Buy to Let Mortgages
BUY TO LET MORTGAGE
BTL Mortgages are now split into two categories Business BTL which are not regulated by the FCA and Consumer BTL Mortgages which are.
If you are a landlord and need help with a purchase or remortgage for a buy to let property then we can help you. We have access to exclusive rates and lenders so please complete our enquiry form below. The Buy to Let Mortgage market has grown and continues to expand. It’s not just about the initial rate of the Buy to Let Mortgage and whilst this is important there are many other factors for you to consider.
POINTS TO CONSIDER WHEN COMPARING BTL MORTGAGES
- Your occupation- some lenders won’t deal with property developers;
- Income- lenders range from no minimum to £50,000;
- How many properties you own – restrictions on how many you can have with some lenders;
- Your credit record- missed payments or worse then the number of lenders reduce;
- Rent to interest cover- affects how much you can borrow;
- Type of tenants- restrictions on students, local authority etc;
- Type of property- new build, apartments;
- Interest only loans- how will it be repaid;
- Maximum term of loan- 25-40 years depending on age;
- Set up fees- Zero to 3.5% of the loan and fixed fees. Usually the higher the fee the lower the rate;
- Reverting interest rate- what you will pay after the initial period expires.
- Buy To Let mortgages are available on interest-only, full repayment or part interest and part repayment basis;
- Loan terms vary from 5-40 years;
- Age 25-80;
- Available to individuals, partnerships and Limited companies;
- Minimum property valuation £50,000;
- LTV up to 85%, but typically 75%.
Please ask us for a personalised illustration.