Get started today before this once in a lifetime opportunity expires.
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.
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.