Buy-To-Let
Buy-To-Let
Buy-to-let mortgages are perfect for those who want to invest in property/grow their portfolio, own a home but not live in it, and for people who have become an accidental landlord (inherited property, for example).
The lenders main focus is rental income and property valuation. There is more to it, but keeping it simple, the rental income should cover the monthly mortgage repayments, with you receiving a surplus/profit.
Common Questions
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What if my property is vacant and not generating rental income?
You’re still responsible for making mortgage payments even if the property is vacant. It’s crucial to have a financial buffer for such periods.
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Can I live in the property with a buy-to-let mortgage?
No, buy-to-let mortgages are specifically for rental properties. If you want to live in the property, you’ll need a residential mortgage.
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Can I get a buy-to-let mortgage if I'm a first-time buyer?
Yes, but it might be more challenging. Lenders often prefer borrowers who already own a property, but it's not impossible.
Get in touch.
Do you have questions about investing in property to rent out? As your mortgage adviser, its my goal to ensure you not only get the best deal, but also give you tailored advice to suit your financial goals and circumstances.