A buy to let mortgage is a mortgage for people who want to buy a property to rent.
Like residential mortgages you can choose between mortgage types including fixed, discounted ect, however the main difference is working out how much you wish to borrow. A mortgage provider offering a Buy to let mortgage will usually base their decisions on the likely rental income from the property instead of the person’s annual income.
Typically the rental income will need to be at least 125% of the mortgage repayment. The mortgage company will also need at least a 20% deposit.
For most buy to let investors the aim is to produce a rental income and not necessarily to own their property outright. Therefore the majority of buy to let mortgages are set up on an interest-only loan, making the monthly payments lower.
Buy to let advice
Whether you are a first time landlord or manage a large portfolio of properties, House Estate Agents will help you.
Mortgage and Insurance Solutions is directly regulated by the Financial Conduct Authority and therefore able to offer truly independent advice. They source from the whole of the market and specialist lenders to find the most suitable mortgage deal for you. We offer free impartial advice in the comfort of our refurbished offices. To make an appointment please call or email us on 0161 355 5555 or firstname.lastname@example.org
Sell or let your house with house estate agents
If you're thinking of moving, please request a current appraisal of your home. We will give you a really clear picture of who might buy or rent it, we will explain how we reach the target market, what it will sell or rent for and how long it's likely to take to achieve a sale or let. We will also explain what you should do to achieve the best price. With our knowledge, accurate valuations, experience and sound advice, House Estate Agents will always get you moving.