Buy to Let and Let to Buy Mortgagees
A buy to let mortgage is a loan for purchasing or refinancing residential property which is let to tenants rather than lived in by the borrower. Classed as a business transaction, rates and fees are typically higher than those you would find with a standard residential mortgage.
How much deposit is needed for a buy to let mortgage?
Interest rates on buy-to-let mortgages tend to be higher than residential ones.
The minimum deposit for a buy-to-let mortgage is usually a quarter 25% of the property’s value, some lenders offer deals with a 20% deposit,
The lenders interest rate together with the lenders setup fees tend to be higher.
This is a changing market, best to call us with your personal requirements to check the availability of the amount of mortgage available, as this normally is linked to the rental income archivable on the investment property, now linked to affordability.