Buy-To-Let Mortgage Advice
Buy-to-let mortgages enable you to take out a loan on one or more properties that you intend to purchase and then rent out as a business.
The amount of money you can borrow on your buy-to-let mortgage will depend on the projected rental income, but in general the criteria are stricter than with an owner-occupier purchase.
Some mortgage lenders for example may require the rent to be 30% higher than mortgage payments being made, while the maximum loan-to-value (LTV) rate is usually lower than the percentage for a residential mortgage.
As a prospective landlord, you should research the market in the area you want to buy, taking into account, demand, supply and cost of rental housing, as well as your legal obligations. As an investor, you also need to exercise caution.
Talk to a mortgage adviser for more information! You can use the form on the right for no-obligation advice.
These notes are offered as a general guide only and do not constitute legal or financial advice.
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