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Buy to let mortgages

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What is a buy to let mortgage?

Securing a buy to let mortgage can present a challenge to prospective and experienced landlords, due to lender criteria changing it is important to get correct and up to date advice.

Worrall Mortgages will guide you through the whole process, whether this is your first time looking to purchase a property to rent out or whether you are an experienced landlord with a portfolio of properties, we are here to help.

Your home may be repossessed if you do not keep up repayments on your mortgage.

What you need to know...

  • A Buy to Let mortgage is for people looking to buy a property to rent out.
  • The typical deposit for a buy to let purchase is usually higher than the average residential property purchase. You will typically have to have at least a 20 to 25% deposit of the purchase price.
  • The amount you can borrow is based on the potential rental income which usually needs to cover at least 140% of the monthly interest amount for the mortgage taken.
  • Most buy to let mortgages are interest only. This means that the monthly repayments will only pay off the interest, not the amount owed on the mortgage (known as capital). Instead, the capital will be paid off in full at the end of the agreed term.

 

We have access to 1000s of buy to let mortgage products with exclusive mortgages that can only be obtained by going through a specialist broker like ourselves rather than online or through a high street bank. We will offer you a bespoke service to meet your individual needs and requirements. We can also provide you with landlord insurances to protect your property.

The Help to Buy scheme described is available in England, with different schemes in place for Scotland, Wales & Northern Ireland.

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Worrall Mortgages Ltd is an Appointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority FCA no. 1009151 Registered in England and Wales no. 14008800. Registered address 22a Main Street, Garforth, Leeds, LS25 1AA.

This information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK.

There may be a fee for mortgage advice.  The precise amount will depend on your circumstances but typically this will be £395.

Your home may be repossessed if you do not keep up repayments on your mortgage or any loan secured on it.

Conveyancing Services and Some forms of Buy to Let mortgages are not regulated by the Financial Conduct Authority.

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