The most common question is What percentage deposit do I need for a buy to let mortgage?

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Typically, lenders like 25% of the purchase price, but you can have as little as 15%. However, there are very few products available and the rate you will pay will be high. If you are new to buy to let, you may not even qualify for these high loan to value products.

The maximum you can borrow is linked to the amount of rental income you expect to receive. We can source competitive deals with the expertise in order to maximise your buy to let investment.

A buy-to-let mortgage works like ordinary mortgage, but with some key differences most buy to let mortgages are interest only, which means you don’t pay anything off the lump sum borrowed each month but, of course, at the end of the mortgage term you repay the capital in full.

As with ordinary mortgages, you choose between a fixed rate or tracker rate mortgage. Trackers are normally a bit cheaper, but you are taking a bit more risk as your monthly payments could increase in interest rates rise. If you are worried that the base rate will increase soon, and you might not be able to afford the increase in monthly payments, it’s best to fix.

Bear in mind that buy-to-let arrangement fees can be very high, which makes it expensive to keep re-mortgaging to a cheaper interest rate. So you could choose a longer term deal such as five years  instead of two years if you’re confident you won’t need to sell the property in that time.

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