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Buy to LetFind the Right Buy to Let Mortgage for You

Are you looking to buy a rental property as an investment? The buy-to-let mortgage market has been hit hard in recent years due to a tightening on lending criteria by mortgage providers, but you can still obtain a buy-to-let mortgage if you meet the lender’s eligibility criteria. Do be aware that mortgage providers are now much more cautious in their lending, and require a sizeable deposit of at least 25 percent of the value of your property before they will consider approving a buy-to-let mortgage. More info

Buy to Let Tips

  • Research the market. Do some research before you decide to buy a property. It's important to have an understanding of the property market and the predicted trends over the coming years.
  • Find a promising area. When you're looking to buy a property to let, think about buying in up and coming areas. Don't necessarily only consider the affluent areas or discount the dodgy parts of town, but think about finding a property in an area that is likely to increase in popularity due to factors including planned regeneration and improved transport links.
  • Think about who you want to rent to. Consider the type of tenant that you would ideally like to rent to (students, families, professionals), and try to find a property that is likely to be attractive to that type of person, because essentially you are not buying a property to suit your tastes and needs, but those of your target market.
  • Shop around for a mortgage. Don't take the first buy to let mortgage you're offered. Interest rates vary widely between different lenders, so it's best to get a number of quotes in order to find the one that's best for you. An independent mortgage broker will be able to search across multiple lenders to find a wide selection of products for you.

 

 

Your home may be repossessed if you are unable to keep up repayments on your mortgage.