Buy-to-Let
All you need to know
Buy-to-let (BTL) mortgages are for landlords who buy property to rent it out. The rules around buy-to-let mortgages are similar to those around regular mortgages, but there are some key differences.
Who can get a buy-to-let mortgage?
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You want to invest in houses or flats
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You can afford to take a risk: investing in property is risk, so you shouldn't take out a BTL mortgage if you can't afford to take that risk.
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You already own your own home: You'll struggle to get a buy-to-let mortgage if you don't already.
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You have a good credit record and aren't stretched to much on your other borrowings otherwise you might struggle to get a lender to approve your Buy-to- Let mortgage.
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Your under a certain age: lenders have upper age limits, typically between 70 or 75. This is the oldest you can be when the mortgage ends not when it starts.
Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Some forms of Buy to Let mortgages are not regulated by the Financial Conduct Authority.
Buy-to-let mortgages are a lot like ordinary mortgages, but with some key differences;
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The arrangement fees tend to be higher
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Interest rates on buy-to-let mortgages are sometimes higher
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The minimum deposit for a buy-to-let mortgage is 25% of the property value
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Most BTL mortgages are interest-only. this means you don't pay anything off the loan, but at the end of the mortgage term you can repay the capital in full.
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The maximum you can borrow is linked to the amount of rental income you expect to receive
All our mortgage advisers have access to a large number of lenders and products and are fully committed to the principals laid down by the Financial Conduct Authority (FCA) and their ‘Treating Customers Fairly’ (TCF) initiative.
You’ll be provided with all the information you need to allow you to make an informed decision about your next step.
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Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
Some forms of Buy to Let mortgages are not regulated by the Financial Conduct Authority.