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    Buy to Let Mortgage Advisors

    AS A SPECIALIST BROKER WE ARE ABLE TO HELP YOU with A LOAN FINANCE ON  PROPERTY IN THE UNITED KINGDOM

    HOW DO THESE LOANS WORK?

    A buy to let mortgage is designed to enable an individual to finance a property for letting rather than for owner-occupation. Most buy to let (BTL) mortgages are not regulated by the FCA and are outside the scope.

    There is an exception, this is when it meets the criteria for a regulated consumer buy to let (CBTL) mortgage.

     

    WHAT DO I NEED FOR A BUY-TO-LET MORTGAGE?

    A majority of lenders will ask you to put down a larger deposit for a buy-to-let mortgage. This deposit is normally  around 25% of the property’s value, however the mortgage may require a larger deposit at times this could be as large as 40%.
    Consumer Buy to Let
    WHAT IS A BUY-TO-LET MORTGAGE?
    A buy-to-let mortgage is a mortgage done to help people who purchase their property as an investment, rather than just as a place to live. If you want to rent out your property for a profit, you will not be able to finance your property with a standard mortgage.
    ARE They MORE EXPENSIVE?
    Buy-to-let mortgages do have larger fees and higher interest rates because they are a larger risk for the lender. Landlords with a buy-to-let normally expect their monthly mortgage payments to be covered by the rent they receive.

    DOES BUY-TO-LET PROPERTY COST?

    In 2019 the average purchase price for a buy-to-let property was £123,786, compared with an average of £227,709 for a residential property. This could suggests prospective landlords are looking for properties less expensive, due to them needing a larger deposit to get a loan.
    WHO CAN GET A BtL MORTGAGE?
    Because lenders consider these loans riskier, they require stricter assessments for who can get this mortgage. This is usually necessary for you to already have a property and an income of £25,000 a year, and lenders will also check your credit record.