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
Incredibly helpful and informative - very fast in his communications. He had my full trust from the start. I would highly recommend working with James, he’s incredibly informed and knows his trade, and provided me with all the advice I needed, answered all my questions.
Thank you James for all you continuous help and support and helping me throughout the process !
I have had the great pleasure of working alongside Saif Hossein, a highly skilled financial consultant at embrace financial services. He has
I have had the great pleasure of working alongside Saif Hossein, a highly skilled financial consultant at embrace financial services. He has worked tirelessly to consider all factors of my financial circumstances and provided the best advice and guidance for my family and I to find a new home. He has consistently demonstrated a willingness to suggest sustainable financial solutions that enable the best future outcomes.
From the moment I reached out to Peter Row, he had taken the time to understand my unique financial situation, goals, and concerns being a first buyer and
From the moment I reached out to Peter Row, he had taken the time to understand my unique financial situation, goals, and concerns being a first buyer and being new to this environment, Peter had patiently explained every aspect of the mortgage process in clear, understandable terms, alleviating any anxieties I had about diving into the world of homeownership. and has kept me constantly updated, offering advice and help every step of the way.
I was lucky enough to be put in touch with Alison McCurley here in belfast. Alison was brilliant!! She went above and beyond what anyone would do. I’d a few properties
I was lucky enough to be put in touch with Alison McCurley here in belfast. Alison was brilliant!! She went above and beyond what anyone would do. I’d a few properties fall through and if it wasn’t for Alison I’d have given up. If your in belfast I couldn’t recommend her more.
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