Buy to Let
mortgages

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What is a Buy to Let mortgage

A Buy to Let (BTL) mortgage is a mortgage that enables the purchase of a property that can be let out for financial reward.

Essentially, you are buying a property to let it out to a paying tenant.

Just like a normal residential mortgage you will be responsible for paying the mortgage when the payments full due, regardless of whether you have a paying tenant or not.

Things you need to know

The lender will not only assess affordability based on your incomings and outgoings but will also assess the viability of the property for rental income.

The rental income will also need to pass the lenders stress tests - that is to say the rental income will not only have to cover the mortgage payments but leave some over to cover unexpected tenant free periods and property maintenance. The amount of required margin differs from lender to lender.

You can expect to pay considerably more stamp duty on your purchase than you would for a first property you intend to live in.

How we can help

Becoming a landlord is a big step.

We can advise on what is required and what you can expect moving forward by way of return. There are many lenders offering BTL mortgages and all have their differing criteria. Asking the right questions to assess your enquiry will enable us to recommend the best BTL mortgage. This will go some way to help ensure you secure the best returns from your rental property.

You can start your enquiry online

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or call us on 01299 251 209 anytime between 8:00am and 9:00pm 7 days a week