Buy to let mortgages

This is a mortgage for property you want to buy and then let out, for rent.

The amount you receive over and above the mortgage payment will help cover the management and maintenance costs of the property.

Remember. you are responsible for making the mortgage payments even if you have not received the rent.

Lenders will have their own special conditions such as having a formal short term tenancy agreement and appropriate insurance.

A managing agent can deal with tenants for you and look after administration, but they can be costly Do some research before hiring one.

Many lenders will not expect your existing income to meet both commitments, but the rental income must be more than the mortgage payment (usually between 20 and 30% more), and a suitably qualified valuer may need to confirm this.

Get a free quotation on a buy to let mortgage