Buy to let mortgages
A buy to let mortgage is designed for those who want to buy property to rent out to a third party.
As with a residential mortgage you can choose between fixed, discount, and other mortgage types, however the key difference is working out how much you can borrow.
Mortgage advice
Buy to let mortgage lenders look at the likely rental income from the property as well as the applicant's annual income. Here are some good points to note when looking into a buy to let mortgage:
- Loan-to-value (LTV) is generally 60%-85% for buy to let mortgages.
- Your rental income will generally need to be around 125% of the monthly mortgage payments.
- You can expect a buy to let mortgage to be approximately 1%-2% more than a residential mortgage.
- Many landlords prefer a buy to let interest only mortgage. The lender will normally base affordability on the rental income which will generally need to be 125% more than the monthly payments.
- If you are planning to create a lettings portfolio – some lenders will place a cap on the number of properties it will mortgage.
Use the buy to let mortgage calculator to work out the required rental income that may be needed from your proposed buy to let property.
For more information or to book a mortgage appointment with our partners, Embrace Financial Services, call 0800 056 4508^ or complete the form and they'll call you back to book an appointment.
Most Buy-to-Let Mortgages are not regulated by the Financial Conduct Authority.
^ Calls may be recorded and/or monitored for training and/or data protection purposes.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Your initial mortgage appointment is without obligation. Embrace Financial Services normally charge a fee for their services; however, it is payable only on the submission of your mortgage application. The fee will depend on your circumstances but the standard fee is £549. Complex cases usually attract a higher fee. Embrace Financial Services will discuss and agree the fee with you prior to submitting any mortgage application.
Customer reviews
Assisted by Ben Godden for the second time on remortgage. As always was a pleasure to work with and really helpful.
We have had the pleasure of working with Angela from Embrace during our mortgage process and she has been absolutely brilliant! From start to
We have had the pleasure of working with Angela from Embrace during our mortgage process and she has been absolutely brilliant! From start to finish she has provided an exceptional service and expertise that made the mortgage process so much simpler for us which is what we wanted having such busy working lives.
She has a brilliant knowledge of the market and attention to detail. She took the time to explain all the options available to us, answering all our questions which made the whole experience so much easier for us.
We would highly recommend Angela to anyone in need of mortgage advice.
Thank you for all your help you've made buying our dream home possible!
Many Thanks
Natasha and Matthew
As a first time buyer I was a little scared in regards to the process. Lewis Bovingdon-Boag removed all concerns, worries and stresses and was amazing
As a first time buyer I was a little scared in regards to the process. Lewis Bovingdon-Boag removed all concerns, worries and stresses and was amazing throughout the whole process. He answered all questions quickly and in-depth and made the process seem easy and achievable. I can not recommend Lewis enough, if you are looking for a mortgage, information or help .. heβs your guy!! ππΌππΌ
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