Looking to grow your rental property portfolio? A buy to let mortgage could help. Whether you’re just starting out, or you’re looking to switch your current buy to let mortgage deal, we have a range of offers that could help you take the next step.
What is a buy to let mortgage?
You’ll need a buy to let mortgage if you’re buying a property to rent out. A buy to let mortgage can be taken on a repayment or interest only basis.
A repayment mortgage repays part of the loan plus interest each month until the loan is fully repaid. An interest only mortgage only repays interest each month so, at the end of the term you must repay the full loan amount borrowed.
It’s a long-term investment – a rental property could be a worthwhile investment in the longer term, but it's not risk free.
We’re here to help - we’ll talk you through our buy to let mortgage offers to make sure you've got all the information to get started.
We have mortgage deals to suit your needs - your rental income must cover the mortgage interest plus any associated fees and costs.
Keep in mind costs and charges – make sure you factor in costs such as tax, home insurance and costs for general repair and upkeep of the property.
We can only give you information about our range of mortgages. We can't help you decide if a buy to let is right for you as a longer-term investment.
Four steps to getting a buy to let mortgage
If you’re looking to buy a rental property, you could apply for a buy to let mortgage. Follow our four simple steps to get you on the right path to buy to let.
1. Check your eligibility
Check your eligibility before applying for a buy to let mortgage. Get an idea of how much you could borrow, and work out the costs of buying, running and maintaining your rental property.
Buying a new buy to let property or wanting to borrow more or switch your current deal? Compare our current buy to let mortgage interest rates to find the right deal for you.
You’ll need to speak to one of our Mortgage and Protection Advisers to apply for an Agreement in Principle. This confirms how much you could borrow, which can help show estate agents you’re a serious buyer.
You’ll also need to think about insurance for your buy to let property or rental portfolio. Landlord insurance can help protect your property, furnishings and rental income if an insured event happens.
Find and apply for the right mortgage with a little help from us. Whether you want to take that first step or plan your next move, your search starts here.
Find and apply for the right mortgage with a little help from us. Whether you want to take that first step or plan your next move, your search starts here.
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