Buy to Let Mortgage

Ever fancied becoming a landlord and letting property? Property development can be very rewarding, though there are ways and means around getting a great deal. A buy to let mortgage is often a great way of taking advantage of competitive interest rates and repayment options to suit your portfolio.

If it’s your first foray into becoming a landlord, you should consider looking at your options with a local, flexible advisor who can help you find the best possible options available in the surrounding areas.

You’ll need to consider whether this type of mortgage is right for you and what you want to do with a property. After all, becoming a landlord is a long term commitment! It can reap serious financial dividends in the long run, but there are going to be a number of laws and regulations you’ll need to get your head around.

With the help of a nearby advisor or team of experts, you’ll soon be able to negotiate the red tape and find out whether or not there are any deals which fit your current finances and your long term plans.

Buy to Let Mortgage Deals

Buy-to-let mortgage deals can be compared online and entered into at your leisure. However, without the backing of an experienced advisor near me, you may be at risk of entering into a deal which doesn’t represent your interests in the long run.

To avoid getting tied into a BTL mortgage that doesn’t work for you, you should always be willing to reach out for help and advice from seasoned experts.

With all of this in mind, what can affect the BTL mortgage rates you may be able to receive? There are a number of factors which will be taken into account during a property search and during extensive applications.

Factors which can come into play include:

The amount you are able to put down as a deposit
The amount you are willing to borrow, or the amount you can borrow – is it considered high-risk?
Your current credit score – this is always used as a good indicator for lenders as it gives them confidence that you’ll be able to pay what you owe
Mortgage types and products available

This is only really the tip of the iceberg. There are over 150 different laws and pieces of legislation which can affect your ability to take on a BTL mortgage, and which can affect your ability to let to tenants.

Therefore, it makes sense to get as prepared as you can before you start putting any money down, and before you start getting into any specific deals or negotiations. Don’t worry – we will always make sure you are fully prepared each step of the way.

Buy to Let Mortgage Calculator

Using a BTL mortgage calculator is a great idea. After all, there are going to be several financial factors to bear in mind on your way to becoming a landlord. You'll need to consider the value of your property, how much money you are willing to put into its development, how much you can pay as a deposit, and how much you can or should be charging in terms of rent.

Ideally, you should be looking at a reasonable rental yield of about 4-5% of your property value – but that isn't to say this will fit all circumstances and property profiles!

We are the closest support network many landlords have when it comes to setting up a buy-to-let mortgage for the first time. We help to support prospective landlords with a wide range of options.

While your personal and financial circumstances may affect the deals which become available to you, we always make sure to narrow down the search to deals which comfortably work for our customers long term.

We always have the future in mind – and you should, too!

Buy to Rent Mortgage

A buy to rent mortgage can arrive in one of several forms. These may include:

An interest-only deal, where you only have to pay back applicable interest, and not the capital borrowed. This means your monthly expenditure will be less, but when you sell the property, you’ll have to pay the whole of the outstanding loan.
A repayment scheme, where you simply pay the mortgage rate and the interest. This works much in the same vein as a typical mortgage would.
A fixed rate home loan makes sure your monthly payments don’t change for a set term. However, these rates may often be higher than variable tariffs.
Variable mortgages come in many forms, but they are worth bearing in mind. While they may start low, interest rates could bump prices up when you least expect it. Take caution!

Best Buy to Let Mortgage Deals

The best buy to let mortgage deals aren’t necessarily those which are widely available to compare online. With the assistance of a nearby home loan advisor or expert, you will be able to narrow down the market and see what BTL deals are best for you.

We always recommend that you seek support from a qualified expert who will be able to help you narrow down the market.

Finding a buy-to-let mortgage deal which can help you reap dividends from future rent isn’t always easy. There are going to be financial plates which you’ll need to keep spinning!

Therefore, do always keep an open mind and take your time when it comes to surveying the market. We’re here to help!

Buy to Let Mortgage Comparison

Tried BTL mortgage comparison sites? Coming up short? Get in touch with a local advisor who can offer you specialist knowledge and care based on your exact needs and projected dividends. Fill in our contact form to set up a consultation at your convenience.

The road towards becoming a successful landlord starts with finding the best BTL home loan so get in touch now!