Buy - To - Let Mortgages
Buy to let mortgages mean just that, when you intend to purchase a property, not as your main residence but to let out to tenants as an investment.
Buy to let mortgages differ from residential mortgages and being so will require you to meet different criteria in order to secure a mortgage, examples include:
Higher Deposits: BTL's usually require a minimum of 25% deposit of the property's purchase price
Expected rental income will need to be higher than your monthly mortgage payments and usually worked out using a percentage, the standard is usually 125% of your mortgage payments.
When investing in a BTL you will need to consider that whether or not you have a paying tenant in your property, as the property owner, you will still be liable for your mortgage payments so its important to make provisions for any void periods that may occur.
Whether your a newbie investor looking to get on the landlord ladder or an experienced landlord, our team of experts will be able to advice you and provide you with the best possible solution for your circumstance.