BUY TO LET MORTGAGES

Interested in investing in property but to raise cash with buy to let mortgages? We’re here to help.

A buy-to-let mortgage is sold specifically to individuals who purchase property as an investment, instead of as a place to live. Most lenders prefer you not to finance your purchase with a typical residential mortgage if you are planning to rent out a new property.

what DOES IT COVER?

A powerful tool for new investors and seasoned investors alike, buy-to-let mortgages are have become extremely useful in the property rental market. Keep in mind though, that BTL (buy-to-let) mortgages are far more expensive than standard mortgages which require deposits between 25 – 40%

You may be eligible for a BTL mortgage under the following conditions:

  • You are seeking to invest in houses or flats.
  • You have an understanding of the risks in property investments
  • You won your own home with – either outright or with an outstanding mortgage
  • Your credit record is good
  • You make £25,000+ a year. Anything less might cause challenges in getting approval from lenders to approve your BTL mortgage.
  • Your age falls within lenders’ upper age limits (normally the oldest you can be when the mortgage ends has to be between 70 or 75) so you must be under a certain age when you take out the BTL

HOW DOES IT WORK?

Most of the time, you as a borrower, will take out an interest-only mortgage for the property you have selected. You will then only have to pay the interest on the loan as it accumulates each month, which will often come from the rent you collect. The full amount of the mortgage will be paid at the end of your agreed term with the lender.

Buy To Let Mortgages

Get in touch with UK’s best finance advisors for more information on Buy-to-Let Mortgages.

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BUY TO LET MORTGAGES

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