We make finding buy-to-let mortgages so easy. It almost feels like you’re playing monopoly.
What is a buy-to-let mortgage?
Pretty much what it says on the tin. A mortgage that lets you buy a property then rent it out. A normal residential mortgage only lets you buy a property if you plan on living in it.
- Get quotes from 150 lenders.
- Unbiased financial advice.
- No credit check is required.
What are the benefits of buy-to-let?
There are two main benefits to investing in a buy-to-let property:
You can use the income to pay the mortgage and hopefully have some left over!
- You can buy the property and use rental income to cover expenses whilst the property increases in value. This lets you sell later at a profit.
What’s the difference between a buy-to-let mortgage & a residential one?
The key differences are:
- With Buy-to-let the amount you can borrow is based on how much rental income you can make from the property.
- Buy-to-let lenders usually require you to have a minimum salary of £25,000.
- Buy-to-let mortgages have higher interest rates there is more risk to the lender.
- Buy-to-let mortgages require higher initial deposits ( 25% to 40%).
What are the first steps to getting a buy-to-let mortgage?
Whether you’ve chosen a property or not, you should get an agreement in principle (‘AIP’). Our expert advisers can get prices from 150+ lenders & grab you an AIP with no hassle.
What’s an agreement in principle?
An agreement in principle (‘AIP’) is a written estimate from a mortgage lender, giving you an idea of how much money you can borrow. AIP’s are usually free, and some lenders can give you one in a few minutes. They’re valid for 30 to 90 days and can sometimes be renewed.
Estate agents or sellers will require proof of an AIP before you can make an official offer on a property – super important.
What do we do?
We’re a fully independent mortgage broker. Our expert advisers have bags of experience when it comes to scouting out mortgage deals. We search high and low comparing quotes & we’re not biased toward any one lender. Our focus is on finding you the best deal going.