Buy to Let Mortgages

Mortgages - The Basics

The popularity of buying additional properties as an investment continues to grow. According to the latest report by the Association of Residential Letting Agents (ARLA) almost 60% of buy-to-let investors are planning to buy another property in the next year.

Most people buying to let will need specialist advice from an expert mortgage consultant.

Lenders will generally require a minimum deposit of 15% with the loan amount available primarily being based on the expected rental income for the property. Typically the lender will want the rental income to be 125% of the monthly mortgage interest payment although there are schemes available with 100% rental coverage.

If you want to become a property investor and have sufficient equity in your property, a remortgage to raise the capital to cover the deposit, stamp duty, fees and costs is an option to consider.