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Home.co.uk

Buy-To-Let Mortgages

There are now many mortgage lenders competing in the buy-to-let market. Since lenders profit margins are down within the 'normal' residential mortgage arena, more lenders than ever are now offering buy-to-let mortgages.

Broadly speaking you will need a deposit of at least 15% for a buy-to-let mortgage. A deposit of 25% or more will give you a lot more choice.

Buy-to-let investors should be aware that Buy-to-Let mortgages are not regulated by the Financial Services Authority. Therefore, Home.co.uk recommends that all potential landlords should contact an qualified independent mortgage advisor for the best buy-to-let mortgage advice

If you want to borrow for buy-to-let Home.co.uk recommends that you check the offers from our directory of mortgage lenders.

Molo Molo is the UK's first fully online buy-to-let mortgage provider. It offers loans for consumer buy-to-let properties, including buy-to-let remortgaging. This is for individuals or limited companies and covers properties in England and Wales. Molo also offers an online mortgage calculator to see how much you could borrow.

Virgin Money Buy-to-let mortgages are among the financial services offered by Virgin Money. Among its online resources it offers a quick and easy tool to assess what type of mortgage to get. Among its lending criteria is a minimum combined annual income of £25,000, or £50,000 where personal income is used for affordability.

Barclays High street bank Barclays offers buy-to-let mortgages for first time buyers as well as those building up a property investment portfolio. The borrowing limit is up to £2m per buy-to-let property. A maximum of six mortgaged rental properties is considered by Barclays, or 10 across all lenders.

The Loughborough Building Society The Loughborough Building Society can offer customers a buy-to-let mortgage for up to three properties. This includes a two-year deal or a family buy-to-let mortgage for three years.

Halifax Lender Halifax offers buy-to-let mortgages for long-term investments and also offers guidance for those "new to the buy-to-let scene"'. This includes its five steps to getting a buy-to-let mortgage, which covers the application process, securing an agreement in principle and conveyancing, among other areas of lending.

See also: Buy-to-let Mortgage Advice, Mortgages