Buy to let mortgage

Buy to Let Mortgages are products specifically designed for people who want to invest in the property market by purchasing one or more properties and letting them out to tenants. The owner is then able to benefit from any appreciation in the capital value of the property(s). They are also likely to be able to maintain the property and meet much of the loan repayment from the revenue realised by letting.

Buy to Let mortgages are very similar to standard mortgages for property which the owner will inhabit. The percentage which the buy to let lender is willing to lend is likely to be restricted to 85% of the value of a property. The term of a buy-to-let mortgage is likely to be somewhere in the region of 5 to 45 years. Interest rates are also likely to be slightly higher than those which a standard mortgage agreement attracts.

When buying to let, it is important to know the market in which you will be trying to let your property. It may be worth getting help from a letting agent who knows the area, what is in demand and what the likely pitfalls might be. By planning carefully and purchasing wisely, you should purchase a property that requires little maintenance and is attractive to tenants.

Need more help or advice?
Barket Financial Management will guide and help you find the best products and services to suit your requirements and circumstances. To discuss your options in more detail, please call one of our friendly team on +44 (0)1582 482333 or complete an online enquiry here.