Buy to Let Mortgages
Buy to Let Mortgages |
|
|
|
|
Buy to Let mortgages and remortgages. Buy to Let mortgages have assisted many new landlords to build a rental portfolio. Loans can be arranged for up to 80% of the purchase price or value whichever is the lower and, in most cases, the amount of loan is based upon the rental value of the property. Most lenders use a calculation that the rent must be at least 125% of the interest only payment of the mortgage i.e. if the calendar monthly rent is £800 then the monthly interest payment would need to be a maximum of £640. Mortgages and remortgages can be arranged on a capital repayment basis or interest only and for applicants of up to age 70. Mortgage term are available for 25 or more years subject to age of applicants. Full Key Facts Illustrations are always provided in writing before application. |