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Buy To Let Mortgage Service - Call 0117 403 4474

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What is your mortgage for?

 

Buy To Let Mortgage Service

See below for latest market leading buy to let deals or use our independent buy to let mortgage advice service to compare the market.

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparison Product fee Monthly cost Enquire
Initial rate: 3.40%
Rate type: 2 year fixed
Monthly cost: £891.5 per month
Product fee: £9,000
Overall cost for comparison: 7.3% APRC
State Bank of India logo 3.40% 2 year fixed 7.3% APRC £9,000 £891.5 per month get quotes Broker Only Deal
Initial rate: 3.45%
Rate type: 2 year fixed
Monthly cost: £896.3 per month
Product fee: £9,000
Overall cost for comparison: 7.3% APRC
State Bank of India logo 3.45% 2 year fixed 7.3% APRC £9,000 £896.3 per month get quotes Broker Only Deal
Initial rate: 3.49%
Rate type: 1 year fixed
Monthly cost: £900.16 per month
Product fee: £3,600
Overall cost for comparison: 8.9% APRC
The Mortgage Works logo 3.49% 1 year fixed 8.9% APRC £3,600 £900.16 per month get quotes Broker Only Deal
Initial rate: 3.49%
Rate type: 2 year fixed
Monthly cost: £900.16 per month
Product fee: £5,400
Overall cost for comparison: 8% APRC
The Mortgage Works logo 3.49% 2 year fixed 8% APRC £5,400 £900.16 per month get quotes Broker Only Deal
Initial rate: 3.50%
Rate type: 2 year fixed
Monthly cost: £901.12 per month
Product fee: £9,000
Overall cost for comparison: 7.3% APRC
State Bank of India logo 3.50% 2 year fixed 7.3% APRC £9,000 £901.12 per month get quotes Broker Only Deal
Initial rate: 3.55%
Rate type: 2 year fixed
Monthly cost: £905.96 per month
Product fee: £9,000
Overall cost for comparison: 7.3% APRC
State Bank of India logo 3.55% 2 year fixed 7.3% APRC £9,000 £905.96 per month get quotes Broker Only Deal
Initial rate: 3.59%
Rate type: 2 year fixed
Monthly cost: £909.83 per month
Product fee: £5,400
Overall cost for comparison: 8.4% APRC
The Mortgage Works logo 3.59% 2 year fixed 8.4% APRC £5,400 £909.83 per month get quotes Broker Only Deal
Initial rate: 3.68%
Rate type: 5 year fixed
Monthly cost: £918.59 per month
Product fee: £5,400
Overall cost for comparison: 7.3% APRC
Birmingham Midshires 3.68% 5 year fixed 7.3% APRC £5,400 £918.59 per month get quotes Broker Only Deal
Initial rate: 3.69%
Rate type: 2 year fixed
Monthly cost: £919.57 per month
Product fee: £5,400
Overall cost for comparison: 8.7% APRC
Birmingham Midshires 3.69% 2 year fixed 8.7% APRC £5,400 £919.57 per month get quotes Broker Only Deal
Initial rate: 3.77%
Rate type: 5 year fixed
Monthly cost: £927.4 per month
Product fee: £5,400
Overall cost for comparison: 7.3% APRC
Birmingham Midshires 3.77% 5 year fixed 7.3% APRC £5,400 £927.4 per month get quotes Broker Only Deal
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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

Why choose us?

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

Special features of what we offer include:

  • Whole of market broker - we deal with over 60 UK lenders

  • 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 Expertise - Expert help whether you are a first time investor or experienced full time landlord

  • Credit Issues? - We have lenders who will take into account previous defaults and missed payments 

  • 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 403 4474 or fill in our call back form. 

Buy to Let Mortgage Overview

If you want to buy a property with the intention of renting it out, you will require a specialist mortgage, known as a buy to let mortgage.

Buying a property to rent out can offer the opportunity to benefit from capital growth on the value of the property, as well as income from rent payments.

How buy to let mortgages work

To all intents and purposes, a buy to let mortgage operates in a very similar way as a standard residential mortgage. 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. While residential mortgages of up to 95% loan to value (LTV) are available through the Government’s Help to Buy scheme, the minimum deposit 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 145% of the mortgage repayments.

Btl Case Study1

Buy to let mortgages – Things to consider

Securing a buy to let mortgage deal is not the only expense when it comes to renting out your property. You will also need to ensure that you budget for:

  • Letting agent fees – you don’t have to use a letting agent to rent out or manage your rental property, but it can be more convenient to do so. If you do use a letting agent, then you will need to factor this cost into your overall expenses.

  • Maintenance – as a landlord, you will be responsible for the upkeep of the property

  • Safety checks – these are an annual requirement

  • Landlord insurance – this type of insurance covers the building and its contents

  • Rental insurance  - this type of insurance covers you if you cannot rent out your property, or if you tenant goes into arrears

  • Stamp duty – this tax applies if you buy a property worth more than £125,000, just as it does on residential mortgages

  • Income tax on your rental income – you will need to declare your rental income (minus certain expenses such as mortgage interest and letting agents’ fees) on your Self Assessment Tax Return each year. If you want to pay an accountant to organise your taxes for you, you will also need to budget for this.

  • Capital gains tax (CGT) when you sell the property – unlike your primary residence, a property that you rent out is not exempt from capital gains tax

  • Inheritance tax – any rental property you own will be considered part of your estate in the event of your death.

Call our buy to let mortgage team on 0117 403 4474 or request a callback.

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

Fair Mortgages Limited is an appointed representative of Fair Investment Company Ltd which is authorised and regulated by the Financial Conduct Authority.