Buy To Let Mortgages
What is a Buy-to-Let (BTL) Mortgage?
A Buy-to-Let mortgage is a one that is specifically designed people who use the property as an investment, rather than as a place to live.
There are two basic types:
- Consumer Buy-to-Let (BTL) mortgages, are any Buy-to-Let contracts that are not entered into by an individual ‘wholly or predominantly’ for the purpose of a business. These are only suitable for people who have become a landlord by default as opposed to making an active business decision, for example, where a property has been inherited or has been previously lived in and the individual is unable to sell it, so resorting to a Buy-to-Let arrangement.
- Business Buy-to-Let (BTL) mortgages, are for landlords who buy property specifically to rent out. They are usually more expensive than residential mortgages, but they could help you become a property investor. Buy-to-Let mortgages are only suitable for people who want to invest in houses and flats.
Find out more in our Buy-to-Let Mortgage Guide's
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Frequently Asked Questions
What is an unencumbered property?
Unencumbered property is when you own a property outright with no mortgage or loans secured against it.
What is Rent to Interest (RTI)?
RTI calculations are imposed to ensure that the rental income is more than sufficient to meet the monthly mortgage payment.
What is a buy to let Mortgage (BTL)?
A buy to let mortgage is a mortgage for purchasing residential property with the specific aim of letting it out to tenants.
What is an House in Multiple Occupation (HMO)?
An HMO is a house where multiple, unrelated tenants have exclusive access to their rooms and share common living areas, such as a kitchen or bathroom.
What is consent to let?
Consent to let is an agreement between you and your residential mortgage lender, that grants you permission to rent out your home without having to remortgage onto buy to let finance.
How many buy to let (BTL) properties I can own?
There is no limit on the amount of many BTL properties you can own. However, typically mainstream buy to let lenders limit borrowers to either a certain number of BTL mortgages or a maximum amount of borrowing. They do this to limit their exposure to risk on property.
How can I apply for a mortgage with you?
Get in touch with one of our Independent Mortgages advisers today and we will help you select the right mortgage and assist with the application. By being Independent we have access to many products offered by many different lenders, including most Banks and Building Societies.
Our initial consultation is free of charge, however long it takes. For your reassurance, we will never levy a charge unless we can demonstrate that we can benefit you in doing so.
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Independent Mortgage Advice
Being Independent means we are able to make recommendations after we have assessed your needs, based on a comprehensive and fair analysis of the relevant market. Your home may be repossessed if you do not keep up repayments on your mortgage. The Financial Conduct Authority does not regulate some forms of buy to lets, commercial mortgages, secured loans or bridging loans.