Do you have room to look after more than your little ones? Life as a landlord can be a lucrative opportunity, whether you’re opening a home up to rent or investing in capital growth. If you’re interested in this venture, we’re here to help with tailored advice on buy to let mortgages.
How a lender decides to offer a buy to let mortgage is typically based on rental coverage - will the rent earned on the property cover your repayments? In some cases, there will be less emphasis placed on your earned income.
More often than not, buy to let mortgages tend to have slightly higher interest rates than your standard residential mortgage.
You should expect lenders to ask for a minimum deposit of 20%-25% of the property’s value for a buy to let mortgage.
Seeing a family settle into a new home with a mortgage that suits them and insurance that secures them. It’s what makes The Mortgage Mum team tick.
If there’s anything you’d like to chat about, whether that’s our services, our mortgages or insurance, just get in touch…
