Buy To Lets

A buy-to-let mortgage is a mortgage specifically for people who buy property as an investment, rather than as a place to live. If you plan to rent out a new property, most lenders will prefer you not to finance your purchase with a standard residential mortgage.

A buy to let can be taken out in personal names or with a specially established Limited Company. Professional advice should always be taken when deciding this.

Characteristics of Buy to Let include:

  • Loan to values typically 60 – 85% of the property values
  • Typically more expensive than a residential mortgage
  • Interest-only or capital repayment options available
  • Lenders expect rental income to comfortably cover the mortgage repayment with excess for voids and maintenance
  • Fixed and variable rates available

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