Are you planning on developing a new revenue stream as a landlord? If so, the buy to let calculator will help you to work out the extent of the financial commitment you are taking on. Enter the buy to let mortgage loan amount that you need in order to buy the property, then enter the interest rate that you have been quoted by the lender. The next step is to enter the total length of the mortgage term. The calculator will then give you the total repayment that you should expect each month.
Please note that for an accurate representation of your monthly repayments, you should enter the APR (annual percentage rate of change) rather than the initial interest rate on the loan. The reason for this is that the APR takes into consideration all the additional charges and fees that you are likely to encounter with a buy to let mortgage, such as the early repayment fees and the mortgage arrangement fee. If you use only the interest rate, you are in danger of underestimating the monthly repayments and failing to budget correctly.
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