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Buy To Let Mortgage Hotline - Call 0117 403 4222

1.75% 2 Year Fixed

  • Overall cost for comparison 4.3% APRC

Representative Example: Mortgage of £120,000 on property valued at £200,000 over term of 25 years. Rate fixed for 2 years after which reverts to Post Office variable rate of 4.74%.

Call Post Office FREE on 0808 178 6813

2.68% 5 Year Fixed

  • Overall cost for comparison 4.0% APRC

Representative Example: Mortgage of £120,000 on property valued at £200,000 over term of 25 years. Rate fixed for 2 years after which reverts to Post Office variable rate of 4.74%.

Call Post Office FREE on 0808 178 6813

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.43%
Rate type: Fixed Oct-2019
Monthly cost: £488.68 per month
Max LTV: 60%
Product fee: £2270.00
Overall cost for comparison: 4.5% APRC
Barclays Bank logo 1.43% Fixed Oct-2019 4.5% APRC 60% £2270.00 £488.68 per month get quotes Call direct0117 313 7780
Initial rate: 1.43%
Rate type: Fixed Oct-2019
Monthly cost: £484.13 per month
Max LTV: 60%
Product fee: £1320.00
Overall cost for comparison: 4.3% APRC
Barclays Bank logo 1.43% Fixed Oct-2019 4.3% APRC 60% £1320.00 £484.13 per month get quotes Call direct0117 313 7780
Initial rate: 1.44%
Rate type: Fixed Jan-2020
Monthly cost: £486.96 per month
Max LTV: 60%
Product fee: £1755.00
Overall cost for comparison: 4.2% APRC
Santander UK Plc logo 1.44% Fixed Jan-2020 4.2% APRC 60% £1755.00 £486.96 per month get quotes Call direct0117 313 7780
Initial rate: 1.44%
Rate type: Fixed Jan-2020
Monthly cost: £486.96 per month
Max LTV: 60%
Product fee: £1755.00
Overall cost for comparison: 4.2% APRC
Santander UK Plc logo 1.44% Fixed Jan-2020 4.2% APRC 60% £1755.00 £486.96 per month get quotes Call direct0117 313 7780
Initial rate: 1.44%
Rate type: Fixed Jan-2020
Monthly cost: £486.96 per month
Max LTV: 60%
Product fee: £1755.00
Overall cost for comparison: 4.2% APRC
Santander UK Plc logo 1.44% Fixed Jan-2020 4.2% APRC 60% £1755.00 £486.96 per month get quotes Call direct0117 313 7780
Initial rate: 1.48%
Rate type: Fixed Oct-2019
Monthly cost: £491.02 per month
Max LTV: 60%
Product fee: £2270.00
Overall cost for comparison: 4.5% APRC
Barclays Bank logo 1.48% Fixed Oct-2019 4.5% APRC 60% £2270.00 £491.02 per month get quotes Call direct0117 313 7780
Initial rate: 1.6%
Rate type: Tracker 2 years
Monthly cost: £496.66 per month
Max LTV: 60%
Product fee: £2270.00
Overall cost for comparison: 4.5% APRC
Barclays Bank logo 1.6% Tracker 2 years 4.5% APRC 60% £2270.00 £496.66 per month get quotes Call direct0117 313 7780
Initial rate: 1.69%
Rate type: Fixed Dec-2019
Monthly cost: £496.22 per month
Max LTV: 60%
Product fee: £1670.00
Overall cost for comparison: 4.3% APRC
BM Solutions logo 1.69% Fixed Dec-2019 4.3% APRC 60% £1670.00 £496.22 per month get quotes Call direct0117 313 7780
Initial rate: 1.69%
Rate type: Fixed Dec-2019
Monthly cost: £496.25 per month
Max LTV: 60%
Product fee: £1061.00
Overall cost for comparison: 4.6% APRC
Skipton BS logo 1.69% Fixed Dec-2019 4.6% APRC 60% £1061.00 £496.25 per month get quotes Call direct0117 313 7780
Initial rate: 1.88%
Rate type: Tracker Feb-2020
Monthly cost: £510.20 per month
Max LTV: 60%
Product fee: £2273.00
Overall cost for comparison: 4.4% APRC
NatWest logo 1.88% Tracker Feb-2020 4.4% APRC 60% £2273.00 £510.20 per month get quotes Call direct0800 056 8572
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Buy to Let Mortgage Requirements

Buy To Let Mortgage Requirements

The buy to let mortgage you will be offered is dependent on your personal circumstances and the criteria of the lender. Each Lender has a varied set of requirements that will determine whether or not you are eligible to take out a buy to let mortgage.

Although these requirements will not be the same with every lender, here is a guide on what lenders might take into consideration before offering you a mortgage.

1. A hefty deposit

It’s worth noting that you can typically only borrow up to 75% of a property’s value. A few lenders might offer 80% and the odd one might go up to 85% (although this is very rare). So if you want to take out a buy to let mortgage, you'll have to save up some cash.

2. Your homeowner status

You can expect nearly all lenders to require that you own your own home before offering you a buy to let mortgage, although this does not have to be a mortgage-free property.

3. Your credit score

It is common practice for lenders to look at any other debts you may have on personal loans, credit cards and other mortgages, even if you have an excellent credit score. If they believe that you might be struggling with other debts, they will feel less inclined to offer you a deal.

4. Your income

Lenders will like to see evidence of a consistent solid income, despite the fact that the rent will be used to pay the mortgage. An income of over £25,000 is usually enough to convince lenders.

From 2017, lenders will also require that you can afford the mortgage repayments in the event that interest rates increase to 5.5%.

5. Your experience

Although it is by no means necessary to have a proven track record in the industry before taking out a buy to let loan, it is often desirable by lenders. As a result your choice is more likely to be restricted if you are a first time landlord.

6. Your age

It is not uncommon for lenders to have upper age limits ranging from about 65 – 90 years old; this will make it trickier to secure a buy to let property the older you are. Despite this, there are still a number of buy to let opportunities available for older investors. (To find out more visit our Buy to Let Mortgages for Older People Guide).

7. An accurate estimation of the rental income

Under the 2017 regulations that govern buy to let mortgages, lenders will require a rental coverage ratio of 145% for a standard buy to let or 170% for a house in multiple occupation buy to let. 

Lenders will ask you to give them an accurate estimation of the rent that the property is expected to receive. It is likely they will compare rents on similar houses in the area for confirmation.

Not only will lenders compare rents in the vicinity of your property, but they only accept estimated rental income based on professional valuation.

Our Buy to Let Mortgage Services

Why choose us?
Special features of what our broker service offers include:

• We work with most UK buy to let lenders to offer you a whole of market service.
• We have access to leading buy to let rates.
• Exclusive offers and deals – We have access to a range of mortgage deals both on and off the high street.
• Buy to rent mortgage requirements - we can help you through the lender criteria maze
• Buy to let expertise – expert help whether you are a first time investor or full time landlord.

To get further advice on buy to let mortgage requirements call our specialist team on 0117 403 4222 or fill in our call back form.

Buy to let mortgage requirements

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Buy to Let Mortgages