Buy to Let mortgages are specialist deals aimed at the growing landlord market. These mortgages typically have a maximum loan to value of 70-80% and also require the borrower to prove that the income rental will cover approximately 130% of the mortgage payments. Continued house price rises may make Buy To Let seem like easy money.
But don't kid yourself that this is a fool-proof option. Both house prices and rental income can go down as well as up. Could you afford to keep on both your main residence and a But to Let if times got tough? Think carefully about whether you are prepared to deal with the demands of tenants. You can get an agency to manage this for you, but this will eat into your profits.
Please note that the information on this web-site is intended to provide an overview of the different types of mortgage available. Nothing on this website should be construed as advice and you should not make your mortgage decision based solely on this information.
recommends you consult an independent mortgage advisor to help identify the most suitable mortgage for your needs.
If you need more information to decide which mortgage is the best for you, then check out TheRateTart Guide to Mortgages.
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