associated with letting the property.
Please note that following submission of your full application, an underwriter will make a full assessment of the information you’ve provided and your credit score. In some circumstances this may change the automated decision we originally gave to you. If this happens we’ll contact you to explain why our decision has changed.
