Many businesses are continually looking for different ways to invest their profits which ultimately will allow them to generate more income. An option not often considered, but which could yield strong dividends, is investing in a buy-to-let property.
For example, there might be an opportunity to purchase a new building which is in the perfect location for your business but may seem too big for you at the moment. Even though you don’t need the additional space, you could simply purchase it and rent it out to other companies.
In addition, a buy-to-let mortgage can be either interest-only or repayment. With and interest-only mortgage you only pay a small monthly fee with a view to settling the mortgage in full at the end of its term, allowing you greater flexibility and more cash in your business.
The process for applying for a buy-to-let mortgage is very simple, you will need:
- 3 years of full audited business accounts
- 6 months of bank statements
- A summary of all assets and liabilities
If you are looking for some advice or have some questions, please call us on 01993 706403 or e-mail enquiries@ngiresidential.co.uk.