Buy-to-Let Mortgages
If you are planning to buy a property to rent out, you will need a buy-to-let mortgage. A buy-to-let mortgage is a mortgage sold specifically to people who buy property as an investment, rather than as a place to live.
What is a BTL mortgage?
A buy-to-let mortgage is a mortgage for properties that are intended to be rented out.
A buy-to-let mortgage has very specific terms and conditions as to how the property can be used so it is important that you do not deviate from these terms.
Rental properties provide an income so it is very important that rental income is declared in to HMRC in the correct manner, this is not something we can advise you on but please ensure you make the correct arrangements.
Broker Fees for our team to find you the right mortgage, this is typically between £895 to 1% of the loan amount.
How to obtain a BTL mortgage?
BTL mortgages will require a larger deposit, typically 25% but in some cases, this can be as little as 20%.
Lenders will need to see proof of income, and some even have a minimum earnings threshold. This is to ensure any rental void periods can be covered in you are between tenants.
The property will need to be in a good start of repair and a have minimum EPC rating of an E.
BROKER FEE DISCOSURE
There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be between £895 to 1% of the loan amount.
Standard Mortgage Risk Warning
Your home may be repossessed if you do not keep up repayments on your mortgage.
BTL Risk Warning
Your home may be repossessed if you do not keep up repayments on your mortgage.
Non-Regulated Risk Statements
The Financial Conduct Authority does not regulate some forms of Buy to Lets, Wills, Trusts and Overseas Mortgages.
The Financial Conduct Authority does not regulate commercial finance, secured or unsecured loans and will writing.
The Financial Conduct Authority does not regulate secured or commercial lending.