Buy-To-Let Mortgages
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.
Frequently Asked Questions
-
Buy-to-let mortgages usually require a larger deposit than residential mortgages, typically between 20% and 40% of the property’s value. The exact amount depends on the lender’s criteria and the property’s expected rental income.
-
A buy-to-let mortgage is specifically for purchasing property you intend to rent out rather than live in. Unlike residential mortgages, they typically have higher deposit requirements and slightly higher interest rates and are often arranged on an interest-only basis, where you pay only the interest during the term and the loan balance at the end.
-
To qualify for a buy-to-let mortgage, lenders generally expect you to own your own home or have a history of managing a mortgage. While first-time buyers may still be eligible, the criteria may be stricter. Lenders may also consider your income, age, and expected rental yield.
-
Yes, there are several costs to account for, including a higher rate of stamp duty for buy-to-let properties, property maintenance expenses, landlord insurance, and letting agent fees if you plan to use one. We can help you budget for these costs when planning your purchase.
Get In Touch
Contact us for friendly, reliable advice. Initial consultations are free.