• Credit Cards
• Personal Loans
• Mortgages
• Bank Accounts
• Savings Accounts

Buy To Let Mortgage

Not everyone buys a home to live in themselves. For many people property is an investment that they hope will make money for them. By buying a property and then letting it out investors hope to cover their mortgage repayments with rent and in effect let their tenants pay for the property. Read more...>

* Indicates required fields.

 In some cases the property may even generate a regular income on top of the repayments. Additionally if house prices rise dramatically the equity in the property also rises.

If you are taking out a mortgage for a property that is not your main home you cannot use a standard mortgage and you will need to arrange a buy to let mortgage. In fact if you attempt to use a standard mortgage for a property that you are letting out you will be in breach of the conditions of that mortgage and you could lose it.

In general buy to let mortgages are seen as slightly riskier by the lenders and are therefore more expensive than standard mortgages although there is increasing competition in this market. 

There are of course risks involved in the buy to let market. If you cannot get a tenant you will still need to pay the mortgage and if this goes on for a lengthy period of time it can prove expensive.  Other costs such as insurance and maintenance of the property will also need to be covered. 

The buy to let market has grown enormously in recent years and it is seen as a major driving force along with the first time buyers’ market.  This means that there is a lot of competition between lenders and by comparing and shopping around buy to let customers should be able to find a mortgage that fits their financial needs.