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Buy To Let Mortgage Hotline - Call 0117 403 4222

Buy To Let Mortgages For Over 75s

Buy To Let Mortgage Deals Of The Month

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FairMortgages.co.uk has partnered with Royal Bank Of Scotland to bring you some of the best mortgage rates in the market, which is why they say 'YES' to a mortgage every 60 seconds*. It takes just a few minutes to find out if they can help:

Call RBS Buy To Let team: FREE on 0800 096 7962

OPEN 7 DAYS A WEEK
Monday to Friday:  8am to 8pm 
Saturday & Sunday:  9am to 4pm

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Call FREE 0808 271 8482

Top rates for those looking to get a better deal or borrow more:

  • FIXED RATES from 1.69% (4.5% APRC)
  • FAST DECISION
  • LINES OPEN: 7 days a week 8am to 10pm

Call HSBC Buy To Let team FREE on 0808 271 8482 to find out how much you could borrow

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.38%
Rate type: Fixed Mar-2020
Monthly cost: £486.56 per month
Max LTV: 60%
Product fee: £2213.00
Overall cost for comparison: 4.4% APRC
Virgin Money logo 1.38% Fixed Mar-2020 4.4% APRC 60% £2213.00 £486.56 per month get quotes Call direct0330 057 1595
Initial rate: 1.47%
Rate type: Fixed Mar-2020
Monthly cost: £490.77 per month
Max LTV: 60%
Product fee: £2213.00
Overall cost for comparison: 4.4% APRC
Virgin Money logo 1.47% Fixed Mar-2020 4.4% APRC 60% £2213.00 £490.77 per month get quotes Call direct0330 057 1595
Initial rate: 1.48%
Rate type: Fixed Mar-2020
Monthly cost: £486.42 per month
Max LTV: 60%
Product fee: £1213.00
Overall cost for comparison: 4.3% APRC
Virgin Money logo 1.48% Fixed Mar-2020 4.3% APRC 60% £1213.00 £486.42 per month get quotes Call direct0330 057 1595
Initial rate: 1.54%
Rate type: Tracker Mar-2020
Monthly cost: £489.21 per month
Max LTV: 60%
Product fee: £1213.00
Overall cost for comparison: 4.3% APRC
Virgin Money logo 1.54% Tracker Mar-2020 4.3% APRC 60% £1213.00 £489.21 per month get quotes Call direct0330 057 1595
Initial rate: 1.59%
Rate type: Fixed Mar-2020
Monthly cost: £491.54 per month
Max LTV: 60%
Product fee: £1213.00
Overall cost for comparison: 4.3% APRC
Virgin Money logo 1.59% Fixed Mar-2020 4.3% APRC 60% £1213.00 £491.54 per month get quotes Call direct0330 057 1595
Initial rate: 1.69%
Rate type: Fixed Mar-2021
Monthly cost: £501.14 per month
Max LTV: 60%
Product fee: £2213.00
Overall cost for comparison: 4.2% APRC
Virgin Money logo 1.69% Fixed Mar-2021 4.2% APRC 60% £2213.00 £501.14 per month get quotes Call direct0330 057 1595
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
Initial rate: 1.88%
Rate type: Tracker Feb-2020
Monthly cost: £510.35 per month
Max LTV: 60%
Product fee: £2273.00
Overall cost for comparison: 3.8% APRC
Royal Bank Of Scotland logo 1.88% Tracker Feb-2020 3.8% APRC 60% £2273.00 £510.35 per month get quotes Call direct0800 096 7962
Initial rate: 1.88%
Rate type: Tracker Feb-2020
Monthly cost: £510.35 per month
Max LTV: 60%
Product fee: £2273.00
Overall cost for comparison: 4% APRC
Royal Bank Of Scotland logo 1.88% Tracker Feb-2020 4% APRC 60% £2273.00 £510.35 per month get quotes Call direct0800 096 7962
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: 4.2% APRC
NatWest logo 1.88% Tracker Feb-2020 4.2% 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 Mortgages for Over 75s

Buy to Let Mortgages for Over 75s

Traditionally, obtaining a buy to let mortgage on your property after you enter your 70s is a difficult and time consuming process. Over 75 year olds tend to face a limited selection of buy to let mortgage deals, due to lenders implementing unfair upper age limits on their financial products. It is therefore not uncommon to have your buy to let mortgage application rejected if you are over the age of 70, or even 65!
So if you’re over the age of 75 and are looking for the right buy to let mortgage deal on your ideal property, you might be wondering what options are actually available to you.

Whilst it is true that getting a mortgage past the age of 75 has its difficulties, there are still a good number of lenders who are willing to offer older investors buy to let mortgage deals.

In more recent times, lenders have started to realise that people are now living longer, and that elder investors can still be a worthwhile, profitable investment for them. This means good news for investors over the age of 75, as now finding the ideal buy to let mortgage on your property has been made considerably easier.

If you are looking for a buy to let mortgage over the age of 75, you should familiarise yourself with the recent changes to the buy to let regulations and tax rules.

Changes to the Buy to Let Tax Rules

From 2017, landlords can no longer deduct their entire buy to let property financial expenses to calculate their profits in a self-assessment at the end of the financial year. This means that landlords' tax bills will increase. 

It should be noted that these rules do not affect limited companies. As a result, there has been an increase in landlords looking to set up their own limited company to avoid the new tax rules. This may be a viable option, but there are some associated costs that should be considered before setting up a limited company. 

Changes to Buy to Let Regulations 

The changes in the buy to let mortgage regulations have affected the way lenders consider buy to let mortgage applications.

In previous years, landlords only required to have a rental coverage ratio of 125%. To successful secure a buy to let mortgage, landlords now need a rental coverage ratio of 145% for a standard buy to let and 170% for a house in multiple occupation buy to let that is based on a professional surveyor's valuation.  

The increase in rental coverage is to protect landlords from falling into arrears with mortgage payments when their property is without tenants for a period of time. 

From 2017, lenders will apply a stricter income stress test than before. Lenders will now require landlords to be able to afford mortgage payments in the event that interest rates increase to 5.5%.

Finally, during the application process lenders will take an in-depth review of the landlord's property portfolio. This is to review every one of the landlord's property to ensure they are all profitable. It is important to note that landlords can no longer spread their equity across their portfolio. Therefore, if a landlord has one or more properties that are profitable then a lender will refuse to approve the buy to let mortgage.

How you can find your perfect buy to let mortgage deal

1. Shop around – Similar to any other financial product, it is important to shop around and compare all of the deals available to you. We understand that the process of finding and sifting through a number of different mortgage packages can often be overwhelming, here are some of the following factors you should consider when evaluating your options.
• Mortgage requirements and your eligibility
• Fixed rate or variable rate
• Additional fees
• Interest rate

2. Speak to a Mortgage Broker - Once you have found all of the options available to you as an over 75 year old, it is still often difficult to pick out which deal is best for your personal circumstances. That’s why we recommend contacting a mortgage broker who can analyse your situation, to give you assistance in making the best decisions for your future and helping you achieve your buy to let mortgage goals. A mortgage broker will be able to compare the best options and even offer you exclusive mortgage deals that are not available on the high street.

If you would like the assistance of an independent mortgage adviser, you can contact us directly on 0117 313 7780 and receive a free initial consultation. Alternatively, fill in our online contact form to request a call back from our buy to let mortgage advisory team.

In addition to offering advice and exclusive deals to over 75 year olds, we also offer:

Quick turnaround – You can speak to us today if you need to move quickly.
Friendly telephone service - From our expert mortgage advisers.
Whole of market service – We work with most UK lenders.
Access to exclusive deals -  We can find leading buy to let mortgage rates

 buy to let mortgages for over 75s

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