Buy to Let - row of houses

Buy to Let Mortgages

Rent out your property in order to generate an additional stream of income

Buy to let

If you’re considering a buy to let property, we can help you to find the best buy to let mortgage possible.

Some people see their property as an altogether different type of investment; rather than live in it themselves, they’ll rent it out in order to generate an additional stream of income – which is where a buy to let mortgage comes in.

If you’re planning to rent out your property and don’t have the funds to pay for it outright, then you must get a buy to let mortgage – it’s the law. Buy to lets often attract a higher interest rate than mortgages for live-in owners, so you’ll need to take this into consideration when you work out your finances.

What else do I need to consider with a buy to let?

Good question! You’ll also need to take into account that the loan to value rates tend to differ with this type of mortgage – so you’re likely to need a bigger deposit than you would usually expect. Fees can also be higher than with other types of mortgage too.

Additionally, when trying to ascertain whether it’s a viable financial option for you, remember that you’ll have to pay tax on any income that the property generates – although you can offset any expenditure against this when it comes to doing your tax return. We can recommend a reliable accountant to help you with this if required.

It’s also worth doing your homework in regard to the area you’re thinking of buying in. Look at current rental values and speak to a letting agent if you don’t want to manage your property yourself.

Independent Advice on Buy to Lets

As Independent Mortgage Advisors, we can offer a whole market view. You can find out more about how the mortgage consultation process works here and we’re  always at the other end of the phone for additional advice or help anytime you need me.

Please give us a call on 01226 693001 or send us an email via the contact page.