Buy To Let Mortgage

If you are wanting to invest in a property to generate income by letting it out, you’ll need a buy to let mortgage. These vary greatly from home buyer mortgages, they are commercial agreements, deposits need to be higher and rates are not as low. However if you have the means and the rental value of the property you are buying stacks up, investing in property in this way can be lucrative. There are a lot of factors to consider when purchasing a buy to let property and our advisors can run through these with you, sense checking your profitability assumptions and calculations.

Your home may be repossessed if you do not keep up repayments on your mortgage.
Not all buy-to-let mortgages are regulated by the Financial Conduct Authority.

Buy to let mortgage – how much can I borrow?

The amount that you will be able to borrow will be based on the amount of rental income that you expect to receive from the property. Lenders will require the monthly rental income to exceed the mortgage repayments, by how much varies by lender.

How much deposit will I need?

The deposit required for a buy to let mortgage again varies by lender – it can be as low as 20% but these deals are limited and the lower deposit offers usually mean a higher lending rate. The interest rates on buy-to-let mortgages are higher than a home buyer mortgage rates and there are fewer lenders. Our advisors can look at buy-to-let mortgage rates and products from a range of lenders to find one that suits your needs.

Next Steps

Make an appointment with one of our advisors and we’ll go through everything with you. Don’t forget there is no charge for your initial mortgage consultation and absolutely no obligation to proceed.