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
Life can get pretty busy, so we offer out-of-hours appointments that work for you. Whether it`s an evening or a weekend, in person or over the phone, we`re here when you need us.
Tap 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.
...
#wellingtonsomerset #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee
Life can get pretty busy, so we offer out-of-hours appointments that work for you. Whether it`s an evening or a weekend, in person or over the phone, we`re here when you need us.
Tap 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.
...
#wellingtonsomerset #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee
Although a mortgage is a long-term financial commitment, you don’t have to stay with the same product or lender for the whole term.
In fact, you should regularly review your mortgage, making sure it`s still suitable for your needs and the rate remains competitive.
We can help you assess whether things have changed since you took your original mortgage or are likely to change in the future. And offer advice on the suitability of your current mortgage.
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
Although a mortgage is a long-term financial commitment, you don’t have to stay with the same product or lender for the whole term.
In fact, you should regularly review your mortgage, making sure it`s still suitable for your needs and the rate remains competitive.
We can help you assess whether things have changed since you took your original mortgage or are likely to change in the future. And offer advice on the suitability of your current mortgage.
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
While contents insurance might offer some protection for items away from home, it`s usually limited and doesn`t cover all losses.
That`s where Personal Possessions Insurance comes in - typically offering full-value protection for things like phones, laptops, headphones, and cameras, no matter where you are.
Unsure what your current policy covers? Give Kelly, our insurance advisor, a call. She`ll review your policy and make sure you`re fully protected. And if you need additional coverage, she`ll help you find the right fit for your needs.
...
#personalpossessionsinsurance #contentsinsurance #homeownerhacks #insurancetips #insurancebroker #dorsetlife
While contents insurance might offer some protection for items away from home, it`s usually limited and doesn`t cover all losses.
That`s where Personal Possessions Insurance comes in - typically offering full-value protection for things like phones, laptops, headphones, and cameras, no matter where you are.
Unsure what your current policy covers? Give Kelly, our insurance advisor, a call. She`ll review your policy and make sure you`re fully protected. And if you need additional coverage, she`ll help you find the right fit for your needs.
...
#personalpossessionsinsurance #contentsinsurance #homeownerhacks #insurancetips #insurancebroker #dorsetlife
Meet Andrew (a.k.a. The Boss)
With a 25-year career in the British Army, Andrew launched YES Mortgage Services in 2014.
No stranger to the beautiful South Coast, Andrew bought his first house in Bovington and has called it home ever since. Now, he`s helping others get onto the property ladder from our Main Office in Mannington!
When he`s not hard at work, Andrew is a family man – happily married to Amanda and proud father of James and Jacob.
Their weekends are filled with exciting family adventures and cheering on their favourite rugby teams. As a die-hard fan, Andrew eagerly awaits the Army v Navy match every year!
With his extensive knowledge and passion for all things mortgage, Andrew helps make the process stress-free and easy to understand.
Meet the rest of our team via 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.
...
#bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee
Meet Andrew (a.k.a. The Boss)
With a 25-year career in the British Army, Andrew launched YES Mortgage Services in 2014.
No stranger to the beautiful South Coast, Andrew bought his first house in Bovington and has called it home ever since. Now, he`s helping others get onto the property ladder from our Main Office in Mannington!
When he`s not hard at work, Andrew is a family man – happily married to Amanda and proud father of James and Jacob.
Their weekends are filled with exciting family adventures and cheering on their favourite rugby teams. As a die-hard fan, Andrew eagerly awaits the Army v Navy match every year!
With his extensive knowledge and passion for all things mortgage, Andrew helps make the process stress-free and easy to understand.
Meet the rest of our team via 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.
...
#bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee
More and more investors are deciding to buy properties within a Limited Company to keep things tax efficient.
But when it comes to refinancing or purchasing a new investment property, the process of getting a mortgage can feel challenging.
But not anymore!
Our Specialist Mortgage Advisors know which Mortgage Lenders are used to working with Limited Company Buy to Let portfolios. They`ll find you the most suitable deal and save you time and money by managing your mortgage application from start to finish.
Visit our website to learn more (🔗 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.
Before pursuing Limited Company Buy To Let we recommend you seek advice from a tax expert.
...
#buytolet #mortgageadvice #mortgagebroker #propertyinvestment #limitedcompanybuytolet #propertyinvesting #buytoletmortgage
More and more investors are deciding to buy properties within a Limited Company to keep things tax efficient.
But when it comes to refinancing or purchasing a new investment property, the process of getting a mortgage can feel challenging.
But not anymore!
Our Specialist Mortgage Advisors know which Mortgage Lenders are used to working with Limited Company Buy to Let portfolios. They`ll find you the most suitable deal and save you time and money by managing your mortgage application from start to finish.
Visit our website to learn more (🔗 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.
Before pursuing Limited Company Buy To Let we recommend you seek advice from a tax expert.
...
#buytolet #mortgageadvice #mortgagebroker #propertyinvestment #limitedcompanybuytolet #propertyinvesting #buytoletmortgage
All lenders have different forms of acceptable income.
Your salary is an obvious form of income. But there are some lenders who will accept alternative forms of income and not just your salary, things like;
👉 Zero hours contacts
👉 Foster parent income
👉 Rental income
👉 DWP income & allowances
👉 Irregular commission
👉 Bonuses & shift allowances
By discussing your whole situation and income with one of our Mortgage Advisors, we can explain which lenders are most likely to accept your income.
Give us a call on 0800 612 5596 or tap 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.
...
#buyingahouse #homebuyersguide #moneyeducation #housebuying #mortgagetips #mortgageadvice
All lenders have different forms of acceptable income.
Your salary is an obvious form of income. But there are some lenders who will accept alternative forms of income and not just your salary, things like;
👉 Zero hours contacts
👉 Foster parent income
👉 Rental income
👉 DWP income & allowances
👉 Irregular commission
👉 Bonuses & shift allowances
By discussing your whole situation and income with one of our Mortgage Advisors, we can explain which lenders are most likely to accept your income.
Give us a call on 0800 612 5596 or tap 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.
...
#buyingahouse #homebuyersguide #moneyeducation #housebuying #mortgagetips #mortgageadvice
Tired of trawling through mortgage deals?
Let us guide you through your options and help you find the right mortgage for your needs.
We have access to a comprehensive panel of lenders to ensure we research the most suitable mortgage solution for your situation.
And we`ll be by your side every step of the way, from understanding your financial situation to guiding you through the mortgage application process.
The best bit? We don`t charge a broker fee!
Get in touch for a chat on 0800 612 5596 or tap 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.
...
#mortgageadvisor #nobrokerfee #dorset #dorsetbusiness #ukmortgages #mortgagespecialists
Tired of trawling through mortgage deals?
Let us guide you through your options and help you find the right mortgage for your needs.
We have access to a comprehensive panel of lenders to ensure we research the most suitable mortgage solution for your situation.
And we`ll be by your side every step of the way, from understanding your financial situation to guiding you through the mortgage application process.
The best bit? We don`t charge a broker fee!
Get in touch for a chat on 0800 612 5596 or tap 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.
...
#mortgageadvisor #nobrokerfee #dorset #dorsetbusiness #ukmortgages #mortgagespecialists
To move or not to move? That is the question!
Making the decision to move home is a personal one and depends on your unique circumstances. But here are some things to consider when weighing the pros and cons:
✅ A fresh start - If you’re feeling stuck in a rut or just need a change of scenery, moving home can be the perfect way to start over.
✅ Closer to loved-ones - If you’re moving to be closer to family or friends, it can make the transition much easier.
✅ More space - If you’re cramped for space in your current home, moving to a bigger property can be a great solution.
❌ Cost of moving - Moving home can be an expensive process, especially if you’re hiring professional help to do the heavy lifting.
❌ Packing and unpacking - If you’re not prepared for the amount of work involved, it can be very overwhelming.
❌ Adjusting to a new home - Adjusting to a new home can be difficult, especially if you’re used to your current surroundings.
...
#movinghouse #buyingahouse #letsbuyahouse #housemove #newhome #housebuyingtips #movinghomes
To move or not to move? That is the question!
Making the decision to move home is a personal one and depends on your unique circumstances. But here are some things to consider when weighing the pros and cons:
✅ A fresh start - If you’re feeling stuck in a rut or just need a change of scenery, moving home can be the perfect way to start over.
✅ Closer to loved-ones - If you’re moving to be closer to family or friends, it can make the transition much easier.
✅ More space - If you’re cramped for space in your current home, moving to a bigger property can be a great solution.
❌ Cost of moving - Moving home can be an expensive process, especially if you’re hiring professional help to do the heavy lifting.
❌ Packing and unpacking - If you’re not prepared for the amount of work involved, it can be very overwhelming.
❌ Adjusting to a new home - Adjusting to a new home can be difficult, especially if you’re used to your current surroundings.
...
#movinghouse #buyingahouse #letsbuyahouse #housemove #newhome #housebuyingtips #movinghomes
If you’re self-employed and looking to get a mortgage, there`s a few things you should take into account.
👉 Lenders will typically require proof of income and tax returns for the past three years in order to assess your affordability.
👉 They will also ask for additional information, such as bank statements and invoices.
👉 As a self-employed borrower, you may be considered a higher risk by lenders, so it’s worth shopping around to find a deal that’s right for you.
We`re here to help you navigate the self-employed mortgage process. Give us a call on 0800 612 5596 to arrange a chat.
We are available outside usual working hours, and 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.
...
#selfemployedmortgages #selfemployed #bournemouthbusiness #smallbusiness #mortgagetips #mortgagesuk
If you’re self-employed and looking to get a mortgage, there`s a few things you should take into account.
👉 Lenders will typically require proof of income and tax returns for the past three years in order to assess your affordability.
👉 They will also ask for additional information, such as bank statements and invoices.
👉 As a self-employed borrower, you may be considered a higher risk by lenders, so it’s worth shopping around to find a deal that’s right for you.
We`re here to help you navigate the self-employed mortgage process. Give us a call on 0800 612 5596 to arrange a chat.
We are available outside usual working hours, and 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.
...
#selfemployedmortgages #selfemployed #bournemouthbusiness #smallbusiness #mortgagetips #mortgagesuk
"I`d heard about Yes Mortgages via word of mouth and hadn`t heard a bad word word, now I know I why."
Maybe you’re looking to buy your first home. Or refinance the one you’re already in 🏡. No matter your situation, our personal goal is to see that it ends with you getting the loan you need when you need it. At the rate you deserve. And with a level of care beyond anything you expect 🌟
Tap 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.
...
#bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee
"I`d heard about Yes Mortgages via word of mouth and hadn`t heard a bad word word, now I know I why."
Maybe you’re looking to buy your first home. Or refinance the one you’re already in 🏡. No matter your situation, our personal goal is to see that it ends with you getting the loan you need when you need it. At the rate you deserve. And with a level of care beyond anything you expect 🌟
Tap 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.
...
#bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee
What`s the best mortgage? How much can I borrow? What deposit will I need? 🤯 It can all get a bit much.
But our mortgage advisors are here to guide you every step of the way, cut through the jargon and answer any questions you may have (even the ones you think might be silly).
We don`t charge a broker fee, so get in touch for a chat - call us on 0800 612 5596 or send a DM
...
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.
...
#firsthometogether #firsttimehomebuyertips #firstimebuyer #firsttimebuyersuk #househunters #letsbuyahouse
What`s the best mortgage? How much can I borrow? What deposit will I need? 🤯 It can all get a bit much.
But our mortgage advisors are here to guide you every step of the way, cut through the jargon and answer any questions you may have (even the ones you think might be silly).
We don`t charge a broker fee, so get in touch for a chat - call us on 0800 612 5596 or send a DM
...
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.
...
#firsthometogether #firsttimehomebuyertips #firstimebuyer #firsttimebuyersuk #househunters #letsbuyahouse
Big changes in your life, planned or unexpected, could mean that your current mortgage no longer suits your needs.
But with so many lenders out there, it can be overwhelming to navigate the varying interest rates, terms, and fees 🤯
Well, we`re here to do the legwork for you...
We`ll compare different offers and find the most suitable mortgage deals for your situation and be there to guide you through every step until completion.
The best bit? We don`t charge a broker fee!
Call us for a chat on 0800 612 5596, or visit our website for more info (link 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.
...
#homeownerlife #homeownertips #mortgageuk #mortgageadvice #mortgageexperts #westcountry
Big changes in your life, planned or unexpected, could mean that your current mortgage no longer suits your needs.
But with so many lenders out there, it can be overwhelming to navigate the varying interest rates, terms, and fees 🤯
Well, we`re here to do the legwork for you...
We`ll compare different offers and find the most suitable mortgage deals for your situation and be there to guide you through every step until completion.
The best bit? We don`t charge a broker fee!
Call us for a chat on 0800 612 5596, or visit our website for more info (link 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.
...
#homeownerlife #homeownertips #mortgageuk #mortgageadvice #mortgageexperts #westcountry
