Buy to let
A Buy to Let mortgage is a mortgage designed for individuals or landlords who are purchasing a property with the intention of leasing it out on either a short or long term let.
A Buy to Let mortgage is essentially for people who want to invest in a property rather than live in it themselves. Buy to let mortgages differ from regular mortgages as:
- The fees tend to be higher because securing a Buy To Let mortgage is more complex than securing a regular mortgage
- The interest rates tend to be higher
- The deposit required is usually higher than that required for a regular mortgage – typically between 25% and 40% of the purchase price
- Many Buy to Let Mortgages are on an interest only basis. This means that the monthly payments are lower than on a repayment mortgage but you will be required to repay the loan in full at the end of the mortgage term
- The amount of money you can borrow will be linked to the amount of income the property can be expected to generate.
To find out more about
Buy to Let Mortgages why not get in touch.
You can call Chris at our Brighton based office on 01273 870 302, mobile 07821 409589 or e-mail him
email@example.com or head to our contact page and fill out the contact form.
We look forward to hearing from you.