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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: 1.33%
Rate type: Fixed Oct-2019
Monthly cost: £482.01 per month
Max LTV: 60%
Product fee: £1990.00
Overall cost for comparison: 4.3% APRC
Post Office logo 1.33% Fixed Oct-2019 4.3% APRC 60% £1990.00 £482.01 per month get quotes Call direct0808 178 6813
Initial rate: 1.33%
Rate type: Fixed Oct-2019
Monthly cost: £482.01 per month
Max LTV: 60%
Product fee: £1990.00
Overall cost for comparison: 4.2% APRC
Post Office logo 1.33% Fixed Oct-2019 4.2% APRC 60% £1990.00 £482.01 per month get quotes Call direct0808 178 6813
Initial rate: 1.41%
Rate type: Fixed Oct-2019
Monthly cost: £485.71 per month
Max LTV: 60%
Product fee: £1720.00
Overall cost for comparison: 4.2% APRC
Post Office logo 1.41% Fixed Oct-2019 4.2% APRC 60% £1720.00 £485.71 per month get quotes Call direct0808 178 6813
Initial rate: 1.41%
Rate type: Fixed Oct-2019
Monthly cost: £485.71 per month
Max LTV: 60%
Product fee: £1720.00
Overall cost for comparison: 4.2% APRC
Post Office logo 1.41% Fixed Oct-2019 4.2% APRC 60% £1720.00 £485.71 per month get quotes Call direct0808 178 6813
Initial rate: 1.58%
Rate type: Fixed Oct-2019
Monthly cost: £491.22 per month
Max LTV: 60%
Product fee: £1220.00
Overall cost for comparison: 4.2% APRC
Post Office logo 1.58% Fixed Oct-2019 4.2% APRC 60% £1220.00 £491.22 per month get quotes Call direct0808 178 6813
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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

How Do Buy To Let Mortgages Work ?

If you’re thinking of becoming a landlord and are looking for finance to purchase your first rental property you might be wondering exactly how do buy to let mortgages work.

Most lenders will not let you take out a standard homebuyer mortgage, like you might have on your own home, if you intend to let the property out to others. Instead you will need to take a specific buy to let mortgage.

How do buy to let mortgages work?

Deposit

Like a normal mortgage a lender will require you to put down a deposit on the property, and the larger the deposit you can afford to put down the better interest you will receive.

As a general rule lenders require a larger deposit than you would expect to pay for a buy to let mortgage of the same size, the standard minimum deposit size is often 25% however it is worth shopping around to see if you can find a buy to let mortgage with a loan to value that fits your needs.

Affordability

One of the key differences between a buy to let mortgage and a traditional mortgage is how your affordability is calculated. Instead of it being a multiple of your income lenders generally require the property’s annual rental yield to be at least 125% of what your mortgage would cost you in repayments annually.  

Looking at property websites or speaking to a local letting agent could help you find out what a property in a certain area could be let for however a lender will not base their calculation on what you tell them you are intending to charge for rent, during your application there will be a professional valuation of the property that they will base the potential rental yield on instead.

As with other kinds of mortgage there is a range of repayment plans, where your monthly charge pays off a portion of your loan, and interest only plans – in which at the end of your mortgage term you need to repay your loan in full as the monthly payment only covers the interest that accrues on the loan.

Terms and conditions

Lenders may also have certain stipulations about what you may do with the property over the course of the mortgage, for instance some may require you to have a minimum tenancy length agreed with your tenants or will not let the property as certain kinds of tenancy.  Many lenders require you to take out a specialist landlord buildings insurance policy.

Finding a buy to let mortgage

BTL mortgages like most kinds of mortgages are big financial commitments and can take a long time to pay off, therefore if you are interested in one it is worth shopping around to compare the market to try and find the best plan for you.

If you’re currently looking for buy to let finance you may find using the Fair Mortgages calculator helpful, you just need to select ‘buy to let’ from the drop down menu and fill in all of the relevant information, the buy to let calculator can then filter you a selection of buy to let mortgages that fit your requirements and might be available to you. You can then compare and contrast their different features to see if you can decide which you would prefer.

If you’d like to find out more about buy to let mortgages you could fill in the enquiry form on this website to request a call back from a Fair Mortgages Advisor who can provide you with a free initial conversation about mortgages. 

Our Buy to Let Mortgage Broker Service

Why choose us?

Fair Mortgages can provide you with a first class service if you are looking for buy to let broker mortgage service. 

Special features of what our broker service offers include:

  • Rental Income Requirements - What lenders now require on rental income - we can help you through the lender criteria maze
  • Whole of market btl broker - we deal with most UK buy to let lenders
  • Buy to Let Rates - Access to leading buy to let market rates
  • Exclusives - Access to exclusive buy to let mortgage deals not available on high street
  • Our BTL Experise - Expert help whether you are a first time landlord or full time landlord
  • Credit Issues? - We have lenders who will take into account previous defaults and missed payments if applicable
  • Experienced BTL Investor? - Have a complex buy to let or have a portfolio of 5+ properties? - speak to us

To investigate your buy to let mortgage options call our specialist team on 0117  313 7780 or fill in our call back form. 

A Complete Service

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Call us on 0117 313 7780 or Request a Callback for our Buy To Let Mortgage Service

For a FREE initial conversation about your mortgage options complete our short enquiry form.

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Buy to Let Mortgages