RBS Buy To Let Mortgages
Compare RBS Buy to Let Mortgages
Buy To Let Mortgage Service
Fair Mortgages can provide you with a first class service if you are looking for the best buy to let mortgage deal for your circumstances.
Special features of what we offer include:
Whole of market broker - we deal with most UK buy to let lenders including RBS Bank
Top rates - Access to leading buy to let market rates
Access to exclusive buy to let mortgage deals that are not available on the high street
Expert help whether you are a first time investor or full time landlord
Flexible lenders - We have lenders who will take into account previous defaults and missed payments
Complex buy to let? or have a portfolio of 5+ properties? - speak to us
To investigate your buy to let mortgage options including RBS, call our specialist team on 0117 403 4474 or fill in our call back form.
RBS Buy To Let Mortgages
Founded in 1727, the Royal Bank of Scotland offers a range of mortgage options. You may be wondering if RBS buy to let mortgages could present the best option for you. RBS offer a selection of Tracker and Fixed Rate options at varying levels of maximum loan to value. Before you decide if an RBS buy to let mortgage is right for you, it may be a good idea to shop around multiple providers to try and find the best product available that suits your specific needs.
No matter if you are already a landlord or you are looking into purchasing your first investment property, you could benefit from enlisting the services of an independent mortgage adviser to help you find the right product; not only can an independent adviser offer you impartial advice throughout the buy to let mortgage process, but one that offers a whole of market service.
An adviser can use their professional expertise to search across the whole of the mortgage market on your behalf. This may help you find products from different providers that could present you with the best deal for your specific circumstances.
There are also a selection of lenders who have a range of mortgages that can only be accessed via a professional intermediary.
If you think Fair Mortgages might be able to help you, you can fill in our online contact form to request a call back from one of our mortgage advisers who can offer you a free initial consultation. Alternatively, you can call us directly on: 0117 403 4474
Getting a buy to let mortgage:
While you may be familiar with home buyer mortgages, if you have never had a buy to let mortgage before there are a few key differences from other home finance you may have had before.
Deposit – While home buyer mortgages can commonly be secured with relatively small deposits, buy to let lenders tend to require borrowers to be able to put down a deposit of at least 25%. Note that there are products available for lower deposits. As with all types of finance, the larger the deposit you can afford to put down the cheaper your mortgage repayments will be.
Affordability – Unlike homebuyer mortgages, where affordability is usually based upon a multiple of your annual income, buy to let lenders base it on a rental valuation of the property. Generally, they require the monthly rental yield to be at least 125%-135% of what your monthly mortgage payment would be.
While affordability is calculated on the rental potential of the property, lenders may still have a requirement for the minimum income of applicants and also require them to already be homeowners.
From 2017, lenders are required to apply a stricter stress test than before to decide whether to approve a buy to let application. To satisfy the lenders’ stress test, landlords must illustrate that they can afford mortgage repayments in the event that interest rates increase to 5.5%.
In addition, landlords can no longer spread equity across their entire portfolio. Lenders will now review landlords’ portfolio as a whole and if a landlord has one or more properties that are not profitable, then the lender will not grant them their buy to let mortgage.
They may also stipulate the minimum age an applicant can be as well as the maximum age you can be by the end of the mortgage term. These stipulations can vary considerably between providers, so it is worth shopping around to try and find a product that fits your circumstances.
Speak to our specialist team on 0117 403 4474 to help you find the right mortgage option for you.