Buy To Let
Buy-to-Let in recent years has become an increasingly popular mortgage option for those wishing to invest in residential rental property.
However, some potential investors are put off entering the buy-to-let market due to the popular perception that buy-to-let mortgages are expensive.
Buying a Proerty to Rent
This popular misconception no longer holds true as lenders today are now offering increasingly competitive rates, which in many cases are generally not significantly higher than those on standard mortgages.
Landlords also have a choice between interest only and repayment mortgages. However, buy-to-let mortgages do differ in several important ways from standard mortgages.
A major difference is the criteria lenders apply when considering approving a loan. Buy-to-let mortgage lenders base their decisions generally on whether or not to approve a loan on the likely rental income from the property and not the applicants' income.
In order to secure finance, rental income is typically needed to be 125% of the mortgage repayment, although in come circumstances as little as 100% rental coverage is available.
What can we offer you?
This can be a popular mortgage option for those wishing to invest in residential rental property. Although the perception is that buy to let mortgages are expensive, this isn't necessarily correct. There are many lenders who offer competitive rates, which in many cases are generally similar to the rates offered on a standard mortgage.
Landlords also have a choice between interest only and repayment mortgages. Buy to let mortgages do differ in several ways from standard mortgages. When lenders are considering approving a buy to let loan, they generally base their decision on the likely rental income from the property and not necessarily the applicants' income. A prospective landlord needs to be aware that the rental income typically needed is 125% of the mortgage repayment, although this can vary from as little as 100% rental income up to 130%.
With our expertise in this market, we can help you find the best product to suit your requirements. With our extensive access to thousands of mortgages and our knowledge of lender's requirements, we can find you the right buy-to-let mortgage.
Some Buy to Let mortgages are NOT regulated by the Financial Conduct Authority.