Buy to Let

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Buy to Let Mortgages

A buy to let mortgage is a specialist loan, sometimes called a buy to let loan, for the specific purpose of buying property, which is to be let out.

Traditionally buy to let mortgages are associated with investors but as property values continue to remain strong, and after the much publicised failings of the country’s pension situation, more and more people are examining the option of becoming a landlord.

Buy to let mortgages bear a lot of similarities to home owner mortgages and they are secured against the property as with a standard mortgage. Due to the inherent risk associated with letting out a property, and therefore maintaining the repayments, a slightly higher deposit than a normal residential mortgage is required by the lenders-typically 15% being the minimum.

Most lenders will charge a slightly higher rate of interest than a normal mortgage and the borrowing must be able to be supported from the rental income. Most lenders insist on some surplus income so the rent must exceed the repayments by up to 30% depending on which lender you are using.

As with all mortgage and loan products this sector of the industry is fiercely competitive, there are numerous lenders offering a number of different products. Some products even cater for people who have adverse credit although expect the interest rate to be higher.

There are a number of different products to choose from these include:

Fixed Rate Buy to Let Mortgage

Variable Rate Buy to Let Mortgage

Capped Rate Buy to Let

Minimum Status/Self Cert Buy to Let Mortgage

If you would like any advice on the above Lifestyle Solution would be happy to help by answering any questions you may have impartially and in complete confidence.

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0845 25 75 485

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This website is provided as an independent marketing website.

We are neither a mortgage lender nor an independent financial adviser and, as such are unable to offer financial advice

Enquiries generated via this website are passed on to independent financial advisers and mortgage/loan brokers.

Think carefully before securing other debts against your home.

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