Personal Buy to Let Mortgages
Secure the finance to start your journey as a property landlord
If you plan on buying a property to rent out to tenants, you’ll need a buy-to-let mortgage. If you don’t intend to become a professional landlord or this is a one-off investment, a personal buy-to-let mortgage will probably be the most suitable.
Since a personal buy-to-let mortgage differs from a standard residential one, finding the right one can be a daunting prospect. Your mortgage repayments will be your greatest ongoing cost, so securing the right deal is essential to maximise your potential profit. However, many buy-to-let mortgages are intermediary-only, so your options are limited without a broker’s help.
Finding your personal buy-to-let mortgage
With our expertise and whole market access to a broad range of buy-to-let deals, we can guide you through the process and find the right deal to maximise your investment. We’ll source the most appropriate mortgage and manage all aspects of your application. With us on your side, securing the right finance for your new buy-to-let investment will be seamless and stress-free.
To start your property investment journey, get in touch for a free, no-obligation chat with a personal buy-to-let mortgage adviser.
Personal Buy to Let Mortgages FAQs
How does a buy-to-let mortgage differ from a standard mortgage?
A buy-to-let mortgage is specifically for purchasing a property you plan to rent to tenants. You can’t use a standard mortgage to buy a rental property. Buy-to-let mortgages generally require a larger deposit and have higher interest rates than a standard mortgage. Also, buy-to-let mortgages are typically interest-only, whereas standard residential mortgages are more commonly capital repayment.
Who is eligible for a personal buy-to-let mortgage?
Eligibility assessments for a personal buy-to-let mortgage are stringent. Lenders consider the potential rental income, along with your income and credit rating, when determining how much to lend.
Can I get a buy-to-let mortgage if I am a first-time buyer?
It can be trickier for a first-time buyer to obtain a buy-to-let mortgage, as lenders prefer borrowers with some property ownership experience. However, it is not impossible, especially if you have a substantial deposit and solid financial credentials.
What deposit will I need for a personal buy-to-let mortgage?
Buy-to-let mortgages generally require a larger deposit than standard residential mortgages as they are seen as riskier. Most lenders require a minimum deposit of at least 25% of the property’s purchase price. The more deposit you can put towards the property, the better. You’ll have access to more lenders and more favourable interest rates.
What are the interest rates on buy-to-let mortgages?
Interest rates vary depending on several factors, including the lender, the type of mortgage product, the loan-to-value (LTV) ratio, and market conditions. The interest rates on buy-to-let mortgages are usually higher than those on standard residential mortgages.
What fees are associated with a buy-to-let mortgage?
The costs associated with a buy-to-let mortgage include mortgage arrangement fees, valuation fees, legal fees, and sometimes broker fees. You’ll need to factor these expenses into your overall investment costs.
How long does it take to get a personal buy-to-let mortgage?
Getting a buy-to-let mortgage offer usually takes around four to six weeks.
