How To Apply For Your Buy To Let mortgage
It’s quick and easy to apply.
Here are the simple steps to securing you btl mortgage.
- Have the following documents at hand
- Have your payslips/proof of income at hand
- Ensure you have at least 2 of your last P60s available
- Check your credit rating before calling
- We’ll need recent bank statement
- Call 0117 3254499
We can then quickly carry out a whole of market mortgage product search. You’ll be called back quickly with the deals we can offer you.
It’s that simple.
Buy To Let Mortgage
BTL mortgages are for properties that will be rented out. You cannot use a btl mortgage for a property you intend living in yourself.
The typical criteria for applying for a buy to let mortgage is:
- You must have an existing mortgage or own a property outright
- You must make a minimum of £25,000 PA
- A good credit history
- A minimum deposit of 25%
Interest rates are higher for BTL mortgages due to the perceived risk to the lender.
Why Buy a Property To Rent out ?
Here are some reasons people buy a property to rent out:
- An income investment
- Mortgage rates are low
- Have money to make a big deposit on a btl property so repayments are lower than the possible rental
Do Your Research
When looking to buy a property for the rental market it is important to make sure the numbers add up.
- Is the area suitable for your target tenant
- Factor in maintenance
- Remember to take out landlord cover
- Unexpected costs
There are opportunities in the buy to let market. You do need to take the time to make sure you’ve covered all base.
Buying a property to rent means you have flexibility. You can afford to try a lower offer because the property is for renting out. There is no emotional connection that comes with a property you want as a home.
Ready To Find Your BTL Mortgage
You can call us on 0117 3254499 or complete the form below. We take some details needed to search the BTL mortgage market.
Our searches are fast and we can often call you make in a matter of a couple of hours with btl mortgage deals available to you.
Get Your Free BTL Mortgage Consultation Today
Buy To Let Mortgage Specialists
The criteria for a BTL mortgage is strict.
You’ll need to have an existing mortgage with a good record of paying your repayments on time. Alternatively if you own your existing or another property outright you will typically meet the stricter criteria.
In both cases you’ll need to be earning over £25,000 PA.
- Quick Decision
- Competitive Buy To let Mortgage Deals
- We Are Not Tied To Any One Lender
- Our Advice is Based On Your Needs