Buy to Let

Buy to Let explained

A buy to let mortgage is used for investment property that you plan to rent out to tenants, rather than a property you will live in. Lenders prefer you to finance this type of property with a specialist buy to let mortgage rather than a standard purchase mortgage. Usually a higher deposit of 25%-40% of the property value is required.

Buy to Let mortgages

Buy to let mortgages are available from a variety of lenders and usually have a higher interest rate which can make them more expensive than residential mortgages.

This type of mortgage can be fixed-term, discount variable or tracker and can have options for capital repayment or interest only. Many investors choose to repay interest only, meaning they only pay off the accrued interest on the loan and the borrowed amount is paid at the end of the mortgage term.

Process

We believe in a simple step-by-step approach to help you find the right mortgage for your needs.  

Over the course of our appointments, we will find out about you and your current situation as well as what you are looking for in a mortgage. This will help us assess your circumstances and we can decide the best way to proceed. 

We will search for suitable products for you, through a range of mortgage deals across the marketplace and then present the most suitable offer for your needs in an easy to understand document.
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• We will learn about you and your needs
• Discuss your mortgage and protection requirements and affordability
• Provide recommendations tailored to your situation
• Explain the mortgage and reasons behind our recommendation in full
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Fees

There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.

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

There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

Contact an Expert

Our team of experts are here to answer any questions you may have without all the jargon. Get in touch now to see how we can help you reach your mortgage goals.