Whether you’re a first-time landlord, looking to add another property to your portfolio or simply remortgage a buy-to-let property- You’re in the right place!
We can help you find the right buy-to-let mortgage, with expert guidance and support every step of the way.
A buy-to-let mortgage is designed for people who want to buy a property to rent out or build a property portfolio.
The right buy-to-let mortgage will depend on your circumstances, the rental property you’re looking to buy and the property’s potential rental income.
Buy-to-let mortgages are similar to residential mortgages but with some key differences.
Fees are higher: The fees associated with buy-to-let mortgages are typically higher than those for residential mortgages. This is because lenders view buy-to-let mortgages as riskier, as there is a greater chance that the borrower will default on the loan if they are unable to find tenants.
Interest rates are higher: The interest rates on buy-to-let mortgages are also typically higher than those for regular mortgages. This is again because of the increased risk involved.
Minimum deposit is higher: The minimum deposit required for a buy-to-let mortgage is usually 25% of the property’s value. This is compared to 5% or 10% for a regular mortgage.
Most BTL mortgages are interest-only: This means you only pay the interest on the loan each month. The capital (the amount you borrowed) is not repaid until the end of the mortgage term. This can be a great option for investors who want to maximize their rental income, but it is important to make sure that you have a plan in place to repay the capital at the end of the mortgage term.
Becoming a landlord isn’t a decision to be taken lightly;
There are many things to consider, such as the cost, keeping up to date with regulations and tax implications.
The decision of whether to invest in buy-to-let is a personal one.
It is important to weigh up the pros and cons carefully before deciding. You’re in safe hands our experts will help support you every step of the way.
We have access to a wide range of buy-to-let mortgage products, so we can help you find the one most suited to your needs and portfolio. We will consider your financial situation, your investment goals, and the properties in which you are interested.
Our team of buy-to-let mortgage experts will walk you through the process step-by-step, providing you with personalised guidance throughout the mortgage journey.
We take the stress out of applying for a buy-to-let mortgage. Our team of experts will manage everything for you, from start to finish.
We will identify the right level of landlord protection you need and arrange this for you.
Our mortgage service is free of charge, so you can save money on unnecessary fees. Fees from third parties may apply.
We have a dedicated customer support team that is available seven days a week to answer your queries.
Let’s find the right buy-to-let mortgage for you.
Our friendly and experienced advisors will be happy to help you find the most suitable buy-to-let mortgage for your needs.
Determining whether buy-to-let is worthwhile depends on your unique circumstances and goals. Factors like property cost, rental yield, and potential risks, including the purchase price and void periods, should be carefully considered.
The minimum deposit for a buy-to-let mortgage is usually around 25% of the property's value. However, some lenders may accept lower deposits, such as 15% or 20%, depending on your situation and the lender's policies. It is important to note that the loan-to-value ratio (LTV) will be higher with a lower deposit, which may result in higher interest rates and stricter lending criteria.
Buy-to-let mortgages differ from residential mortgages in several ways, including higher interest rates, stricter eligibility criteria, and the purpose of the loan. Buy-to-let mortgages are tailored for purchasing properties to rent out, making them a popular choice for investors looking to expand their property portfolios.
There are no limits to how many buy-to-let mortgages you can have. Certain lenders may limit how much they'll lend to an individual. This is to simply minimise their risk. Landlords can have multiple buy-to-let mortgages across several different lenders.
Landlords can generate income in several ways such as, off the rent payments from tenants, capital growth if the property value increases, and tax relief on expenses.
Letting agents can assist with finding reputable tenants, collecting the deposit and monthly rent, managing the property and any repairs, and also handling legal and financial matters.
Guarantors are individuals who commit to covering mortgage payments if you can't. They might be required if you have low deposit or credit history concerns.
Eligibility criteria include a positive credit history, a viable property to rent out, and typically a minimum deposit of 20% of the property's value. You will also need to be over the age of twenty-one, although so lenders may accept eighteen year olds. Specific criteria differ between each lender so always check with us.
Most lenders require you to own your own home before they will allow you to have a BTL mortgage.
Buy-to-let mortgages differ from residential ones with higher deposit requirements, higher interest rates, stricter lending criteria, and distinct tax implications.
Repayment options include interest-only (paying interest monthly, with the full loan due later) and repayment mortgage (paying both interest and principal monthly). When looking for the right buy, it's important to consider which repayment option works best for your financial situation.
Lenders evaluate affordability based on your personal and potential rental income, plus the property's value. Monthly rental income typically needs to cover a certain percentage of the mortgage payment.
Some forms of buy to let mortgages are not regulated by the Financial Conduct Authority (FCA). This is because they are a business transaction and are therefore not covered by the FCA's consumer regulations, which aim to protect the public.. This is because they are a business transaction and are therefore not covered by the FCA's consumer regulations, which aim to protect the public.
Buy-to-let mortgage terms usually range from 25 to 35 years, some lenders may consider 40 years. Each lender is different so it’s best to contact us for advice.
Selling a buy-to-let property may incur capital gains tax on profits. You might also need to pay agent fees for property sale services. For more information on Capital Gains Tax please visit - www.gov.uk/capital-gains-tax
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