Buy To Let Mortgages
Buy To Let Mortgages is a mortgage loan secured against a property that is rented / let out to a third party(s) by the applicant (borrower) and is not lived in / occupied by the borrower. It can otherwise be known as an investment mortgage, investment property mortgage or a commercial mortgage.
In calculating the affordability of Buy To Let Mortgages, lenders will make an assessment of the rentability of the property, and assess the expected rental value per month - i.e. how easy they feel it will be to rent the property out, and what the expected / anticipated monthly rental income will be. Different lenders use different rental equations / calculations, but the standard is that the anticipated rental income must equal 125% of the monthly mortgage payment. Some lenders will take the applicants income into consideration also if the rental cover is tight. Although there have occasionally been 90% LTV products available on Buy To Let products, the minimum deposit tends to be 15% - so a maximum LTV of 85%.
We can introduce you to Regulated Mortgage Brokers who will canvass the lending market and produce information for you on those products which are most likely to meet your criteria.
We are proud, through our Mortgage Introductory Service, to be able to introduce you to regulated mortgages brokers who can help you to find the most appropriate buy to let mortgage to meet your individual needs, at no obligation. Simply click below and submit an enquiry.
We believe that regulated service is the best service!