Buy To Let Mortgages

It is important to note that buying a property to rent out isn’t the same as buying your own home.

Buy-To-Let mortgages differ from regular mortgages in that the interest rates are generally 1-2% higher; the minimum deposit is usually about 25% of property value but you are eligible for a range of tax deductibles.

The maximum that can be borrowed is determined by the amount of rental income
you receive. Lenders typically need the rental income to be about 25-30% higher
than your mortgage payment.

Some of the important variables lenders take into account when evaluating Buy-To-Let eligibility are credit scores, income levels, and age limits.

You must have a good credit record and not be stretched too much on your other borrowings such as your existing mortgage and credit cards.

 “If you want to get onto the property ladder, call us to find out how we can help”

Some ‘Buy to Let’ Mortgages are not regulated by the Financial Conduct Authority