Do you want a Buy to Let mortgage?

If you do, then First Class Mortgage Advice will be able to help. It can be difficult finding a BUY TO LET mortgage, especially if this is your first time as a landlord.

What is a Buy To Let mortgage?

A Buy To Let mortgage is for those who wish to buy a property for the sole purpose of renting out its units. Typically, Buy To Let mortgages cost more than those for single-family properties. Interest tends to be higher and the minimum deposit for a Buy To Let mortgage is usually approximately 25% of the total cost of the property, although experienced landlords can raise a mortgage with only a 20% deposit.

On the positive side, Buy To Let mortgages offer the opportunity to earn money by becoming a property investor and building up a property portfolio. It’s a very different ball game to acquiring a mortgage if it’s your first time buying, or something like a remortgage.

Investing in rental property can be costly. Appliances break. Utilities need to be serviced. In addition, the brutality of particularly careless renters can devastate a property. Because of this, only those who can afford the leap should accept a Buy To Let mortgage.

Who qualifies for a Buy To Let mortgage?

It can be difficult to find a Buy To Let mortgage, especially for first-time landlords. Unless you already own your own home, lenders may be unwilling to give you a chance.

In addition, anyone applying for a Buy To Let mortgage must have good credit. Due to the risky nature of investing, debts must be minimal. Individuals who earn less than £25,000 per year may find it hard to acquire a Buy To Let mortgage, as well. We work with banks such as the following, to help you try and secure such credit. We work with Lloyds, Nationwide and Natwest just to mention a few.

Just give us a call and we’ll be happy to arrange an appointment to talk through the various options open to you. Whether it’s your first time as a landlord or you have an extensive property portfolio, make sure you are getting the best possible advice. Please note that Buy to Let mortgages are not regulated by the FCA.

Compare all of the best deals

First Class Mortgage Advice has access to every UK lender and can search through 100s of different mortgages to find you the best possible deal

We are an independent business, based in Edinburgh and welcoming clients from all across the surrounding areas of Lothian. In addition to our professionalism, we’re also a very friendly company, one you can trust with your financial future. If you’re thinking of investing in property, make sure you also invest in the best advice possible.

You may also want to look at this resource, as it will provide some helpful information – Renting your property (England & Wales).