Buy To Let Mortgage Brokers
Our Buy to Let Mortgage Broker Service
Why choose us?
Fair Mortgages can provide you with a first class buy to let mortgage broker 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 buy to let 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 the high street
- Our buy to let expertise - 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 buy to let 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 or fill in our call back form.
Why use a buy to let mortgage broker?
There is a wide range of buy to let mortgage deals available on the market, as such some potential borrowers find enlisting the help of buy to let mortgage brokers helpful to find the best plan available for their specific requirements.
Not only can an independent buy to let mortgage brokers provide you with impartial advice about buy to let mortgages, they may also be able to access specialist lenders who are not available on the high street where borrowers cannot apply directly.
If you want to find out more about getting a buy to let mortgage, you can fill in the online Fair Mortgages enquiry form or contact us directly to request a free initial conversation about mortgages. Alternatively, you can contact our team direct.
You may also find it useful to use our Fair Mortgages comparison tool to see what might be available to you beforehand.
Using the calculator you can fill in your relevant financial information and select the ‘buy to let’ option from the drop down menu. The btl calculator will then be able to generate a selection of buy to let mortgages from a range of different providers that fulfils your criteria. You can then compare and contrast their different features, which might help you decide which option might be the best choice for you.
About buy to let mortgages
Buy to let mortgages differ a little bit from homebuyer mortgages, but they do share many common features.
Many buy to let lenders require a borrower to put down a larger deposit on a property than you would expect with a traditional mortgage. It is not uncommon for buy to let lenders to require a 25% deposit. However, there are plans available for smaller deposits. As with any other kind of mortgage, the larger the deposit you can afford to put down, generally speaking the better interest rate you will be able to secure.
Buy to let mortgages also normally attract higher interest rates and product fees than homebuyer mortgages, as such shopping around before taking out a buy to let mortgage is wise.
Buy to let mortgage affordability is also usually calculated slightly differently. While you might be expecting the lender to calculate your affordability based upon a multiple of your income this is often not the case with buy to let.
Although the majority of lenders will require you to be able to afford mortgage payments in the event that interest rates increase to 5.5%, many lenders will also base the affordability on the potential rental yield of the property.
A feature of many buy to let mortgages on the market is that the monthly rental yield of the property is at least 145% of what your mortgage repayment cost would be. This potential rental yield will be based on a professional valuation by the lender, rather than simply stating on the application how much you intend to charge in rent on the property.