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Buy To Let

Giving you the tools to become a successful landlord.

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BUY TO LET

What is a buy to let mortgage?

A Buy to Let mortgage, like a residential mortgage is a loan secured against a property that you own. Instead of living in the property however, you rent out the property to another individual who is known as a tenant. Buying your own home can be very expensive, so people have to rent and the supply of good quality homes is important.

BUY TO LET

What can I borrow on a Buy to Let?

The amount that you can borrow is based on a combination of factors, including the amount of rental income you can expect to receive from the property and the value of the property itself. The rental income will usually need to cover the mortgage payments by between 125% and 145%.

Why not use our to give you an indication of what you may be able to borrow based on the anticipated rental income.

With some lenders it is also possible to obtain a Buy to Let mortgage without being in receipt of an earned income, however, most lenders will deem it necessary and to have a minimum income in order to be eligible for the mortgage.

Being one of the more complex mortgages on the market we would recommend speaking to one of our specialist advisers who will be able to give you advice and a specific figure you may be able to borrow.

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BUY TO LET

What can I borrow on a Buy to Let?

  • Generally, interest rates on Buy to Let mortgages tend to be higher than residential mortgages.
     

  • Generally, the minimum deposit you can put down on a Buy to Let mortgage is 20% of the property value. However, most lenders would require at least a 25% deposit.

  • Generally, interest rates on Buy to Let mortgages tend to be higher than residential mortgages.

With the right advice, getting a Buy to Let mortgage can be a simple process. We would therefore highly recommend that for an investment property such as a Buy to Let that you speak to one of our expert advisers, who will be able to help you every step of the way. 

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Contact Us

Call: 01904 373 028

Email: enquiries@mymortgagefinder.co.uk

 

Address:

My Mortgage Finder, New Barn, Clifford Road, Boston Spa, LS23 6DT

  • My Mortgage Finder
  • My Mortgage Finder

Your home may be repossessed if you do not keep up with repayments on your mortgage.

Some Buy to Let mortgages are not regulated by the Financial Conduct Authority.

'My Mortgage Finder is a trading name of Golden Triangle Financial Services Limited. Golden Triangle Financial Services Limited is authorised and regulated by the Financial Conduct Authority.

My Mortgage Finder, New Barn, Clifford Road, Boston Spa, LS23 6DT

 

Our Companies House Number is 11623784.

We are authorised and regulated by the Financial Authorities Conduct.

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