Buying to Let
Buy-to-Let mortgages are a popular way to invest your money. Whether you already own a home or not, if you’re looking for help with getting a mortgage for a property you intend to rent – we can help. Buy-to-Let mortgages have some different requirements than regular residential mortgages why not speak to us today and find out how we can help?
What is a Buy-to-Let Mortgage?
A buy-to-let mortgage (also known as an investment mortgage) is designed for borrowers who want to let their property out to a third party (i.e. tenants).
More and more people are investing in property as a long-term opportunity to make profitable returns, and as a way of securing finance for their retirement. There are now plenty of competitive buy to let mortgage deals around that are specifically aimed at the buy-to-let market, Eddison Wells are here to find the best available deal tailored to your circumstances.
You will be required to put down a deposit for buy to let mortgages and this will be typically larger than for a standard residential mortgage ? it will likely be 15-25% of the property?s value.
In addition, mortgage lenders will often assess buy-to-let mortgages on the earning potential of the property (i.e. the rental income) as well as normal income. The rental income of the property will usually need to be 125-145% of the monthly mortgage repayments.