BUY TO LET MORTGAGE

We specialise in buy to let mortgages and can match you to the right lenders (as requirements for getting a BTL mortgage vary by lender).  We also handle the process from start to finish saving you time, money and effort. Speak to our advisers on 03332070522 or request a call back today.

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Your home may be repossessed if you do not keep up repayments on your mortgage.

A buy to let mortgage - what you need to know:

A buy to let mortgage is for properties that you are already or intending to let out and typically fulfill the below criteria:

  • You want to invest in houses or flats
  • You already own your own home, whether outright or with an outstanding mortgage.
  • You have a good credit record and are not too stretched on your other borrowings, e.g credit cards
  • You earn £25,000+ a year.
  • You are under a certain age. Lenders have upper age limits, which are typically between 70 and 75 - that is the age you need to be within when the mortgage ends.

Read our guides on buy to let properties here.

 

Key differences between a buy to let and a residential mortgage:

The fees for a buy to let mortgage tend to be higher than residential mortgages, as are interest rates.

The minimum deposit for a buy to let mortgage is usually 25% of the property's value although it can be higher). A lot of buy to let mortgages can also be interest only. 

If you are relying on the rent to pay for the buy to let mortgage (and a lot of landlords do), it would pay to ensure that you have a plan for periods there are no tenants in the property. You also need to take into account damages to your property or fixing things which could break (like the boiler in winter). There are specialist Landlord Insurance policies that take care of various aspects of letting out a property. Find out about the different kinds of Landlord Insurance and what they cover here.

Most buy to let mortgage lending is not regulated by the Financial Conduct Authority (FCA). There are exceptions, e.g if you would like to let the property out to a close family member - these are referred to as consumer buy to let mortgages are are subject to the same strict affordability rules as a residential mortgage.

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Buy to let

How does remortgaging work?

Remortgaging means changing your current mortgage deal whilst you remain in the same property.

Should I remortgage?

You can remortgage at any time but it is not worth doing just to switch lender.

What information do I need for my mortgage?

You can remortgage for a variety of reasons such as securing a lower interest rate, consolidating debt or raising capital for home improvements.

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Speak to the experts

Mortgage Wise advisers are on hand to speak to you today. Whether you’re looking for a face-to-face appointment or a quick chat on the telephone, we are here to provide the mortgage broker advice you need for your next mortgage.

Let us handle everything

From application to liaising with lenders, solicitors and estate agents - we handle it all.
Our dedicated processing team to ensure your application is handled smoothly until the day you complete.

We provide a lifetime service

We’ve built our reputation on long lasting relationships with our clients. You will recieve regular contact from us beyond your initial application. When it’s time to remortgage, we will be in touch to discuss your options. Let Mortgage Wise take the hassle out of managing your mortgage.

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The right remortgage for you in just three steps!

Compare the market

Call us or send an enquiry to get the ball rolling.

Complete your application

Our experts will handle all of the admin.

Let us do the hard work

We will chase everything for you and keep you updated until completion.

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Speak to our expert advisers today for assistance

We’ve built our reputation on long lasting relationships with our clients. You will recieve regular contact from us beyond your initial application. When it’s time to remortgage, we will be in touch to discuss your options. Let Mortgage Wise take the hassle out of managing your mortgage.

Call us for mortgage advice:
0333 207 0522