Buy To Let ReMortgage

Our Buy to Let Remortgage Service - helping you make the right decision

"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support. 

Speak to one of our buy to let remortgage specialists »

How buy-to-let remortgages work

To all intents and purposes, a buy-to-let remortgage operates in a very similar way as a standard residential remortgage. You can choose from a range of buy to let mortgage offers, including fixed rate, variable rate, and tracker mortgage deals. However, buy-to-let mortgages can differ from residential mortgages in several key ways:

Buy to let minimum deposits – In general, the available loan to value (LTV) on buy to let property purchases is lower than those available for equivalent value residential purchases. The minimum loan to value required for a buy-to-let mortgage is usually around 20% to 25 % of the property’s value, as a minimum.

Buy to Let fees - Arrangement fees on buy-to-let mortgages can be a lot higher than on a residential mortgage.

Buy to let Interest rates – The interest rates charged by mortgage lenders on buy-to-let mortgages tend to be higher.

Proof of rental income – One of the key areas of difference between a buy-to-let mortgage and a mortgage on your home is how affordability is assessed. One of the main things a buy to let mortgage lender will consider is how much rent you are likely to be able to charge on the property you intend to purchase.

As well as proving your income, as is required when applying for a residential mortgage, a buy to let mortgage lender will expect you to demonstrate that the market rate for rental income on the property you want to buy is at least 125% of the mortgage repayments.