Buy to Let Mortgages
What is a Buy to Let mortgage?
A Buy to Let (BTL) mortgage is a loan that allows you to purchase a property to rent out to tenants. You cannot live in the property yourself, as it is intended to be an investment.
How does a BTL mortgage work?
With a BTL mortgage, you will only pay back the interest on the loan, not the amount you have borrowed. This is known as interest-only repayment. You will need to repay the full loan amount at the end of the mortgage term.
Who can get a BTL mortgage?
The eligibility criteria for a BTL mortgage are more relaxed than for a residential mortgage. You will typically need to:
- Have a stable income of at least £25,000 per year.
- Have a deposit of at least 25% of the purchase price.
- Be able to demonstrate that the rental income from the property will be enough to cover your mortgage payments.
- Be at least 18 years old and no more than 75 years old (some lenders have no upper age limit).
What are the different types of BTL mortgages?
There are two main types of BTL mortgages:
- Interest-only mortgages: These are the most common type of BTL mortgage. You will only pay back the interest on the loan, not the amount you have borrowed.
- Repayment mortgages: With a repayment mortgage, you will pay back both the interest and the amount you have borrowed over the term of the mortgage.
What are the benefits of a BTL mortgage?
There are a number of benefits to owning a Buy to Let property, including:
- Rental income: You can generate a regular income from renting out the property.
- Capital growth: The value of the property may increase over time, giving you a profit when you sell it.
- Additional Income: You can use the rental income to offset your mortgage payments, making your investment more affordable.
- Build a Portfolio of Properties: You can build up a property portfolio over time, which can provide you with a steady stream of income in retirement.
What are the risks of a BTL mortgage?
There are also some risks associated with owning a Buy to Let property, including:
- Tenants not paying rent: If your tenants do not pay rent, you will still be responsible for making your mortgage payments.
- Property damage: Your property may be damaged by tenants or by other factors, such as fire or flooding.
- Changes in the law: The law governing Buy to Let properties can change, which could affect your investment.
- Empty Properties: You could have difficulty finding tenants, or your tenants could move out unexpectedly.
- Property Value: The value of your property could fall, leaving you with negative equity.
- Taxes to pay: You will need to pay tax on the rental income you receive.
How can I get a BTL mortgage?
To get a BTL mortgage, you will need to speak to a mortgage broker. They will be able to help you find a lender that is right for you and to compare different mortgage deals.
A BTL mortgage is a loan that allows you to buy a property to rent out to tenants. This can be a great way to make money from your property, as you can charge rent that is higher than your mortgage payments.
If you are considering investing in a BTL property, it is important to do your research and understand the risks involved.
Here are some things to consider when applying for a BTL mortgage:
- Your income: You will need to have a stable income that is sufficient to cover your mortgage payments and other expenses.
- Your age: Some lenders have age restrictions for BTL mortgages.
- The type of property you want to buy: Some lenders have restrictions on the type of property they will lend on for BTL.
- Your deposit: You will need to have a deposit of at least 25% of the purchase price.
- Your credit score: A good credit score will make you more attractive to lenders.
- The Financial Conduct Authority does not regulate some forms of Buy to Lets.
- Your property may be repossessed if you do not keep up repayments on your mortgage.
If you are a first-time landlord, you may find it more difficult to get a BTL mortgage. However, there are lenders who specialize in lending to first-time landlords.
To find out more about BTL mortgages, or to get a quote, please contact Yes Mortgage Services Limited today.
We are a friendly and experienced team of mortgage advisors who can help you find the right BTL mortgage for your needs. We will work with you to understand your circumstances and goals, and we will match you with a lender who is best placed to offer you a competitive deal.
Read some of our blogs specifically about Buy to Let
DOWNLOAD THE LATEST COPY OF OUR MORTGAGE AND PROPERTY MAGAZINE
Considering paying off your mortgage early? Here are some key things to consider:
🔹 If you have an incentivised or discounted mortgage deal, paying it off early could lead to hefty penalties.
Before making a decision, be sure to calculate if the potential interest savings outweigh the early repayment charges.
🔸 Take into account your mortgage interest rate compared to other types of borrowing.
If you have other loans or credit card debt with higher interest rates, it might be better for your overall financial health to pay those debts off first.
🔹 Ensure that it makes financial sense for your specific circumstances.
If you stand to lose a significant amount of money, it’s clearly not a good idea, regardless of how good it might sound to say that you’re mortgage-free.
We`re here to guide you through the various pitfalls involved in obtaining a mortgage, remortgaging and even paying off your mortgage.
And the best bit is... We don`t charge a broker fee!
Tap the link in our bio to learn more or call us on 0800 612 5596.
And remember to save this for later!
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
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#payoffmortgage #payoffdebt #homeownerlife #homeownertips #homeownergoals #moneytips
Considering paying off your mortgage early? Here are some key things to consider:
🔹 If you have an incentivised or discounted mortgage deal, paying it off early could lead to hefty penalties.
Before making a decision, be sure to calculate if the potential interest savings outweigh the early repayment charges.
🔸 Take into account your mortgage interest rate compared to other types of borrowing.
If you have other loans or credit card debt with higher interest rates, it might be better for your overall financial health to pay those debts off first.
🔹 Ensure that it makes financial sense for your specific circumstances.
If you stand to lose a significant amount of money, it’s clearly not a good idea, regardless of how good it might sound to say that you’re mortgage-free.
We`re here to guide you through the various pitfalls involved in obtaining a mortgage, remortgaging and even paying off your mortgage.
And the best bit is... We don`t charge a broker fee!
Tap the link in our bio to learn more or call us on 0800 612 5596.
And remember to save this for later!
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#payoffmortgage #payoffdebt #homeownerlife #homeownertips #homeownergoals #moneytips
Being a small team that really loves helping people buy, remortgage, and protect their homes, we couldn`t be more proud to be rated 5 stars on Trustindex! 🌟 With over 230 reviews from happy clients, it just goes to show the care and expert knowledge our team put into their work.
And the best bit? We don`t charge a broker fee!
Tap the link in our bio to learn more, or give us a call on 0800 612 5596 to arrange a chat.
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#mortgageadvisor #nobrokerfee #dorset #mortgagesmadesimple #dorsetbusiness #ukpropertymarket
Being a small team that really loves helping people buy, remortgage, and protect their homes, we couldn`t be more proud to be rated 5 stars on Trustindex! 🌟 With over 230 reviews from happy clients, it just goes to show the care and expert knowledge our team put into their work.
And the best bit? We don`t charge a broker fee!
Tap the link in our bio to learn more, or give us a call on 0800 612 5596 to arrange a chat.
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#mortgageadvisor #nobrokerfee #dorset #mortgagesmadesimple #dorsetbusiness #ukpropertymarket
It`s no secret that improving your home is a great way to increase it`s value, and the benefits extend beyond the indoors.
By transforming your outdoor space, you will add value and create an inviting oasis for entertaining and unwinding.
Need to free up some cash to bring your dream space to life? A remortgage could be the solution!
Get in touch and we`ll evaluate your situation and help you make informed decisions on the remortgage options available to you.
And did we mention - we don`t charge a broker fee!
Send us a DM or call us on 0800 612 5596 to chat with one of our mortgage advisors.
...
#loveproperty #houseowner #homeownerlife #homeownertips #homeimprovement #loveyourhome #moneymanagementtips
It`s no secret that improving your home is a great way to increase it`s value, and the benefits extend beyond the indoors.
By transforming your outdoor space, you will add value and create an inviting oasis for entertaining and unwinding.
Need to free up some cash to bring your dream space to life? A remortgage could be the solution!
Get in touch and we`ll evaluate your situation and help you make informed decisions on the remortgage options available to you.
And did we mention - we don`t charge a broker fee!
Send us a DM or call us on 0800 612 5596 to chat with one of our mortgage advisors.
...
#loveproperty #houseowner #homeownerlife #homeownertips #homeimprovement #loveyourhome #moneymanagementtips
Getting a mortgage on a non-standard property may involve higher interest rates or larger deposit requirements, but with careful planning and expert help, your homeownership dreams can become reality!
Our team of experts are on hand to connect you with accommodating lenders and help negotiate favourable terms. Click the link in our bio to learn more.
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#nonstandardconstruction #thatchedroof #gradeii #thatchedcottage #housebuying #mortgagetips #ukmortgages #mortgagespecialists
Getting a mortgage on a non-standard property may involve higher interest rates or larger deposit requirements, but with careful planning and expert help, your homeownership dreams can become reality!
Our team of experts are on hand to connect you with accommodating lenders and help negotiate favourable terms. Click the link in our bio to learn more.
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#nonstandardconstruction #thatchedroof #gradeii #thatchedcottage #housebuying #mortgagetips #ukmortgages #mortgagespecialists
There`s no one-size-fits-all calculation to determine how much you can borrow. It depends on several factors:
👉 The cost of the property you`re looking to purchase.
👉 The size of your deposit.
👉 Your income and financial affordability, which considers your monthly commitments and any future obligations.
These factors, combined, will determine your eligibility and help shape the amount you can borrow.
We know navigating the mortgage process can be overwhelming, but we`re here to lend a hand. Our friendly advisors can help you understand your eligibility and guide you towards making informed decisions about your mortgage.
Our advice to you is FREE, so get in touch for a chat - call us on 0800 612 5596 or visit our website to learn more.
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#buyingahouse #mortgageadvice #mortgagetips #mortgagebroker #firsttimebuyertips
There`s no one-size-fits-all calculation to determine how much you can borrow. It depends on several factors:
👉 The cost of the property you`re looking to purchase.
👉 The size of your deposit.
👉 Your income and financial affordability, which considers your monthly commitments and any future obligations.
These factors, combined, will determine your eligibility and help shape the amount you can borrow.
We know navigating the mortgage process can be overwhelming, but we`re here to lend a hand. Our friendly advisors can help you understand your eligibility and guide you towards making informed decisions about your mortgage.
Our advice to you is FREE, so get in touch for a chat - call us on 0800 612 5596 or visit our website to learn more.
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#buyingahouse #mortgageadvice #mortgagetips #mortgagebroker #firsttimebuyertips
We`ll NEVER charge you a broker fee!
As a company, we believe everyone should have access to quality financial advice, regardless of their financial status 🤝
Visit our website to learn how we can help you find the right mortgage for your needs (🔗 in bio)
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#wellingtonsomerset #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee
We`ll NEVER charge you a broker fee!
As a company, we believe everyone should have access to quality financial advice, regardless of their financial status 🤝
Visit our website to learn how we can help you find the right mortgage for your needs (🔗 in bio)
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#wellingtonsomerset #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee
There are so many types of insurance out there 🤯 It can be hard to know what type of protection is needed for you and your family. But we`re here to help.
Here`s how it works:
1. We`ll have a chat to really get a good idea of who you are, your lifestyle, your dependants and your plans.
2. We`ll analyse the information you`ve given us to determine the kind of policies suitable for you.
3. We`ll search all the available protection policies from the UK’s top insurers and make a shortlist of those that provide the right cover for your needs.
4. We`ll guide you through the shortlist and answer any questions you might have. If you want to proceed, we`ll deal with the insurers on your behalf to get your policies in place.
Check out the link in our bio for more information, or call us on 0800 612 5596 for a chat.
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
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#insurancebroker #homeinsurance #lifeinsurance #contentsinsurance #incomeprotection #criticalillnesscover #buildingsinsurance
There are so many types of insurance out there 🤯 It can be hard to know what type of protection is needed for you and your family. But we`re here to help.
Here`s how it works:
1. We`ll have a chat to really get a good idea of who you are, your lifestyle, your dependants and your plans.
2. We`ll analyse the information you`ve given us to determine the kind of policies suitable for you.
3. We`ll search all the available protection policies from the UK’s top insurers and make a shortlist of those that provide the right cover for your needs.
4. We`ll guide you through the shortlist and answer any questions you might have. If you want to proceed, we`ll deal with the insurers on your behalf to get your policies in place.
Check out the link in our bio for more information, or call us on 0800 612 5596 for a chat.
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#insurancebroker #homeinsurance #lifeinsurance #contentsinsurance #incomeprotection #criticalillnesscover #buildingsinsurance
Let`s dive into some of the benefits of switching to a new mortgage:
👉🏻 Remortgaging can allow you to take out a new loan with lower monthly repayments, reducing your outgoings and making your home 🏡 more affordable.
👉🏻 Remortgaging might mean you find a loan you could pay off more quickly ⏱, through making larger monthly repayments.
👉🏻 If your home has increased considerably in value since you took out your original mortgage 💰, you could now be enjoying a lower rate of interest.
👉🏻 If you need to borrow money for, say, home improvements 🔨or to buy a new car 🚘, or you’d like to consolidate your loans, remortgaging can allow you to do it.
Our Mortgage Advisors can evaluate your unique situation, helping you to make an informed decision on costs and savings. We`ll do the paperwork for you and we`ll be there to decipher the jargon and answer any questions you might have.
Oh and did we mention we don`t charge a broker fee! 🤩
Send us a DM or call us on 0800 612 5596 to chat to one of our mortgage advisors.
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#homeownerlife #homeownertips #mortgageuk #mortgageadvice #mortgageexperts #mortgagetips
Let`s dive into some of the benefits of switching to a new mortgage:
👉🏻 Remortgaging can allow you to take out a new loan with lower monthly repayments, reducing your outgoings and making your home 🏡 more affordable.
👉🏻 Remortgaging might mean you find a loan you could pay off more quickly ⏱, through making larger monthly repayments.
👉🏻 If your home has increased considerably in value since you took out your original mortgage 💰, you could now be enjoying a lower rate of interest.
👉🏻 If you need to borrow money for, say, home improvements 🔨or to buy a new car 🚘, or you’d like to consolidate your loans, remortgaging can allow you to do it.
Our Mortgage Advisors can evaluate your unique situation, helping you to make an informed decision on costs and savings. We`ll do the paperwork for you and we`ll be there to decipher the jargon and answer any questions you might have.
Oh and did we mention we don`t charge a broker fee! 🤩
Send us a DM or call us on 0800 612 5596 to chat to one of our mortgage advisors.
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#homeownerlife #homeownertips #mortgageuk #mortgageadvice #mortgageexperts #mortgagetips
Our expert team have access to a comprehensive panel of lenders, ensuring we find the right mortgage solution tailored to your needs.
We`ll guide you every step of the way, answering your questions and making the process as painless as possible. But don`t just take our word for it, here`s what Bella had to say:
"The service Andy provided was flawless. Andy is super efficient, extremely knowledgeable & personable. He was always available to answer any questions I had throughout the process & helped me get the best mortgage possible allowing me to buy my new home.
Thank you so much Andy for all your help, advice & support."
Want to see more? Tap the link in our bio.
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#mortgageadvisor #nobrokerfee #dorset #dorsetbusiness #ukmortgages #mortgagespecialists
Our expert team have access to a comprehensive panel of lenders, ensuring we find the right mortgage solution tailored to your needs.
We`ll guide you every step of the way, answering your questions and making the process as painless as possible. But don`t just take our word for it, here`s what Bella had to say:
"The service Andy provided was flawless. Andy is super efficient, extremely knowledgeable & personable. He was always available to answer any questions I had throughout the process & helped me get the best mortgage possible allowing me to buy my new home.
Thank you so much Andy for all your help, advice & support."
Want to see more? Tap the link in our bio.
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#mortgageadvisor #nobrokerfee #dorset #dorsetbusiness #ukmortgages #mortgagespecialists
Upsizing can be expensive, so it`s crucial to know your budget and what kind of property you can actually afford.
When it comes to mortgages, it may be tempting to stick with your current lender, but it`s wise to explore your options. Because shopping around can pay off big time!
Even a mortgage with slightly better terms could save you thousands down the road or provide you with more flexible and affordable ways to pay it off ahead of time.
If you`d like to discuss your mortgage options with one of our experts, give us a call on 0800 612 5596. We don`t charge a broker fee!
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#upsizing #movinghome #devonproperty #savingmoney #mortgagebroker
Upsizing can be expensive, so it`s crucial to know your budget and what kind of property you can actually afford.
When it comes to mortgages, it may be tempting to stick with your current lender, but it`s wise to explore your options. Because shopping around can pay off big time!
Even a mortgage with slightly better terms could save you thousands down the road or provide you with more flexible and affordable ways to pay it off ahead of time.
If you`d like to discuss your mortgage options with one of our experts, give us a call on 0800 612 5596. We don`t charge a broker fee!
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#upsizing #movinghome #devonproperty #savingmoney #mortgagebroker
Just look at those smiley faces! We love keeping our fingers on the pulse, and last month was no exception.
Our compliance company runs conferences and roadshows that allow us to meet with lenders and stay up to date on all things mortgages. It enables us to continue being experts in helping you find the right mortgage for you!
Because our team`s scattered across the South West some went to Southampton and some to Bristol. Here`s Kelly, Michael and Ashley enjoying the Southampton roadshow!
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#southampton #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #hlpartnership #nobrokerfee
Just look at those smiley faces! We love keeping our fingers on the pulse, and last month was no exception.
Our compliance company runs conferences and roadshows that allow us to meet with lenders and stay up to date on all things mortgages. It enables us to continue being experts in helping you find the right mortgage for you!
Because our team`s scattered across the South West some went to Southampton and some to Bristol. Here`s Kelly, Michael and Ashley enjoying the Southampton roadshow!
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#southampton #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #hlpartnership #nobrokerfee
🏡 Ready to build your dream home? You`ll need a self-build mortgage that`s right for you...
With most self-build mortgages, the money is paid out after each stage of completion. But did you know that some self-build mortgages release the money required at the start of each stage?
This is particularly useful if you don`t have the cash up front to pay your builders or buy materials.
Interest rates on self-build mortgages tend to be higher than on standard mortgages, so it`s important to shop around before you decide which mortgage is right for you.
Let us help you find the right self-build mortgage to make your dream home a reality!
Send us a message, or give us a call on 0800 612 5596
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#selfbuildjourney #buildingourhome #buildingahouse #selfbuildhomes #housegoals #selfbuilduk #newbuildjourney #mortgagebroker #mortgagetips #southcoastuk
🏡 Ready to build your dream home? You`ll need a self-build mortgage that`s right for you...
With most self-build mortgages, the money is paid out after each stage of completion. But did you know that some self-build mortgages release the money required at the start of each stage?
This is particularly useful if you don`t have the cash up front to pay your builders or buy materials.
Interest rates on self-build mortgages tend to be higher than on standard mortgages, so it`s important to shop around before you decide which mortgage is right for you.
Let us help you find the right self-build mortgage to make your dream home a reality!
Send us a message, or give us a call on 0800 612 5596
...
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.
...
#selfbuildjourney #buildingourhome #buildingahouse #selfbuildhomes #housegoals #selfbuilduk #newbuildjourney #mortgagebroker #mortgagetips #southcoastuk
